How Can Sentiment Analysis Improve Customer Experience?
When it comes to CX, having a great product or service is just the beginning. To truly understand how customers feel about your brand, organizations need to gather data from various customer feedback channels to get a comprehensive view of how the market perceives your brand. However, manually sifting through a massive amount of textual […]
Unlocking Insights into Customer Relationships
Understanding what drives customer relationships–and how to move the needle– is certainly a challenge, but it’s also key to success and growth. At CSP, we’ve taken this challenge head-on by developing the Customer Relationships Index Study—a comprehensive analysis tool designed to provide businesses with deep, actionable insights into their customer interactions. Over the years, we’ve […]
What Is Customer Retention?
Customer retention is a company’s ability to keep customers over time – instead of switching toa competitor. Since keeping existing customers is often more cost-effective than acquiring newones, customer retention is critical to business success and growth. Loyal customers are morelikely to make repeat purchases, recommend the company to others, and provide valuablefeedback. Customer retention […]
CSAT vs NPS: What’s the Difference?
Understanding and measuring customer sentiment is vital for success in today’s customer-centric business landscape. Two key metrics that provide valuable insights into customer experience are the Customer Satisfaction Score (CSAT) and Net Promoter Score (NPS). While both metrics are essential for gauging customer feedback, they serve different purposes and offer unique perspectives, which we’ll discuss […]
CSAT Score Overview and How to Measure It
Understanding and prioritizing customer satisfaction (CSAT) is essential for business growth and success. The CSAT score measures a company’s performance in meeting customer expectations and fostering loyalty. Understanding your CSAT score can help you retain and attract new customers through positive word-of-mouth and referrals. CSAT also provides insights into improvement areas, helping you refine products, […]
A Guide to Customer Lifetime Value (CLV) – And How to Calculate It
Understanding the financial impact of your customers is crucial for the long-term success of your business. Customer Lifetime Value (CLV) is a key metric that helps you do just that: it measures the total revenue a customer is expected to generate over the course of their relationship with your business. Unlike other customer metrics that […]
