InMoment XI

NOVEMBER 18, 2024

By understanding customer motivations, your business can make decisions that lead to higher customer satisfaction , loyalty, and profitability. Improved Customer Retention It is no secret that retaining customers is more cost-effective than acquiring new ones.

Analysis 195

Analysis Customer Journeys Social Media Analytics 195

ReviewTrackers

MARCH 31, 2021

Improving customer retention can prevent billions of dollars of lost revenue in the insurance industry. What’s worse than losing billions in revenue is the amount that insurers have to pay to acquire new customers. According to Hubspot, the insurance industry is tied for the third-highest customer acquisition cost at $303.

Insurance 123

Insurance Customer Retention Industry How To 123

One Millimeter Mindset

MARCH 9, 2021

An enlightened cross-functional customer retention strategy is key to strategic business success. After all, retaining customers is central to business longevity. Because professional proactivity is central to a cross-functional customer retention strategy. Engage me to present a One Millimeter Mindset program!

Customer Retention 102

Customer Retention Strategy Leadership Innovation 102

Totango

OCTOBER 2, 2020

Equipped with the knowledge provided by customer data, you can help your customer survive tough times by offering practical solutions that add value and ultimately contribute to customer retention during economic downturns — even ones caused by a pandemic. Customer Retention Is Your Future.

Customer Retention 118

Customer Retention Effort Score Customers Resources 118

InMoment XI

OCTOBER 24, 2024

Improved Customer Loyalty Customer engagement platforms increase customer loyalty by making the customer experience engaging and consistent throughout the whole customer journey. Research shows that loyal customers are 64% more likely to make more frequent purchases from your business than regular customers.

Customer Engagement 195

Customer Engagement Engagement Omni-Channel e-support 195

TechSee

OCTOBER 15, 2019

Customer churn is a growing problem across many industries and managing it has become critically important to the maintaining profitability. Research indicates that the cost of acquiring a new customer can be as much as five to seven times higher than keeping an existing one. Dissatisfied customers. trillion per year.

Customer Retention 107

Customer Retention Social Media Airlines Groups 107

One Millimeter Mindset

JANUARY 19, 2022

Surprised to enter 2022 digging yourself out of a huge 2021 customer defection hole? It just could be you left your entire client retention strategy up to the virtual customer retention dog. What excuses do you make to your managers about your less-than-stellar rate of customer retention?

Customer Retention 99

Customer Retention Touchpoint Customers Sales 99

ECXO

MARCH 6, 2025

Meeting these elevated expectations is not just about customer satisfactionit directly impacts the bottom line. Research shows that B2B companies with superior customer experience achieve higher revenue growth, better customer retention, and lower service costs than their peers.

B2B 339

B2B Customer Journeys How To Effort Score 339

Uniphore

JANUARY 4, 2022

How are you planning to leverage conversations to drive revenue and customer retention? Join us as we explore the technology and strategies needed to accelerate key initiatives, improve customer retention and drive revenue growth in today’s enterprise. Find out at Uniphore Converse 2022 on. Register Now.

Contact Center 317

Contact Center Multi-Channel Innovation Customer Retention 317

Totango

JANUARY 26, 2021

Read on to learn what churn is, how an attrition analysis can help you pinpoint why you’re losing customers, and what steps you can take to prevent customer churn. What Is Churn Rate and How Does It Relate to Customer Retention? Prioritize Churn Prevention to Increase Retention and Revenue.

Customer Retention 94

Customer Retention e-support Analysis Customers 94

eglobalis

OCTOBER 1, 2024

Each team is aligned to improve customer satisfaction, and no department is left behind. To facilitate collaboration between CX (Customer Experience) and Finance, the company can set a shared KPI related to customer retention rates and link it to financial performance metrics.

Customer Journeys 446

Customer Journeys Culture Leadership Effort Score 446

eglobalis

JULY 2, 2024

Customer Lifetime Value (CLV) : Estimates revenue potential from a customer over their lifetime. Revenue Growth: Tracks growth directly attributed to customer experience initiatives. Customer Retention Rate (CRR) : Measures the ability to retain customers over time.

