Customer Retention or How to Hold on to Your Customers

Customer Retention or How to Hold on to Your Customers

In business settings, customer retention is one of those terms that never goes out of style. Research shows that a 5% increase in customer retention can increase profits by up to 95%. According to other studies, the cost of retaining an old customer is five times lower than that of acquiring a new one. The key takeaway here is that…

10 Steps to Improving Customer Service Productivity

10 Steps to Improving Customer Service Productivity

What is productivity in customer service? Why is it critical for your company? How can you measure customer service productivity, and what can you do to improve it? If you’ve ever asked yourself any of those questions then you’ve landed on the right article. What is Customer Service Productivity?  Customer service productivity refers to the…

Customer Service: From Money Pit to Profit Center

Customer Service: From Money Pit to Profit Center

Until recently, customer service was a less pronounced aspect of business, and not much thought was put into making it a value-add. The thinking behind this was that customer support was only useful for receiving complaints from begrudged clients.  Accordingly, CFOs considered it a cost function — hire customer service reps and fund their operations,…

What’s Your Customer Effort Score?

What’s Your Customer Effort Score?

Even if you’ve been living in a cave, you must’ve probably had to interact with a brand, whether to make an inquiry, a purchase, or lodge a complaint. Subconsciously or not, you may have held certain expectations of convenience in your interaction with them.  If you think you’re alone in this sentiment, think again. Customer…

The Importance of Customer Satisfaction

The Importance of Customer Satisfaction

Yes, product quality matters. Yes, a competitive price will get you far. But, the data has spoken. Data shows that 66% of consumers care more about the experience than price. It, therefore, stands to reason that the success of your business depends on the overall experience and customer satisfaction you deliver. While customer expectations are continually increasing,…

What’s your Net Promoter Score?

What’s your Net Promoter Score?

Quantifiable metrics allow you and your team to measure and compare the effectiveness of almost everything in your business. By measuring how customers respond to your products, services, and processes, you find ways to improve and grow. One of the most popular metrics to follow, particularly in customer service, is Net Promoter® Score (NPS). In…

The Benefits of Improving First Contact Resolution Rates

The Benefits of Improving First Contact Resolution Rates

What is First Contact Resolution? First Contact Resolution (FCR) measures your ability to resolve a customer’s issue the first time they get in touch thus, eliminating the need for a follow up. Many consider FCR to be one of the cornerstone metrics of contact center productivity as it helps assess agent performance and operational efficiency…

How to Harness the Power of Customer Self-Service

How to Harness the Power of Customer Self-Service

In a recent study, business professionals said that their number one priority for the next five years is the customer experience. Adding to this, 67% of customers say that they prefer the option of self-service over speaking to a company representative. Combine these facts together and the value of customer self-service in the digital age…

The 12 Best Customer Service Software Platforms for 2023

The 12 Best Customer Service Software Platforms for 2023

Customer service software is crucial to providing your customers with an exceptional customer service experience, which helps to facilitate business success. According to Financeonline, “Customer service of the near future will move towards a direction where humans and computers work together to find solutions to customer issues.” As a result, using technology to improve customer…

Your Guide to Choosing Customer Service Software

Your Guide to Choosing Customer Service Software

Effective customer service is key to the survival and growth of any business. But how do you choose the right customer service software for your company? This guide will help you answer that question. To choose the right customer service software, consider a solution with features that address your goals. The software should be easy…