Customer Experience and Retention Flashcards
What is customer experience?
Customer experience refers to the overall perception and interaction a customer has with a brand or company throughout the entire customer journey.
True or False: Customer retention is more cost-effective than acquiring new customers.
True
Fill in the blank: The process of keeping existing customers engaged and satisfied is known as __________.
customer retention
What are the key components of customer experience?
Key components include customer service, product quality, brand reputation, and customer engagement.
Multiple Choice: Which of the following is NOT a factor affecting customer retention? A) Customer satisfaction B) Product price C) Employee turnover D) Market trends
D) Market trends
What is the Net Promoter Score (NPS)?
NPS is a metric used to measure customer loyalty and satisfaction by asking customers how likely they are to recommend a company to others.
True or False: A personalized customer experience can lead to higher customer retention rates.
True
What is the importance of feedback in customer experience management?
Feedback helps companies understand customer needs, improve services, and enhance overall experience.
Fill in the blank: A loyal customer is more likely to make __________ purchases.
repeat
Multiple Choice: What is a common reason customers leave a brand? A) High-quality products B) Poor customer service C) Competitive pricing D) Personalized marketing
B) Poor customer service
What is customer journey mapping?
Customer journey mapping is the process of visualizing the steps a customer takes when interacting with a company, from initial contact to post-purchase.
True or False: Customer experience only matters during the sales process.
False
What role does technology play in enhancing customer experience?
Technology helps streamline communication, automate processes, and provide personalized experiences.
Fill in the blank: A __________ is a strategy that focuses on creating a positive experience for the customer at every touchpoint.
customer-centric approach
Multiple Choice: Which of the following is a benefit of customer loyalty programs? A) Increased operational costs B) Higher customer retention C) Decreased customer satisfaction D) Reduced brand awareness
B) Higher customer retention
What is the significance of emotional connection in customer experience?
Emotional connection fosters loyalty, encourages repeat business, and enhances customer satisfaction.
True or False: All customers have the same expectations from a brand.
False
What does the term ‘churn rate’ refer to?
Churn rate refers to the percentage of customers who stop doing business with a company over a specific period.
Fill in the blank: Companies should aim to create a __________ experience to retain customers.
seamless
Multiple Choice: What is a common way to gather customer feedback? A) Social media B) Surveys C) Focus groups D) All of the above
D) All of the above
What is the difference between customer satisfaction and customer loyalty?
Customer satisfaction measures how well a product or service meets expectations, while customer loyalty indicates a customer’s commitment to repurchase.
True or False: Offering discounts is the only way to retain customers.
False
What is the role of customer service in customer retention?
Customer service addresses issues, provides solutions, and ensures a positive experience, which contributes to retention.
Fill in the blank: The __________ effect describes how satisfied customers are more likely to spread positive word-of-mouth.
halo
