"Acquiring a new customer costs five times more than retaining an existing customer." This sales adage has been circulating so long that no one really knows where it came from, but one thing is ...
As businesses set new goals and standards for themselves in the new year, they should place extra emphasis on retaining customers and acting upon the valuable feedback they receive. Embracing customer ...
Having advised on the launch of dozens of restaurant loyalty programs, I’ve witnessed the transformative power of a well-executed loyalty strategy. However, based on my experience on the brand side, ...
To effectively track customer retention and ensure growth, customer experience (CX) leaders must have a clear view of customer retention as a basic statistic, as well as lifetime value (LTV). By ...
For modern brands, customer loyalty isn’t just built on great products; it’s sustained by consistent, personalized experiences across every touchpoint. The challenge? Many organizations operate with ...
The Voice of the Customer (VoC) is a collection of customers’ experiences, feelings, and expectations about a business, and it’s largely based upon customer feedback, reviews, surveys, interviews, and ...
SAN FRANCISCO--(BUSINESS WIRE)--LiveVox (Nasdaq: LVOX), a proven cloud CCaaS platform built to transform contact center performance, today announced that it has been selected by arrivia, a travel ...
Forbes contributors publish independent expert analyses and insights. Shep Hyken is a customer service/CX expert, author & keynote speaker. Loyalty programs have evolved far beyond their humble ...
As if car dealers didn’t have enough to worry about between affordability and supply issues and the economic and political climate, they might now be facing a loyalty crisis. Data from VehicleLyfe ...
Owners of plumbing and mechanical service companies often pour significant effort into winning new business. Yet customer retention—getting those same customers to choose you again and again—is ...
Editor's note: This is Part 1 of our two-part series on the retention reset. Today’s installment tackles the why: the post-ZIRP correction, why acquisition-first economics are failing and why ...
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