The Best on Customer Intelligence – September Edition
Winning churn is a game changer. Businesses that have managed churn and improved their customer relationships and CLV are on a steady path to success. But what does it take to win a customer’s trust and have an ever-growing CLV?
We have picked the best of the internet to help you answer that question and much more on customer loyalty.
3 out of 4 members of top-performing loyalty programs changed their behavior to generate more value for businesses.
- 64% are more likely to purchase more frequently
- 50% are more likely to recommend to others
- 35% are more likely to choose the brand over competitors
- 31% are more willing to pay a higher price to stay with a brand
If you are intrigued by these statistics, you are in for a treat with the interactive read about customer loyalty and how it affects a business. Get a close look at the intricate aspects of winning customer loyalty with statistics to prove in the blog.
With inflation, businesses are facing an imminent threat in terms of churn. However, some businesses stand a chance not just to survive but thrive. Get your hands on this study by Mckinsey & Company that gives an insider’s view on changing customer behavior and how companies tackle pessimistic behavior.
Sentiment analysis is one factor determining the sale, making it essential for businesses to decode the sentiments of their customer base. There are many benefits to sentiment analysis; however, get familiar with the five primary reasons why sentiment analysis will help businesses nurture long-term customer loyalty with this article from Forbes.
Get familiar with the four metrics that show you if you are winning with your customers. Relationship: Customers’ Willingness to Recommend, Transactional: CX Surveys, and More CX Surveys, Financial: Engaged, Satisfied Customers Only Means Growth, Employee: Happiness More Important Than Ever.
While businesses are aware that no number of machines beat the importance of human interactions, AI is undoubtedly taking over. Technology has been evolving in industries, and companies are looking to incorporate technology into their operations.
Here’s a glimpse “The companies that provide the levels of customer experience that ‘resonates with the audience in ways that a program can’t replace will be the ones that win — ‘Same as it ever was.'”
Gaining customers’ trust means businesses must do their part in social issues. The factors for people to trust a company are changing; their stance on social issues makes them more likely to be loved by the people. Get your hands on this blog that shows how to align your business with the purpose and listen first from Salesforce.
In lieu of inflation, Shrinkflation (reduced size) and skimpflation (reduced quality) are becoming the “new normal.” “62% of consumers say they’ll stop buying from brands which change product size or quality to cut costs. Only 7% said they would continue purchasing from a brand that cuts costs in this way,” according to a June 2022 survey by Gartner.
Get a glimpse of the wake-up call and the solutions to avoid a customer outrage directed at businesses with the blog from Customer think.
This was the best of the internet for August. We hope these blogs open doors to your questions with answers regarding customer loyalty. We publish the best articles on all this customer churn and retention every month; look out for more.