NPS 456

NPS Feedback Net Promoter Score B2C 456

Customer Bliss

SEPTEMBER 27, 2018

“If you have a customer success job in an organization that isn’t interested in customer retention, you need to consider doing something else,” says Lucy Norris , Executive VP, Global Leader of Customer Success at Genesys , a technology company that provides solutions for customer experience, marketing, and sales.

Communication 222

Communication Chief Customer Officer Customer Care Leadership 222

Lumoa

MAY 19, 2020

Like any new initiative, you’ll need to make a case for expanding your customer experience strategy (and getting additional budget). A business case is a detailed presentation that compares several options and makes a recommendation. Present your case. The final step of your business case is presenting it in a formal document.

How To 243

How To Multi-Channel Return on Investment Study 243

ijgolding

NOVEMBER 13, 2014

Grateful to have an amazing advocate of the financial benefits of improving Customer Experience. Grateful for any past, present or future customer of Ryanair. Customer retention and loyalty CX Professionals CX Strategy Travel customer experience Michael O''Leary Ryanair Ryanair Customer Experience Tony Ryan'

Brands 249

Brands Airlines Financial Travel 249

eglobalis

JULY 31, 2024

We will also explore the unique challenges faced by the CX industry and how specific MarTech solutions can benefit B2B customers, with a global focus. The APAC region, known for its rapid technological advancements and tech adoption as its diverse markets, presents unique opportunities and challenges in the realm of customer experience.

Customer Experience 430

Customer Experience Social Media Analytics Chatbots 430

ijgolding

DECEMBER 22, 2014

Once presents have been opened and copious amounts of food and drink consumed, I settle in to the relative calm of the five days that separate Christmas and New Year. As we near the peak of the festive season, there are a number of annual rituals that I look forward to undertaking.

Loyalty 268

Loyalty Hotels Customer Retention Consumers 268

Experience Investigators by 360Connext

JANUARY 7, 2025

Your CX strategy should reflect where your organization currently stands with its customer experience and define a clear vision for where you can go next. A well-defined CX strategy can help you drive tangible business outcomes: Greater customer retention, a stronger brand reputation, and faster revenue generation.

Customer Journeys 143

Customer Journeys Strategy Customer Experience Touchpoint 143

Calabrio

MARCH 25, 2025

Driving Business Growth and Success: Exceptional customer experiences translate to increased customer retention, positive word-of-mouth referrals, and ultimately, significant business growth. These tools should present data visually, using charts and graphs, and offer clear, concise explanations of each metric.

Call Center 130

Call Center Measurement Self Service How To 130

TechSee

OCTOBER 2, 2019

Other industries faced with high churn rates due to poor customer service include retail/ecommerce (12%), healthcare-related products or services (12%), insurance (11%) and banking/financial services (11%). This underscores the fact that churn plagues all verticals and customer retention strategies are critical to almost every industry.

Survey 164

Survey Customer Service Social Media Telecommunications 164

InMoment XI

OCTOBER 23, 2024

Here are a few reasons why customer experience in banking is an even bigger competitive advantage than ever before: It helps build trust during uncertain times. In a period of financial anxiety, customers are looking for institutions they can trust. It is a proven way of retaining customers.

Banking 195

Banking Customer Experience Effort Score Financial 195

CloudCherry

JUNE 13, 2019

And the most interesting thing is that bank staff, and chatbots can work together in the banking industry to give the best services for the consumers and present more than 100% satisfaction for them. Combined Effort For Customer Retention. Banks can attract a lot of customers daily. Use Live Chat for Real-Time Support.

Banking 267

Banking Tools Engagement Chatbots 267

Kayako

MAY 11, 2017

Know your customers. Picture the last time you bought a loved one a birthday present that they truly appreciated. Now, think about the last time you bought a really terrible present for someone. Let’s look at each of these steps. How did you go about figuring out such a perfect gift?

How To 248

How To Case Study Customers Industry 248

InMoment XI

NOVEMBER 20, 2023

Customer retention rates and customer service can be improved by using AI to actively listen for qualitative feedback and elicit more valuable responses. This personalization not only enhances customer satisfaction but also drives sales and fosters brand loyalty.

Customer Experience 243

Customer Experience Strategy Chatbots e-support 243

Experience Investigators by 360Connext

AUGUST 17, 2021

CX meetings require thinking about the past, present, and future of the customer experience program. What’s new: What is customer feedback telling us? Check In: Review customer feedback and discuss any key customer experience metrics. . This is a good time to address processes around customer feedback, too.

