Remove Customer Retention Remove Lifetime Customer Remove Social Media
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The True Cost of Losing a Customer

BlueOcean

TL;DR: With every customer loss, you’re missing out on prospects and falling short of your lifetime customer value potential. But if that interaction also ends negatively, the customer support experience can become the straw that breaks the camel’s back.

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The True Cost of Losing a Customer

BlueOcean

Consider these statistics from a recent survey from NewVoiceMedia: After experiencing poor customer service: • 37% of customers would change their supplier. • 28% would post a negative online review. • 26% would complain via social media. • 13% would tell friends/colleagues. • 10% would inform the media.

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Bilingual Customer Support: Where Live Agents and AI Coincide

BlueOcean

Things like lifetime customer value/cost of customer churn come into play beyond the straight dollar-for-dollar cost of an agent hour. Your customers expect the same brand experience they have at every other moment in their journey—your website, your storefront, your marketing.

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Validating Your Outsourced Customer Care Partnership: Is Your Incumbent “Still the One”?

BlueOcean

Well, in a B2B customer success model, measuring renewal rates holds your outsourced partner accountable to targets that are tied to revenue and retention. Total Value Returned Rate is a key metric that also has to be tied to customer retention. What about feedback via social media networks?

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Measuring Customer Service Performance: Lifetime Customer Value

CSM Magazine

In that perfect world, customer retention would be at 100% and customer turnover would be zero. Since that’s not the world we live in, customers need to experience prompt and dedicated attention at every major customer touch point. The Extensive Effort Behind Lifetime Customer Value.

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Customer Lifetime Value and Client Retention: What’s the Connection?

CSM Practice

Without that crucial information, you can’t develop an effective customer retention strategy. Enter: Customer Lifetime Value. Let’s take a closer look at customer lifetime value, how to calculate it, why it matters for customer retention, and how to improve these metrics to amplify the success of your business.

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Happy Holidays from Blue Ocean

BlueOcean

Thanks to emerging customer support channels like social media and live chat, as well as evolving technologies like speech recognition, there are more ways than ever for customers to initiate (and resolve) a service inquiry. With customer service channels in constant movement, what will be the impact on the phone channel?