About This Chapter
KPIs & Customer Management - Chapter Summary
If your organization needs to review key performance indicators in customer management, have your managerial employees work through this helpful online corporate training chapter. Through a series of short and engaging lessons, your company's supervisors will review KPIs related to customer retention, acquisition, lifetime value, loyalty and satisfaction.
The chapter comes with short quizzes that reinforce important concepts from each lesson. These resources are also available 24/7, which helps your supervisors review the material whenever they have free time.
How It Helps
- Builds awareness: Supervisors will cultivate a high-level awareness of customer retention, acquisition. satisfaction and lifetime value.
- Strengthens performance measurement skills: By applying the chapter's strategies, supervisors will be able to better interpret customer service metrics and measure the success of customer loyalty programs.
- Improves customer retention: The chapter shows supervisors how to measure customer satisfaction, which can then increase customer retention.
By the end of the chapter, your company's supervisors should be able to:
- Interpret examples of net promoter scores
- Explain the importance of customer retention
- Differentiate between customer acquisition and customer retention
- Calculate the lifetime value of a customer
- Track/analyze customer loyalty programs
- Describe how measuring customer satisfaction can improve customer retention
- Measure customer service quality metrics
1. Net Promoter Score: Definition & Examples
Net Promoter Score (NPS) is a mathematical equation that seeks to quantify customer loyalty and satisfaction. This lesson will walk through the basic definition of NPS and how it is calculated.
2. Customer Retention: Definition & Importance
In order to stay profitable, you want to keep your customers coming back. This means you need to retain their business. This lesson describes the important link between customer satisfaction and customer retention.
3. Customer Acquisition vs Customer Retention
Customer acquisition and customer retention are important to all companies. This lesson will describe the important differences between acquisition and retention.
4. Practical Application: Acquiring & Retaining Customers
These scenarios will help you analyze strategies for acquiring and retaining customers. After reading each scenario you will be asked to analyze the company's efforts and come up with ways to improve their strategies.
5. Customer Lifetime Value (CLV): Definition, Calculation & Uses
Customer lifetime value (CLV) is a marketing metric used to see how valuable repeat customers are to your business. In this lesson, we'll define CLV, learn how to calculate it, and discuss how it could influence your customer loyalty program.
6. Tracking Customer Loyalty Programs & Analyzing Results
Companies have created customer loyalty programs to try to increase returning customers and profits. This lesson will take a look at tracking loyalty programs and analyzing the results.
7. Measuring Customer Satisfaction to Improve Retention
Customer satisfaction is the key to a successful business. This lesson will discuss different customer satisfaction measurements that can improve retention and build relationships with customers.
8. Quality Metrics in Customer Service
Quality metrics are an important component of customer service metrics. This lesson defines quality metrics and provides several examples of how a company can evaluate the quality of their customer service programs or processes.
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