50 Handpicked Resources for Customer Retention Leaders – July 2018 Edition

The response we received to the previous editions of the 50 handpicked resources has been welcoming among the customer obsessed leaders, and it has inspired us to develop another edition of it. These 50 best resources became popular on the internet during the second quarter of 2018.

Customer Retention:

80% of your future profits will come from just 20% of your existing customers. Despite the significance of customer retention, less than a third of business executives consider it a priority. The relations you create with your customers will define how your business moves forward. It’s up to you to make sure that your business moves in a profitable direction.

Following are a few popular articles on customer retention, which our curators found on the internet in the last quarter.

Customer Lifetime Value:

In today’s highly competitive market, improving customer lifetime value (CLV) must be given immense importance as it effects the bottom line. It’s evident that losing your high CLV customers and retaining your low CLV customers has a negative impact on your revenue based on their current level of spending. Understanding this would help you adjust your approach towards both groups by identifying alternative ways to hold on to profitable customers.

Customer Experience:

82% of consumers in the United States said they stopped doing business with a company due to a poor customer experience. Consumers today aren’t ready to just buy something; they are also looking for a great customer experience that complements the product or service. That’s why it’s essential to provide a level of customer experience that delights customers and builds a lasting relationship with them.

Customer Satisfaction:

A totally dissatisfied customer decreases revenue at a rate equal to 1.8 times what a totally satisfied customer contributes to a business. Businesses have to be trustworthy and deliver what they promise. By effectively delivering what you promise and going an extra mile, you can delight your customers, and this can lead to increased customer satisfaction.

Customer Service:

60% to 70% of customers will do business with a company again if it deals with a customer service issue fairly, even if the result is not in their favor. Companies with the best customer service also have great brand reputations. These companies have the ability to turn their customers into brand evangelists by treating them right, the very first time.

We hope that these 50 handpicked resources will offer you with fresh insights on the best practices, tips, techniques, and use cases for improving customer lifetime value, customer experience, customer satisfaction, customer service, and customer retention.

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