Retention Rate

Retention rate is hot topic amongst our customers and readers. Losing customers, especially in big numbers, is extremely unsettling and expensive. It becomes a destructive cycle; customers leave, more effort is expended getting new ones, so the company’s eyes are taken off the existing customers. Service quality declines as a result, and so even more customers leave.

We spend a lot of our time researching and discussing the very best ways to solicit feedback from customers to ensure that our client’s retention rates stay as high as possible. After all, if you don’t ask your customers how they are feeling, you’ll only ever hear from a tiny fraction of them. A fact that’s probably giving you a very false view of how you’re doing. In this section, you’ll find research, statistics, suggestions and tools to help you ensure your retention rate stays as high as possible.

whats new customer thermometer 2020 Q1
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What's New So Far in 2020? Customer Thermometer Updates and Features

Now, more than ever, our customers are relying on us to provide insight into how customers and staff are feeling from a distance. So, we decided to give the lockdown pizza and Netflix a swerve, and instead we've been working incredibly hard…
Back to work Covid surveys feedback templates
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Back to work COVID-19 surveys and feedback: 6 templates

As many countries start to ease their initial lockdowns in the face of the Coronavirus/Covid-19 pandemic, companies and employees face the thorny challenge of how to go back to work safely. The Financial Times wrote earlier this week that…
CMD covid pulse feedback survey case study
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How CMD is using pulse surveys to stay connected during the pandemic

CMD Ltd is a British manufacturer founded in 1984, who create solutions to meet the challenges of integrating power and technology with furniture for commercial environments. CMD employs over 200 people who work throughout the UK. Most…
the culture code book review
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The Culture Code: Book Review

It may seem like a strange time to be reading this book when things that traditionally make us think of company culture – a full beer fridge, mission statement nailed on a wall somewhere and colourful beanbags in games rooms – may no longer…
CX through the crisis to recovery
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Managing customer experience: from crisis to recovery

In a single week in March, everyone had to learn to survive in a completely new way. “Ten years of change in one week” was how the New York Times characterised the way the Coronavirus pandemic has swept through society. Wherever you find…
Black Swan book review in the light of COVID 19
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Black Swan: Book Review

In a matter of weeks, Covid-19 has gone from a distant piece of news, to a massive global shock. It's been called a true "Black Swan" event. The term Black Swan was coined by Nassim Nicholas Taleb in his 2007 bestseller: “Black Swan: The…
competing against luck book review customer thermometer
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Competing Against Luck: Book Review

I'm writing this book review from lockdown during the COVID-19 crisis. While so much is changing, it's important to remember that in every disaster there is both risk and opportunity. One thing that's definitely true right now is that customer…
100 practical ways to improve customer experience CX review book
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100 Practical Ways to Improve Customer Experience: Book Review

Usually Customer Experience business books come out of the experience of a single person, and often also a single company, which has had a reputation for generating good CX results. This month, we've been reading a book on Customer Experience…
Fanocracy Book Review
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Fanocracy: Turning Fans into Customers: Book Review

David Meerman Scott's New Rules of Marketing and PR is one of the books I often associate with the start up phase of Customer Thermometer. Meerman Scott's insights into content marketing and the concept of generating great content to bring…
Customer Thermometer The Ultimate Question Fred Reichheld
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The Ultimate Question 2.0: NPS Book Review

Fred Reichheld published The Ultimate Question in 2006, at a time when thought-leaders started investigating the impact of customer service on a company's success and profitability. Telephone complaints lines and long-form surveys had been the…
blue ocean shift book review
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Blue Ocean Shift: Book Review

When Blue Ocean Strategy by W Chan Kim and Renee Mauborgne came out in 2004 it was a seismic book. The thrust of Blue Ocean Strategy (BOS) is that companies must create and drive up elements of remarkable customer experience to be different…
Punk CX book review Adrian Swinscoe CT
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Punk CX: Book Review

Adrian Swinscoe writes on customer experience and customer service for publications like Forbes and the BBC. Punk CX is his second book covering the topic of CX. We've all read books where the author has hit upon a good business idea and…