Meeting 364

Meeting Customer Experience How To Net Promoter Score 364

InMoment XI

AUGUST 19, 2024

Why is Customer Experience ROI So Important? Investing in customer experience isn’t just about making customers happy—it’s about driving substantial business growth. As a result, ROI becomes a crucial metric in customer experience metrics for any business focused on achieving lasting success.

ROI 195

ROI Customer Experience Net Promoter Score Effort Score 195

ijgolding

NOVEMBER 18, 2014

In my experience, the prospect of travel creates a nice equation – especially when put in the context of customer experience – the equation is as follows: EXCITEMENT & ANTICIPATION = EXPECTATION . or presents for the kids?; Failure to meet customer expectation can be fatal. or a new smartphone?;

Customer Expectations 215

Customer Expectations Hotels Airlines Travel 215

Lumoa

AUGUST 23, 2021

Although we refer to the “post-pandemic world” in this article, we understand that we’re still in the middle of it all — we just hope we can provide a little hope and guidance for the present and future reality of a post-COVID world. However, customers say that most companies fall short when it comes to meeting their expectations.

Customer Experience 221

Customer Experience Social Media Video Customers 221

TechSee

JUNE 23, 2020

Leading enterprises are all actively engaged in the race to build smarter virtual assistants that can respond to more complex customer queries, creating personalization at scale, and putting the AI in multiexperience. In other words, a company’s virtual assistant needs to be present across all channels.

Self Service 207

Self Service Multi-Channel Contact Center Touchpoint 207

Lumoa

JUNE 14, 2023

Everyone from customers to investors and stakeholders will be wary of associating with a company that can’t seem to get its customer experience right. According to Harvard Business Review, acquiring a customer costs anywhere from 5 to 25 times more than retaining an existing one. But the damage doesn’t stop there.

NPS 195

NPS Effort Score Customer Centricity Loyalty 195

Calabrio

JUNE 1, 2017

While many members of the C-suite continue to put the customer experience as a brand’s top priority, the challenge of creating a customer-first model lies in the lack of tools, siloed data and misalignment on job ownership.

Brands 162

Brands Customer Experience Chief Customer Officer Contact Center 162

ImprintCX Articles

NOVEMBER 12, 2024

This point is particularly timely, as Beth Karawan , co-founder and EVP of ImprintCX, highlighted in a recent Women in CX presentation, emphasizing the central role of collaboration in CX success. When CX leaders drive collaboration, they can ensure smoother customer journeys, which is essential to retaining customers over the long term.

Customer Experience 52

Customer Experience Chief Customer Officer Competitive Advantage Customer Retention 52

Experience Investigators by 360Connext

APRIL 23, 2024

CX leaders know customer experience (CX) is not just about transactional exchanges; it’s about building lasting relationships. But today’s C-Suite is still questioning the value of customer experience and asking if investing in CX is worth it. CX leaders need to present strong business cases for every step of their journey.

ROI 260

ROI CEM Net Promoter Score Customer Experience 260

C3Centricity

AUGUST 6, 2024

Yet, I know that this paradigm shift can present formidable challenges that many organisations struggle to overcome. In 2023 I wrote a popular post covering the ten most common challenges businesses face when starting their journey to customer centricity. times higher customer retention and 1.9

Strategy 156

Strategy Customer Centricity Culture Case Study 156

TechSee

JUNE 16, 2022

Shep Hyken, Chief Amazement Officer at Shepard Presentations. Shep Hyken is a customer service and CX expert, an award-winning keynote speaker , and New York Times and Wall Street Journal bestselling author. Roy is a prolific writer, speaker, webinar presenter, and podcaster as well as a contact center industry analyst.

Customer Service 251

Customer Service Contact Center Chief Customer Officer Call Center 251

BlueOcean

OCTOBER 4, 2023

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.

Contact Center 310

Contact Center Customer Care Average Handle Time Consumers 310

ijgolding

JANUARY 22, 2018

This involvement can create a positive workspace for your employees, where they feel not only that they have enough training to provide excellent customer service, but one in which they feel encouraged to go above and beyond for the customer.

Customer Experience 191

Customer Experience Social Media Abandon Rate Conference 191