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Customer Experience

After an influx of new customers, you may be tempted to move on and focus all your efforts on additional sales. Resist the impulse. Focusing too much on customer acquisition as opposed to customer retention can harm your business. Getting new customers can cost up to 10 times more than keeping and growing with those that you already have. According to Inc. Plus, you’re likely to lose a lot of them if you aren’t making an effort...

To understand NPS (Net Promoter Score), ask yourself how likely you would be to recommend your last clothing purchase on Amazon to a colleague. Your response to that question, referred to as the “Recommend Question” by Net Promoter Network, defines how valuable you are as a customer to the clothing company. If your response is that it would be very likely that you would recommend the brand, you are considered a promoter for the company and...

Online shopping appears to be the perfect method to grow a  company in an increasingly globalized world. Considering that everything you want to buy is a click away, it may be surprising that the Baymard Institute estimates that 68.6% of shopping carts are abandoned. This translates into approximately $4 trillion worth of merchandise lost every year! However, according to Business Insider estimates, 63% of these losses are recoverable. Here are 5 ways online retailers can encourage...

There’s one major reason why you’re still making cold calls: they work. Sales expert Alen Mayersays cold calling is “an effective and powerful sales tool” — when done correctly. In a study byDiscoverOrg, 75% of 1,000 IT senior executives reported that they’d made decisions to book an appointment or attend an event as a result of cold calls they’d received. From poor delivery to a bad script, it’s easy to mess up a cold call. But steer...

A new year means reflecting on your customers’ habits — including their spending patterns. After the holiday shopping frenzy, it’s no wonder that many customers are encountering feelings of loss aversion. The principal of loss aversion suggests that people will avoid monetary losses at all costs, even when it doesn’t make logical sense. For example, people may hold on to items that they know they’ll never use or spend extra money unnecessarily just to earn vouchers or...

So now that you’ve reeled in a new customer, the hard work is over, right? In many cases, the work has just begun. Customer retention is just as important as customer acquisition. According to Amy Gallo’s report in the Harvard Business Review, “increasing customer retention rates by 5% can increase profits by 25% to 95%.” Plus, while the likelihood of a new customer buying your product is about 20%, the probability of an existing customer making...

While everyone wants to feel empowered and cared for by their insurance agent, few things can squash those happy vibes like getting a little too much attention. And once your client’s enthusiasm starts to fade  — once she starts to question your motives — you run the risk of losing her to a competitor. Here are three things to keep in mind if you want your clients feeling engaged without suffocating them: 1. Create an accessible content repository. Sometimes,...

Over the last decade, there has been an enormous shift in focus from product to customer.  Whereas product quality was once the main priority, customer interaction has taken center stage as the new frontier for achieving competitive advantage.  Deep-level communication with customers leads to loyalty if nurtured properly. This loyalty means customer retention and customer retention means retaining market share.  No wonder businesses are trending toward this shift so quickly. Your company is probably no different.  The...

Your sales team is fantastic, your email campaigns get enough opens and clicks to make your head spin, and your homepage views are through the roof.  But your conversion rates?  Not so much.  It just doesn’t make sense, does it? Well, let’s pause and see where the friction actually starts.  Lots of people are interested in your product since they’re visiting your website to learn more, but once they are there, they drop off in droves.  Check...

Marketing automation has been the pinnacle of customer engagement ever since Amazon managed to really get it right.  The purpose of automation is to provide personalization without human intervention. This is useful and important at the very top of the funnel when it comes to directing customers on the right path. However, actually selecting and purchasing the products is another story. It’s the Automation Apocalypse Customers today love buying online because of the speed and access to price...