Have you ever wondered why some customers leave your business, never to return? That’s what we’re here to talk about today: churn. Also known as customer attrition, churn happens when customers stop doing business with a company. It’s a crucial metric for any business as it directly impacts revenue growth
Sometimes it seems like customers hit “eject” on their relationship with you, and there’s no reason for it. Sure, some churn is inevitable, but when customers are leaving, it’s important to understand why and what you can do about it. It seems everyone has an opinion about what makes an
Think back to your last customer service interaction. Maybe it went great! Or, more likely, there was room for improvement. Perhaps it began with an online search. But since you couldn’t find the answers you needed online, you turned to the customer service number. You may have encountered some hold
Imagine you’re about to contact a company’s customer service. You come to find out the employees are unhelpful and the wait time is long. Would you continue to do business with them?
Customer satisfaction in the mortgage industry is slipping — and the decline says a lot about the state of long-term relationships in this space. Mortgage satisfaction scores already trail best-in-class industries by 30% to 40%, but a closer look at different stages of the process reveals even more. According to
The value of brand loyalty cannot be overstated — especially in the banking sector. Loyal customers spend more with their bank, cost less to serve and are more likely to recommend the bank to friends and family, according to Bain & Company. But in an era where customer expectations are
Email is a powerful marketing tool. Despite the continued growth and innovation of other channels, email campaigns remain one of the best ways to promote your brand and keep your audience engaged. Can you embed a video in an email? Yes! And what’s more, you absolutely should. When you embed
People are ready to explore. Travel has not only bounced back — it’s thriving. In 2024, international tourism officially returned to pre-pandemic levels, and the demand for travel continues to surge. In fact, travel ranks as the top discretionary expense people are most excited to spend on, ahead of dining
Why bother keeping an eye on your current customers if there’s a whole world of potential new customers ripe for the picking, right? Unfortunately for everyone, that seems to be the mentality of quite a few businesses, and it couldn’t be more wrong. While there may be a short-term gain
When something is broken in your business, it can be difficult to come together as a team and identify the root of the problem. In the case of customer churn, however, there’s a strong consensus among industry experts who say that your broader customer experience strategy has a profound impact
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