Customer Lifetime Value: What Is It & How Can You Increase It

Content measurement is an important task that internet marketers must master in order to create content marketing campaigns that achieve desired results.

It also determines the content ROI, enables marketers to gauge which pieces of content are best serving its purpose, and determines whether or not their content is serving its purpose.

With this in mind, content marketers should focus on four key areas of content measurement.

For instance, some businesses develop web content to attract local customers.

Others develop content to attract global visitors.

Identifying your customers is a critical first step in content measurement because knowing who you're trying to reach helps your business reach more potential customers.Evaluate Goals.

New Business Strategies®, a global B2B marketing and customer experience professional services firm, has been selected as the external marketing agency for SmartForce® Technologies, Inc., a leader in insights-driven, crime reduction software.SmartForce Technologies has signed on with New Business Strategies’ Parachute Services, a suite of services designed to accelerate marketing results and program execution.New Business Strategies was selected for its approach, client-first/can-do culture, and proven track record.

The Parachute Services that SmartForce signed-up for include demand generation, content strategy and creation, customer marketing, media communications, product, and digital marketing.SmartForce Technologies enables local, state, and federal law enforcement agencies to boost intelligence-led and data-driven crime reduction strategies.

Through the SmartForce SmartComms platform, agencies can measurably reduce crime, violent crime, and manhours spent solving crimes by improving productivity and collaboration between Investigations, Crime Analysis, Patrol, Specialty Units, and other law enforcement partners.“We have worked with several types of marketing consultants and approaches without the results we were seeking,” said Brian McGrew, SmartForce Technology’s Vice President of Sales and Marketing.

“New Business Strategies stood out for their experience, reputation, and aggressive yet pragmatic approach to achieving results.”“Our selection by SmartForce Technologies further demonstrates that our differentiator is our ability to leverage decades of experience into a focused, ‘hit the ground running’ approach aligned to clients’ needs and culture.

We are honored to serve SmartForce,” said Christine Crandell, President of New Business Strategies.

“Time is the new basis of competing.

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Staying vigilant on the customer experience and how it can influence your chances of business conversion is key to success.

You have the officially integrated analytics provided by app stores and developer consoles.

But you can also opt for an array of third party analytics tools that can provide few more layers of insights on the app usage.

Some of the key metrics to track when evaluating app analytics tools include:

Lifetime value of the user

Average active users (MAU and DAU)

These types of companies essentially maintain servers, databases, and software that allow the application to be accessed over the internet, this type of software can be accessed on any device.While most other companies are considered to be thriving when having an annual growth rate of 20%, 92% of SaaS companies fail if they show this growth rate.

While conventional marketing consists of focusing on customer acquisition a lot more than retention, SaaS content marketing has achieved both, as customer retention is just as important, if not more, for SaaS businesses.

This is due to most SaaS businesses choosing to reinvest into their customer software, marketing automation, and other product developments.

These tools help SaaS firms with customer demand, outreach and conversions as they create an enjoyable customer experience.

Conventional MarketingThe main difference between conventional and SaaS marketing is that the software-as-a-service marketing funnel is a lot more detailed and precise as compared to the traditional marketing funnel.

This funnel type is very different from conventional marketing because it does not only focus on generating a lead, but also on retaining customers, a process that usually happens after the purchase has taken place.

Customers who had the best past experiences spend 140% more money compared to those who had the poorest past experience.

And this contact happens at crucial moments when a customer’s satisfaction is at stake.

A support interaction may go something like this:

A customer reaches out to a SaaS company’s support team to get a feature to work

A support agent engages with the customer, listens to the customer and helps make the feature work

As the conversation unfolds, the agent asks questions and makes an effort to learn what the customer truly wants to achieve with the software, beyond the initial reason for the contact see more

Recently call centers have evolved rapidly in many sectors such as banking, retail, Government, tourism etc. from being a simple add-on, customer-facing service to an important differentiator. In today’s race for competition and internationalization, customer satisfaction can have a serious impact on a company’s bottom line where, though one can easily calculate the direct loss of losing a customer, he often ignores the damage caused due to customer sharing his negative experience in his immediate social circle. Before diving further into the ‘how’,

Let’s take a look at ‘why’ customer satisfaction is so crucial for your business-

– Happy customers will always interact with your brand over and over again resulting in higher revenue.

