Customer Profitability Analysis: Definition, Formula, Benefits

Customer Profitability Analysis: Definition, Formula, Benefits

Businesses need all sorts of data to evaluate the performance of individual teams as well as the business as a whole. One such metric is the customer lifetime value (LTV), which we’ve already talked about. However, it’s not a comprehensive metric. This is why more and more businesses are switching to a customer profitability analysis…

What is Average Handling Time?

What is Average Handling Time?

Managers across businesses rely on a variety of metrics to evaluate how the business is doing. Usually, every team has its own key performance indicator they have to track. For support teams, one such metric is average handling time. Tracking it can tell you how efficient your support team is or where it’s lagging behind….

Customer Satisfaction: Definition, Importance & Examples

Customer Satisfaction: Definition, Importance & Examples

In 2022, customer satisfaction is the only reliable way to keep your customers coming back. 81% of marketers believe customer satisfaction to be the ultimate factor for retaining customers. Keeping customers satisfied is especially important now because 50% of customers are willing to switch after a single bad service experience.  Yes, that’s right, 50%. A…

7 Actionable Tips to Reduce Customer Churn Rate

7 Actionable Tips to Reduce Customer Churn Rate

Business needs customers and no one love losing their customers. Companies rush to acquire new customers but often lose sight of retaining their existing customers. And that’s when customer churn happens. Building a long-lasting relationship with your existing customer is vital to growing your earnings. Sometimes it is inevitable that customers will stop doing business…

10 Ways to Measure Customer Service

10 Ways to Measure Customer Service

Customer service is essential for businesses to provide their customer with an excellent customer experience (CE). Businesses must ensure good customer service. The quality of customer service is a critical factor in a good customer experience (CX). How can business measure their customer service? Here comes customer service metrics. A company’s customer service metrics indicate…

8 Types of Customer Support Data & How to Collect Them

8 Types of Customer Support Data & How to Collect Them

Knowing your customers is the first step to building a sustainable business. You can learn a lot about your customers by analyzing your customer support data. Support data will help you discover your customers’ interest in your products or services, as well as how and when they interact with them. Then you can more precisely…

7 Ways to Make Most of Your Customer Support Data Effectively

7 Ways to Make Most of Your Customer Support Data Effectively

Customer data is the single most valuable thing to a business. Customer support data is one of the types every business should consider collecting, analyzing, and learning from it. Your support team knows about your customer better than anyone. They are in touch with your frustrated customers daily; they know their pain points and how…

Effective Customer Support Strategies

Effective Customer Support Strategies

Customer retention is by far the most difficult part of any long-term business strategy. After all, it can take up to 5-25x more investment to acquire a new customer compared to retaining an existing one. The question here is, does customer retention only depend on how great your product or service is? The short answer…

End of content

End of content