Raviteja Sidda
Five Tips For Creating A Successful AI-Driven Customer Winback Strategy
With rising competition and evolving customer expectations, companies realize the growing importance of customer retention. Customer churn is a grave concern for any recurring revenue business. It means lost future revenue and hampers a company’s bottom-line growth. Its impact further leads to lost referrals...
Why Is Customer Churn Persistently High Regardless of Companies’ Sustained Efforts?
Regardless of their relentless efforts, brands across industries suffer from churn problems in today’s competitive world. As shown in the image below, one of the major reasons why customers leave the company turns out to be poor customer service. What is wrong with customer service...
Five Steps To Achieving A Customer Lifetime Value (CLV) Breakthrough
Customer Lifetime Value (CLV) is a key metric for measuring long-term growth. It’s a direct indicator of how much value a customer is expected to create over the lifetime of their association with your business. A 2018 Criteo survey results indicated that 81% of...
Better Customer Experience through Location Data
Businesses worldwide are waking up to the potential of location intelligence and leveraging it to engage with their customers. It offers a much better understanding of a customer’s journey and their needs at every stage of the journey, providing more specific insights into the...
How CMOs Can Collaborate With Contact Center Leaders To Boost Customer Success
At first glance, chief marketing officers (CMOs) and contact center leaders may seem to have little in common. The CMO generally focuses on driving growth, brand engagement and customer retention efforts (which have become a higher priority as of late). The contact center leader,...
8-Point Action Plan for Pest Control CXOs to Minimize Customer Churn and Boost Profitability
The pest control industry is benefitting from a number of advantages. Climate change, middle class income increases and the growing awareness of the importance of hygiene, especially in light of the COVID-19 outbreak and other pandemics, mean the demand for pest control services is...
Counter Customer Revenue Risk by Infusing Customer Behavioral Intelligence into Retention Strategies
One of the predictions by Forrester is about the increase in revenue risk for firms, by up to 50%, due to the increasing number of customers who operate as free agents. How does a customer-minded retention leader avoid the impact of demanding, millennial-minded customers on...
Proven Strategies That Will Plug The Leaky Bucket Of Customer Revenue
Image Courtesy: VOZIQ Industries across verticals are losing customers at an alarming rate even today. In fact, the average churn rate among U.S. companies is more than 23%. At this rate, a company that has 1 million customers with a $500 ARPU would end up...
Why Your AI Project Is Failing To Deliver Value
While working with our clients, we have seen the transformational effect artificial intelligence (AI) has on customer experience, cost reduction and profitability. Considering the opportunities and advantages that AI delivers, it’s not surprising to witness its growing adoption globally. Results from Algorithmia’s third annual...
Why You Need Multiple Predictive Models To Retain Your Customers
Customer churn has been a growing problem across industries. Businesses are losing millions of dollars every year to cancellations, and it is affecting their balance sheets. In recent years, the advent of predictive analytics and its initial success in retaining customers has given hope to...
Three Ways AI Can Protect Revenue And Bring Costs Down During Challenging Times
The unprecedented disruption caused by the Covid-19 pandemic has significantly affected the way businesses across the world deliver products and services to their customers. As the economy gradually starts to open, the businesses that focus on understanding their customers and ensuring customer experience continuity...
Why Proactive Customer Retention Is Not Optional
Customer churn costs a lot to a business. It is not just the recurring revenue that a company loses with a customer leaving. Other costs that come along include lost upselling and referral opportunities, impact on goodwill, weak competitive positioning and reduction in business...
Customer Churn: You May Be Losing More than You Think
A loyal customer base is the biggest asset of a business, and hence retention is a key priority for the bottom-line. Today, it is more crucial and at the same time, challenging than ever. This is due to crisis-hit consumer optimism, changing customer requirements...
Customer Intelligence Predictions 2021
Image: Adobe Stock 2020 was a year of change for individuals and businesses. The pandemic and the business uncertainty required companies to look internally and recalibrate their priorities to focus on protecting their biggest asset – their customers. Most of the businesses are still reeling...
Top Five Customer Retention Steps To Boost Profitability
For any business that depends upon recurring revenue from in-contract customers, the customer retention rate is a strong predictor of long-term profitability. There is a reason for this. Today’s customers are increasingly more aware and have a very low barrier to switching their providers....
50 Reasons You Should Consider AI Solutions in 2020
image Credit: Adobe Stock image There are several ways that artificial intelligence (AI) can benefit your business. By implementing the right AI system, your business can ultimately save both valuable time and money. So, what are some ways that AI can transform your business? It…