– Because offering terrible customer service can make them switch over to the competition in a heartbeat.

– Great customer experience leads to brand promotion via satisfied customers sharing content across social media.

– Providing better service quality than your competitors will also give you an edge over the competition.

So, it doesn’t matter whether you run an in-house customer care team or availing your services from an Indian outsourcing company or any such, as long as you are ignoring the fundamentally interactive nature of customer service transactions, chances of improving customer satisfaction in your call center will always be slim. Below are some such transformative ideas to help you along the way toward generating the virtuous circle that customer service is always meant to create.

Abstain from the Agent Maze

Don’t waste time by escalating or passing over the problem to multiple agents who cannot help them and, in the process, leave unsatisfied customers and frazzled agents. Instead, install data-directed routing system to your contact center platform to automatically directs the calls to the best possible agent. Also encourage operators to handle situations on their own by spending time with the customers, thus taking full ownership of the problem.

Provide Multiple Support Channels

Making yourself available on as many support channels as possible and providing multi-support channels such as telephone, email, live-chat, social media etc. to your customers goes a long way toward improving customer satisfaction and higher retention. It not only offers a seamless transition between channels but also works well for customers who want greater flexibility and real-time interactivity.

Bestow a Human Touch

Providing a humanly touch to your customer service is the best way to make sure all your customers get equal and excellent service. You can do this by

• Engaging customers proactively
• Keeping your agents accessible at all times
• Keeping your language simple
• Always ask for a feedback
• Offer personalized recommendations
• Treat customers as individuals rather than demographics

Use KPIs to Measure Satisfaction

Choosing the right KPIs or Key Performance Indicators such as Net Promoter Score, Overall Satisfaction, Brand Attributes etc. to measure key metrics and analytics is crucial to building a service footprint that delights customers and delivers insanely great experiences by gathering actionable insights to guide long-term planning, smoothing out the kinks in the system along with fostering goals and objectives among staff.

Monitor Performance through CSAT Scores

CSAT or Customer Satisfaction Surveys is a form of research based on your customer’s reviews regarding your company’s performance. It’s a great way of understanding your customer’s requirements and concerns in order to improve the quality of your products and the standards of your service to that of the customer’s needs which in turn will improve customer loyalty and generate revenue and profitability.

Never Underestimate the Importance of Critical Moments

Creating meaningful relationships is a sure shot way of standing out from the crowd. Though there are numerous ways of showing your appreciation but keeping track of and acknowledging critical moments such as anniversaries, birthdays and other important achievements with the help of various tools available in the market will help strengthen the relationship and take you long ways towards your journey to success.

Wrapping Up

Customers’ expectations are constantly on the rise, sometimes even faster than the speed with which call centers in India and elsewhere can improve their customer satisfaction service. The important thing to understand here is that customer service is an area that needs great nurturing and care with focus and in due time, you will be rewarded with a positive impact on customer loyalty, increased revenues and higher retention.

Original Source: https://www.theoctopustech.com/how-to-improve-customer-satisfaction-in-your-call-center/

Ideally, agencies prefer to maintain a full stack of freelancers.

They do this to stay prepared for uncertainties such as a freelancer falling ill or ending the contract on short notice.

For agencies looking to create better lifetime customer value, a freelancer is not the best choice.

With a white label content marketing service, agencies and marketers get 24*7 access to an expert team of content creators and digital strategists.

The white-label content team has credible and proven experience.

They are masters at delivering high-quality and relevant content on schedule as well as on-demand.

The basic goal of keeping customers satisfied has always been at the heart of Customer Services. Back in the days, it meant taking occasional phone calls from an upset customer & assuring them of resolving their issues. Things aren’t the same in the modern days.

The biggest change in customer service is the sheer number of channels through which people can contact your business. Instead of just phone calls and emails, customers can now reach you via social media, video call, text message, or even live chat.

The rate at which it’s been accepted across the corporate world, you can’t simply overlook it. It’s no more an option to update your skills and use the latest tools and technology in order to provide the best customer service to the customers. You’ve got to stay in the game!

Here are a few customer service trends that I think will rule this year & beyond

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