Customer attrition and churn are not new problems. Anyone who has spent time in the sales world has heard statistics around the cost of acquiring a new customer. It can be five to 25 times more expensive to acquire a new customer than to retain an existing one. More importantly, improving your customer retention by just 5 percent can increase profits by 25-95 percent, depending on your industry and company size...
Some years ago, Marc Benioff told me he was not interested in developing back office apps that would compete with SAP and Oracle in the ERP and finance market. Many people, myself included, looked askance at that idea and wondered out loud how the company would continue to grow because, hey, there's...
Marketers at B2C companies realize that personalization is key to business, but they are having problems implementing personalization strategies, according to a recent survey by Adweek Intelligence in association with IBM Watson Advertising.
If you search for "why CRM fails" you get over three million results. Analysts report that close to half of all CRM projects fail and about 40 percent of CRM software purchased goes unused -- because sales teams don't want to use software that makes them glorified data entry clerks and still doesn't...
You can reduce the story of CRM to a lot of things, especially its many component parts. Social networking, cloud computing and analytics are mentioned often. We don't need an exhaustive list, but if we stop there we miss a lot
The enterprise IT environment is complex. Many systems, technologies and practices that were developed at various times coexist in the same world. With expectations for technological advancements at their peak, we're tasked with enabling these systems to work together harmoniously to support the con...
One topic that has a substantial impact on CX is the transformation of customer service operations using digital tools. Although it is often the engine room for driving transformation and change, it is met with limited success
Customer attrition and churn are not new problems. Anyone who has spent time in the sales world has heard statistics around the cost of acquiring a new customer. It can be five to 25 times more expensive to acquire a new customer than to retain an existing one. More importantly, improving your cus...
Does your customer relationship management strategy have what it takes to reach Generation Y? It's estimated that by 2021, an additional $394 billion in revenue could be gained from artificial intelligence adoption in CRM activities in the U.S. As companies grow and technology evolves at a faster-th...
E-commerce business leaders are already thinking ahead to the holiday season, and they want to answer one big question: What can we improve over the next 10 months to generate the most value during the holidays?
The concept of AI improving emotional intelligence might sound like a paradox. A coded algorithm is not the most natural supplement to human empathy, after all. However, customer experience leaders understand that AI-powered technologies can transform the way businesses understand core audiences. Cu...
To make purchases, shoppers need an Amazon account and the free Amazon Go app from the Apple App Store, Google Play, or Amazon Appstore. The app can be downloaded onto a recent-generation iPhone or Android phone. They use a QR code from the app to enter the store
We've been promised, repeatedly, that AI would revolutionize e-commerce. Has it lived up to expectations? If not, the problem may lie not in the technology you've deployed on your site, but in the architecture and data that support it. The effectiveness of AI-powered features ultimately depends on a...
Microsoft has unveiled several new artificial intelligence capabilities across Dynamics 365 applications and a new solution to help project-centric services organizations transform their operations. The AI enhancements include first- and third-party data connections in Dynamics 365 Customer Insights...
For most businesses, meeting target sales goals and key revenue metrics are top priorities. While executive teams understand that building positive relationships with customers is important, it isn't the easiest metric to quantify. For this reason, many companies end up ignoring the work it takes to...
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https://www.crmbuyer.com/story/how-to-leverage-gen-ai-without-losing-the-corporate-shirt-179123.html
How To Leverage Gen AI Without Losing the Corporate Shirt
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https://www.crmbuyer.com/story/the-future-of-gen-ai-in-retail-balancing-human-factors-with-revenue-growth-177923.html
The Future of Gen AI in Retail: Balancing Human Factors With Revenue Growth
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https://www.crmbuyer.com/story/is-generative-ai-the-next-big-cx-thing-despite-its-risks-177049.html
Is Generative AI the Next Big CX Thing Despite Its Risks?
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https://www.crmbuyer.com/story/beyond-the-cart-ux-hits-and-misses-can-make-or-break-a-virtual-storefront-177960.html
Beyond the Cart: UX Hits and Misses Can Make or Break a Virtual Storefront
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https://www.crmbuyer.com/story/spectrio-digital-signage-gives-ai-assist-to-in-store-marketing-177957.html
Spectrio Digital Signage Gives AI Assist to In-Store Marketing
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https://www.crmbuyer.com/story/5-ways-retailers-can-sell-more-online-with-a-personal-touch-177854.html
5 Ways Retailers Can Sell More Online With a Personal Touch
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https://www.crmbuyer.com/story/a-new-era-of-customer-service-177218.html
A New Era of Customer Service
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https://www.crmbuyer.com/story/omnichannel-online-consumers-shift-to-mindful-shopping-practices-177915.html
Omnichannel, Online Consumers Shift to Mindful Shopping Practices
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https://www.crmbuyer.com/story/landing-intelligent-customer-service-177182.html
Landing Intelligent Customer Service
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