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Best Practices to Increase Customer Retention

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Many businesses focus on customer acquisition strategies to raise their profits. However, customer retention often leads to a higher return on investment (ROI). It costs businesses five times more to acquire a new customer than keep an existing one. When your organization develops methods to increase customer retention, you grow a loyal customer base that positively spreads the word about your company and yields a better bottom line.

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The CRO, Value, and the Future of Sales

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Today’s buyers are savvier than ever. To address their evolving sophistication and expectations, successful CROs are leaning into technology that aligns sales and buyer objectives to build long-term relationships. Customer Value Management (CVM)is the key to driving greater customer lifetime value. With an end-to-end CVM platform, your team has the power to unify value measurements, elevate sales conversations to what matters to decision-makers, and drive customer success by presenting value at every stage of the engagement.

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KPIs to Measure Customer Success

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Customer success is shifting from being measured in terms of analytics and metrics to customer value. The change is attributed to a more customer-centric market with new consumer demands and advancing technology. As a result, your key performance indicators (KPIs) to measure customer success must also adapt to continue to thrive in today’s business environment.

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The Impact of Digitalization on the Sales Function

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The impact of digitalization on the sales function feels like an earthquake. Just look at the number of available software solutions and apps available to enable the sales process. The overarching goals of all these solutions is to further commercial intelligence and boost sales outcome. So let us start with the definition of what commercial intelligence is. Wikipedia is my go-to source for that!

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