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Tidal announces its next ROI webinar – Transforming the contact center into a loyalty engine and a source of revenue

by tidal| June 27, 2022| 2 min read

 

Research shows that 72% of customers will pay more for a great service experience, and 76% will stick with a brand if they feel appreciated.

Depending on the category, new customer acquisition can cost 5x more than retaining existing customers. Companies that excel at customer experience can grow revenues by 4% to 8% above their market.

Yet, most brands focus more on acquiring new customers for growth. However, increasing competition and advertising costs require greater marketing investment while providing diminishing returns.

“If you are thinking ROI look no further; increasing customer retention rates by just 5% can increase profits by between 25% and 95%. Companies must start thinking more creatively about what yields the biggest return on investment – driving loyalty,” says Dennis Gorya, Founding Partner and CCO at Tidal.

“Customers are more likely to remember the bad over the good. Scientists and experts believe that this is due to our survival instinct. Humans and animals are hardwired to remember bad experiences more vividly and strive to avoid them in the future. This is why 91% of dissatisfied customers will not be willing to do business with you again, and 42% say they will not return to a brand after two bad customer experiences,” says Aziz Memon, Partner & CMO at Tidal Commerce.

Providing Customers Service using traditional customer services platforms requires significant investment and could be costing your customers, but it does not have to be a cost. Not only can customer service become a consistent source of revenue, but it can also impact the bottom line by driving costs down. New technology platforms help B2C brands transform their customer service to be human-centred.

Driving Growth from the Contact Center
Join Tidal, Gladly, and Shopify on June 28 at 1 pm (EST) for this webinar to learn why traditional customer service platforms are costing you customers and how to deliver customer service that drives loyalty, and maximizes lifetime value and turns customers into advocates.

About Tidal Commerce:

Tidal Commerce Inc. is an e-commerce engineering firm helping enterprise clients elevate customer experience, scale their e-commerce operations, and grow revenue. Tidal offers a full suite of services starting with customer experience research, data analytics, competitive intelligence, e-commerce strategy, e-commerce managed services, e-commerce migration services, and e-commerce consulting. Tidal commerce was founded in 2019 and is part of Umbrella Inc., a business outcomes company.

For further information: Aziz Memon. +1(416) 4576776. aziz@tidalcommerce.ca

Related Links: http://www.tidalcommerce.ca/news