Response Rate is what percentage of customers respond to a survey. This will let you know if it is quality research that you are able to use or if the sample size is too small.Continue Reading
Retention Rate is the percentage of customers that come back and continue to shop with a brand. Ensuring customer retention rate is high is important because it is easier to upsell an existing customer than to acquire new customers.Continue Reading
Reviews are both positive and negative feedback about a brand or product that customers leave for others to see. Ensuring a company responds constructively to reviews is important to show they care about what customers think of their brand.Continue Reading
Root Cause Analysis is looking at the overall feedback from customers and figuring out what the reason is for the feedback and making changes if necessary.Continue Reading
A SAAS Company is a company that specializes in selling Software as a Service (SAAS). Some examples of successful SAAS companies are: Microsoft, Hubspot, Slack and Salesforce.Continue Reading
Sample Size is a term used in market research term. It’s used when a company surveys a percentage of their customer base. This data is then extrapolated to the entire customer base.Continue Reading
Service Level Agreement or SLA is a term used to describe your policy on how long until issues get resolved, customers get responded to or other time sensitive matters are dealt with. Having an SLA is important customers know you will respond to them in a timely manner and address the issues. It also helps...Continue Reading
SMART Goals is a method to set targets. SMART stands for Specific, Measurable, Achievable, Relevant, Timely. This helps to ensue that goals actually get achieved and move towards a wider goal in important ways.Continue Reading
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