How AI Can Predict and Reduce Customer Churn
VOZIQ Team
In highly competitive industries, customer loss direct affects bottom-line growth. As we mentioned in a previous article, if you have one million customers with yearly revenue of $500 per customer, an annual churn rate of 20% can lead to $100 million in loss annually plus …
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 …
VOZIQ Customer Intelligence Roundup – April Edition
Every month, we put together the best resources from around the web to help recurring revenue businesses navigate customer retention and experience challenges, and stay on top of the latest trends. The April edition of our Customer Intelligence Roundup entails a retrospective as well as …
Empowering The Front Line To Minimize Customer Churn
Vasudeva Akula
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 they …
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 pre-COVID …
VOZIQ Customer Intelligence Roundup – March Edition
Every month, we put together the best resources from around the web to help recurring revenue businesses navigate customer retention and experience challenges, and stay on top of the latest trends. The March edition of our Customer Intelligence Roundup entails a retrospective as well as …
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 stay …
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 repercussions …
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. They …
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 …
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