In today’s subscription-based economy, customers are no longer trapped in long-term contracts; instead, they are able to jump to competitors easily when they become dissatisfied with their current vendor. Consequently, many subscription-based and SaaS companies are turning to the practice of Customer Success to retain their customers. Customer Success is the function in a company […]
Business growth depends on acquiring new customers and keeping them around for a long time. Yet businesses are over 2x more likely to focus on acquisition efforts than they are retention efforts. In today’s post, I want to discuss why businesses need to increase their focus on customer retention efforts and why the are imperative to your […]
Businesses have been putting the customer at the center of their strategy for decades. Adopting a customer-centric strategy, businesses are building their company around the customer to ensure their customers remain satisfied with the relationship and receive value from their products and services. Business leaders are now relying on customer metrics as a way of […]
Data science methods and related tools (i.g., predictive analytics, machine learning) can help companies improve their customer success programs by answering 5 important questions about customer churn, including what is the current churn/retention rate (e.g., descriptive analytics), who is at risk for churning (predictive analytics), what actions can prevent churn (i.e., prescriptive analytics) and more. […]
A study of 80+ companies showed that analytical leading companies (those who use analytics to gain a competitive advantage), more so than analytical lagging companies, leverage their data differently. Analytical Leaders focus their analytics to improve customer loyalty while Analytical Laggards focus their efforts primarily to reduce enterprise costs. Additionally, Analytical Leaders, compared to Analytical […]
We surveyed 80+ customer-centric professionals in companies with formal customer-centric programs (e.g., customer experience, customer success) to determine the state of analytics in customer programs as well as identify what analytical leading companies (companies who use analytics to gain a competitive advantage) do differently in their customer programs compared to their analytical lagging counterparts. We […]
A new customer analytics survey of 80+ companies provides a look into the state of analytics in customer programs. Only 32% of respondents are satisfied with their company’s use of analytics to create a competitive advantage. The use of multiple survey methods is the most common practice across companies (80% of companies). The use of […]
Learn how to build your business around the customer using customer-centric measurement and analytics. Available in Kindle and paperback. Learn more about TCE: Total Customer Experience.
Beyond the Ultimate Question: Book includes comprehensive review of Net Promoter® Score (NPS) and presents better measures of customer loyalty and best practices of customer feedback programs.
Measuring Customer Satisfaction and Loyalty (3rd Ed.): Book includes discussion of how to measure the customer experience, including customer satisfaction and customer loyalty.