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,…

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 – it 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…

The Benefits of Improving First Contact Resolution Rates

The Benefits of Improving First Contact Resolution Rates

First Contact Resolution is one of the most commonly measured support metrics, and for good reason. The percentage of customer inquiries resolved at the first attempt directly correlates to customer service performance and customer satisfaction. In the following paragraphs we take a deep dive into everything you need to know about First Contact Resolution rates…

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 2024

The 12 Best Customer Service Software Platforms for 2024

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…