A five percent increase in customer retention can increase business profits by 25 percent. That’s substantial, but according to the Harvard Business Review, it may be on the low side. That same five percent retention increase may be able to increase revenue by up to 95 percent.
Topics: Customer Retention, Customer Communities, Customer Support, Customer Experience, Online Community
Historically, organizations have struggled to integrate community into their infrastructure and customer-facing offerings. Community is often looked at as a standalone application or service that’s tacked onto a company’s overall suite of platforms, such as their corporate website, their marketing automation platform, their email engine, and their CRM.
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Topics: Online Community Management, Customer Communities, Customer Experience, Online Community
If you watch budget design shows on TV, you know that one of the designers’ favorite tricks is paint. It’s cheap, fast, and gives a whole new look to furniture and walls. Rarely do you see a makeover on a budget that doesn’t at least paint an accent wall. White walls hardly ever remain white.
Websites are the white wall of your marketing plan. You can make little changes to pique people’s interest and move potential customers and members further down the sales funnel.
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Topics: Customer Experience, Marketing, Member Experience, Online Community, Marketing Automation
Which is easier for you to pinpoint, the number of new customers you won last quarter or the number of current customers who left your company?
For most businesses, it's easier to rattle off new customer numbers. That's because the majority of marketing and sales efforts (and executive focus) go toward attracting and winning new customers. Every day, marketers are becoming more and more efficient at winning new business through digital relationship-building approaches like inbound.
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Topics: Communications, Customer Experience, Customer Success, Customer Retention, Online Community, Marketing Automation
I'm attending a wedding next month. This is a wedding without a gift registry, which should be illegal because I spent well over an hour scrolling through "wedding gifts" on Amazon before I figured out what to give the happy couple.
Gift hunting was exhausting and stressful, so I waited until the next day to look for a dress to wear. That, however, went much faster. As soon as I logged on to Amazon I was shown some beautiful, wedding-appropriate dresses (along with a few "congratulations" greeting cards). The dresses were Amazon's suggestion, and that personalized recommendation created an ideal online experience for me.
Amazon is a master at this. They're incredibly effective at engaging their audience through personalization, including on-screen purchase suggestions and personalized emails.
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Topics: Engagement, Marketing Automation, Customer Experience
The Customer Experience Professionals Association (CXPA) was founded in 2011 as a premier, global non-profit organization dedicated to the advancement and cultivation of the customer experience profession. The organization aims to increase both impact of visibility of customer experience professionals, facilitate effective member-to-member sharing, and establish respected industry standards.
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Topics: Marketing, Customer Experience, Customer Communities, Online Community
When I joined my first online community 8 years ago, I was excited to see and take part in key discussions in my industry. The association I belonged to had launched a private online community for members earlier in the year and I couldn't wait to get involved. But when I logged in, I thought there was something wrong with my browser. Every group and discussion area was a ghost town. Even the questions that I now know were seed questions from the organization didn't have any responses.
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Topics: Online Community Management, Engagement, Member Experience, Customer Experience, Online Community
Think back to your first job out of college. You were probably excited and wanted to learn everything. You may even have been eager to work your way up in the company.
What about now? Are you still at the same organization you joined right out of high school or college? Most people aren't. For one reason or another, people leave. They find new jobs with better opportunities, or more fulfilling work. That can be a problem for the organizations they leave behind, associations included.
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Topics: Online Community Management, Online Community, Member Experience, Customer Experience
Event planning is a sexy career filled with all the glamour of fancy dresses, cocktail parties, and worldwide travel, right? Not quite. Those exciting perks are just a few of many common misconceptions in the event planning industry.
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Topics: Online Community, Marketing Automation, Member Experience, Customer Experience, Engagement
It’s true -- you can read minds and predict the future.
Sure, communities can help you with customer acquisition and retention, but they can also help you forecast what your members want or need -- improving your members’ experience and your organization’s bottom line.
How can your community help get you inside a member’s head and learn what they truly think and what they really need?
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Topics: Online Community Management, Member Experience, Customer Experience, Online Community
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