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Customer reviews play a significant role in the decision-making process of customers. They are often used as a top source for making purchase decisions. In a connected world, a large percentage of customers use reviews as the key source to choose among brands. This is because reviews provide insights into the experiences of other customers, which can influence a potential customer's perception of a product or service. They can highlight the strengths and weaknesses of a product or service, helping customers to make informed decisions.
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87% of companies go through a growth stall and very few actually recover. A Bain and Company study shows that 94% of executives running companies with over $5 billion in revenue considered internal factors as key impediments to profitable growth. 86% of customers are willing to spend more for a better customer experience. 70% of customers use customer reviews as the top source to make purchase decisions. A survey of 3000 B2B companies showed that over 75% consider customer experience to be a major factor in choosing suppliers. Acquiring a new customer costs between 5 to 25 times more than retaining one. Further, loyal customers are 5 times more likely to purchase again, 5 times more likely to forgive and 7 times as likely to try new products. Customer Base Penetration can provide growth at a reduced cost while improving customer loyalty. In a connected world where 70% of customers use reviews as the key source to choose among brands, focusing on customer exper...
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How do you find the right strategy to grow your organization in a rapidly changing business environment? "Growth IQ" distills decades of tested strate...
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