Raviteja Sidda

6 Reasons Why Unstructured Data Is Key to an Effective Retention Program

According to Gartner, as much as 80% of business information is in unstructured form. This information includes customer data captured from contact center agent notes, surveys, emails, chats, and web forms. Traditional customer retention strategies only use structured data because it’s easier for their models...

Why Is Proactive Customer Retention Indispensable in 2022?

The abundance of information and availability of choices have enabled customers so much today. A lot has changed in terms of their expectations since the COVID-19 disrupted the normal way of doing business. Today in 2022, even as the world gradually returns to the...

Empowering The Front Line To Minimize Customer Churn

Contact center agents, field service professionals, technicians, services reps—these are a few of the many roles that constitute your front line. The front line is a crucial part of your enterprise since these employees are your first line of communication with your customers. How...

5 Reasons Why Traditional Retention Efforts Are Inadequate

Retention leaders in recurring revenue businesses are always at risk of losing their customers to competitors. This ever-looming churn risk is increasing, despite all efforts to prevent it, because of growing competition, changing customer expectations, and the inability of traditional customer retention models to...

The Economics of Customer Churn

Loss of paying customers is a significant drag on the bottom-line and profitability for any recurring revenue, subscription-based business where a predictable customer base and revenue flow is key to growth. But how much is the financial impact of customer cancellations? What are the...

Why And How You Should Celebrate Customer Retention The Same As Acquisition

Customer acquisition vs. customer retention — the comparison has existed for quite some time, especially with global enterprises realizing the impact of customer churn on the bottom line and long-term growth. But most companies, regardless of size and scale, focus more on new acquisitions....

5 Strategies for Driving Profitability by Minimizing Customer Churn

Considering the long-range impact of COVID-19, the role of retention leaders in recurring revenue or subscription-based businesses is becoming increasingly more important and challenging as customer expectations continue to evolve. Customers are more informed, competition is stronger, and service is really today’s only differentiator. Customer...

5 Customer Retention Books You Must Read in 2022

Reading provides so much more than just knowledge. Books inspire our minds, offer more and novel perspectives, and help us identify new opportunities with a shift in attitude. We are always on the lookout for thoughts and insights from masterminds on the customer experience...

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...

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