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Thinking About Retention, Renewal, Expansion Differently

Partners in Excellence

Retention, renewal, expansion is key to our success with customers. Retention, renewal, expansion, in all business models is critical to our continued success and growth. But somehow, we tend to think of retention, renewal, expansion differently from how we look at net new customer acquisition.

Retention 131
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3 Ways to improve Your Customer Retention Scorecard

Babette Ten Haken

Do you have a customer retention scorecard? I offer the following three ways to improve the health of your customer retention scorecard. When you take ownership of not only acquiring, but retaining customers, you develop your own customer retention scorecard. Customer retention matters when it is time to renew that contract.

Retention 154
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How To Boost Client Retention – Without Customer Service or Account Reps

Sales and Marketing Management

Harvard Business Review estimated that customer acquisition is 5 to 25 times as expensive as customer retention. What’s more, a Bain & Company study found that increasing customer retention rates by a mere 5% boosts profits by 25% to 95%. But awareness and action are two different things. What to do? Let me explain each one.

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Customer Enablement: The Secret to Increasing Customer Loyalty and Retention 

Mindtickle

If you deliver outstanding experiences before purchase, a prospect is more likely to convert. If you continue to provide the right tools and experiences post-sale, your customer retention rate will grow. If there are problem areas, you can work to improve – and increase the customer’s satisfaction and likelihood of retention.

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7 Must-Have Automated Documents for Sales Success

Companies are increasingly implementing technology to bring efficiency to their workforce. Data accessibility aside, teams continuously struggle with manual processes for document generation. Learn why automating your documents is key to sales success.

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Unleashing AI in a 124-Year-Old Company

Steven Rosen

He also explores the practical applications of AI in sales, including prospecting, customer retention, and pre-call planning. AI can improve customer retention by streamlining communication and providing real-time updates that enhance the overall customer experience and build stronger relationships.

Company 296
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Six engagement tricks for better customer retention

Salesmate

Customer retention is more budget-friendly than investing your time and money on finding new customers. Research done by the Harvard Business School proves that improving customer retention by 5% increases profit by 25-95%. Before we proceed further, we would like to dig deeper into customer retention. What are these metrics?

Retention 122