article thumbnail

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.

article thumbnail

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
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Sales Enablement In a Remote Work Reality

Sales and Marketing Management

Author: Liz Pulice In recent years, many companies have implemented remote work arrangements, driven by financial incentives, recruitment/retention initiatives and other factors. For events (such as sales kick-offs), how can I preserve the pre-work, event work and post-work structure to maximize retention? Reacting proactively.

article thumbnail

Duplicate This SaaS Onboarding Process and Best Practices to Create Raving Fans

Gong.io

Because helping users achieve desired outcomes can increase retention rates. Onboarding has the biggest impact on retention in the customer lifecycle. Churn, also known as customer attrition, is the percentage of users who cancel a recurring subscription within a given period. Increases net dollar retention. Here’s why.

Churn 62
article thumbnail

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.

article thumbnail

14 of the Best KPIs for Sales Managers to Track

Nutshell

It can also shine a light on customer fit, customer retention efforts, and more. CLV formula: CLV = (average transaction size) x (average number of transactions) x (retention period) 2. Retention rate Customer retention rate measures the likelihood your business will keep customers over a given period.

article thumbnail

How to Boost Sales with Buyer Intent Data

Crunchbase

By mapping out your prospects’ behaviors and capturing their interest, buyer intent data offers insight into your potential leads. A good set of data can find the buying signals coming from prospective customers and score leads based on their actions during their buying journey. Establish a targeted lead generation strategy.