Results for : customer retention

Four Customer Experience Best Practices That Create Brand Engagement

Modern marketing and sales enablement revolve around achieving the best customer experience in meaningful ways. It’s not an easy proposition because intense competition has created a high degree of functional similarity everywhere we look. Even the iconic brands face the prospect that other manufacturers will emerge with look-alikes that work…

What is Customer Experience Management?

Customer experience (CX) is a modern-day marketing focus. It recognizes that keeping your customers engaged and satisfied with your product or service is crucial to profitability. Numerous online and offline touchpoints keep the process moving forward in every customer journey that culminates in a memorable customer experience. It begins when…

Building Customer Value to Sustain Company Profitability

Before we get into customer value, we should address the difference between a customer and a consumer — the two are not always the same. For example: B2C: when a mother buys a toy for a child, she is the customer, the child is the consumer. B2B: an IT purchasing…

Customer Loyalty Programs: A Crucial Part of ROI-centric Strategies

Let’s face it, when all is said and done, sales revenue is the lifeblood of your business. Without sales, there’s nothing to talk about — no bottom line, no ROI — nothing! Unless the company has stable, low-cost customers buying repeatedly, it’s unlikely you can achieve and sustain the P&L's…

Customer Lifetime Value (CLV) – A Key Metric in the Pursuit of Customer Service Feedback

What is the lifetime value of a customer? Marketing executives in businesses all over the USA are concentrating on getting the most out of customer lifetime value. It's another way of saying they're trying to derive the highest customer net profit over the entire time that the customer remains committed…

Why Customer Retention is a Crucial Part of Company Strategy

What is Customer Retention?  Losing clients is costly. It far outweighs the expense of earning new ones by up to twenty-five times. Therefore, it pays handsomely to hold on to customers that are faithful over a long time. The opposite of customer retention is customer churn, where businesses keep losing…

How To Use Data To Improve Customer Experience

What is data and why is it so important? Businesses with the foresight to differentiate their products and services in the digital era are relying on what's undoubtedly the most valuable asset in both commerce and scientific endeavors. We talk of none other than Data. Think of it this way:…

A Data-Driven Approach to Closing the Customer Feedback Loop

Closing the customer feedback loop is a widely adopted business practice. Some even consider it the holy grail of customer service – by quickly contacting customers after they have provided feedback, businesses aim to reduce churn and increase customer loyalty and engagement in addition to other potential benefits. However, closing…

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