Best of ECT News

Customer attrition and churn are not new problems. Anyone who has spent time in the sales world has heard statistics around the cost of acquiring a new customer. It can be five to 25 times more expensive to acquire a new customer than to retain an existing one. More importantly, improving your custo...

Although not every United States business will be affected, the new California Consumer Protection Act almost certainly will have implications for many businesses outside of California. Starting Jan. 1, 2020, qualifying businesses will be subject to data privacy and security standards currently requ...

Today's customer feedback world is extremely complex with data coming from a variety of sources. With the growing number of cross-functional teams and silos within an organization, leaders have been finding it increasingly difficult to capture the full 360-degree view of the customer to drive true c...

Until fairly recently, industry pundits had all but written off voice as a customer engagement channel. Considering there were more than 100 billion inbound calls via mobile devices alone in 2018, the past year has proven them wrong. There has been an incredible resurgence of voice as the new UI of ...

From big companies to small-town mom-and-pop shops to "mompreneurs" working from home, e-commerce is the key to keeping revenue streams flowing and businesses afloat. In fact, e-commerce is really the only way for you to ensure your business' longevity these days, especially if you are a small retai...

"Customer experience" is the great watchword of 2018 -- and it was a great watchword in 2017 and 2016, too. Eighty-five percent of executives said that CX was important to their companies' strategic priorities, in an Accenture survey. Sixty-two percent of companies viewed CX delivered by contact cen...

As markets mature, they trend toward oligopoly or even outright monopoly. There isn't much difference, because an oligopoly has several members instead of just one. Examples include electric power generation, an oligopoly made up of vertically integrated monopolies in most areas, and the airline ind...

Over the past 10 years, I've been a part of at least that many startups. The tools of the trade have changed rapidly, but the core elements of successful entrepreneurship remain relatively unchanged. When I first started out, "social media marketing" was a brand new concept and existed almost entire...

Given today's data and technological advancements, coupled with an abundance of choices for consumers, the importance of loyalty has never been greater. The marketing landscape has shifted as power has moved from sellers to buyers, and businesses have realized a heightened need for customer loyalty....

Among the myriad of tactics that e-commerce businesses can use to pump up sales, preorders might be the most overlooked strategy. Yet preorder sales are a highly effective way to generate early buzz to gin up demand for new products. A "preorder" is the sale of a product that is not immediately ava...

American companies spend an enormous amount of money on training. Spending reached more than $90 billion in 2017, an increase of over 32 percent from 2016. It's unlikely that even a small share of the billions spent on training last year were devoted to educating and motivating employees to regularl...

In technology parlance, the emotional result of a person's interaction with a website or digital app is called "user experience" or "UX" -- and the success of a business depends on it. Users who have easy, positive experiences with websites and apps likely will be drawn back to the business. On the ...

Sales talent for a long time has been broken up into three groups: A-players, B-players and C-players. Everyone loves the A-players -- they're the ones who bring home the bacon, after all. The B-players show promise and, with the right training and motivation, could become A-players. The C-players? ...

Telling an engaging and effective story is vitally important for the success of a business. A good story draws people in, fosters loyalty, and brings your brand alive. "It's important for brands to tell their story because the story is what actually resonates with humans," said Nathan Young, storyte...