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The Daily Mindflash

The Mindflash Knowledge Sharing and Online Training Blog

5 Learning Styles Each Trainer Must Know

JEN SCOPO | 2 MIN READ

Building exciting training content starts by establishing your goal and working backward. While this is a good roadmap for creating materials that help your learners reach that goal, strong learning modules need to be broad enough so that you can successfully reach all the different types of learners that you're sure to have in each of your sessions.

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Powerful Factor in Building a Sustainable Software Business

Bob Casey | 7 MIN READ

Albert Einstein is credited with saying that "the most powerful force in the universe is compound interest." The most powerful force in software businesses is revenue retention. High revenue retention rates create extremely valuable businesses, given that in a business with 100% revenue retention, each new sale provides pure incremental growth. A company with a highly stable customer base and a strong sales engine offers reliable, predictable, and growing cash flows over time - the hallmark of a great business. However, not all subscription businesses are created equally. As SaaS Capital and others have found, there is significant variability in the rates of customer churn across SaaS businesses, and as a result, significant differences in business quality. 

Churn is the Enemy

The enemy of revenue retention is churn. For every dollar lost, another dollar of new sales must occur in order to maintain the same size of the business, much less to grow it. As a result, customer retention and its antithesis, churn, are the most important metrics in any subscription business.  While some level of churn is unavoidable, best in class subscription businesses have built repeatable processes and systems to help ensure customer success and renewal, thereby facilitating faster growth. These systems focus on customer enablement and success, and are built on effectively training, engaging, and enabling customers to get the most out of the product. 

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7 Ways to Say I’m Sorry When Dealing with Customers

Keisha Stoute | 4 MIN READ

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7 Business Communication Blunders to Avoid

Natia Seegars | 8 MIN READ

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Bad Customer Experience: 5 Tips from Professional Mediator

 Have you ever had a bad customer experience? Whether you were put on hold forever, dealt with an incompetent representative, or continued to experience poor service due to unresolved issues, these are all common blunders in the customer service industry. When the customer experience is less than your best, businesses lose big and it can be very costly. According to Lee Resources, 91% of unhappy customers will not willingly do business with you again. Let’s face it, mistakes happen all the time, it’s not what you say, but what you do to keep the customers happy.

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On-Demand Training Helps MLSs Improve Broker Satisfaction

With initiatives like upstream and AMP along with general consolidation of Multiple Listing Services (MLSs), it's clear that the real estate industry is rapidly changing to keep up with the pace of the market. Consumers and brokers alike have high expectations of MLSs. When asked, 57% of MLSs believe that consumers are driving change, according to The 2017 CMLS Best Practices Survey Report. Consumers crave information and they don't want to wait for it. Brokers need a way of getting early access to reliable property data so they can support their prospective buyers in their decision-making process. In addition, brokerage firms are challenging MLSs to provide innovative technologies to help enable their success, as noted in a recent article published in Realty Magazine.

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10 Inspiring Videos about Customer Service

Customers make the world go round. If you haven't figured it out by now then you're behind the eight ball. Businesses are being challenged to give customers what they want, when they want. And, if one company doesn't meet their needs, customers are passing the almighty dollar to another more worthy vendor.

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Engage and Retain Customers With Customer Training On-Demand

It’s no secret – every company wants to improve profitability, but keeping customers satisfied is a major part of the equation. And with the array of competitive options available to consumers, businesses are challenged to retain and engage customers. One delay on a support ticket reply can cause a customer to bail ship and try a competitor – and potentially result in a bad review. (By the way, Super Office does a great article on customer service tactics to beat the competition, if you're interested).

In the past, customer training had been a bit of a dark horse in the race to capture the customer’s coin, but now companies beginning to see that training may get them to the finish line faster.

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Customer Experience Statistics and Benefits of Training

The secret is out: 2018 has been declared the “Year of the Customer” -- and there is a list of surprising statistics about the customer experience to support this claim. Though people pleasing always has been a fundamental truth of business, it’s no longer acceptable to shout that tired, trite saying, “the customer is always right,” and expect it to translate into the kind of satisfactory experience that buffets the bottom line.

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How Creating a Learning Culture Drives Customer Loyalty and Profit

"The single biggest driver of business impact is the strength of an organization's learning culture,” said Josh Bersin of Bersin by Deloitte.

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