The Proactive Edge: Leveraging AI For Customer Retention Success
Vasudeva Akula
In today’s rapidly evolving business landscape, customer retention is the North Star metric that significantly impacts profitability and growth, particularly for subscription businesses. According to a recent Global Customer Loyalty report, twice as many customer-facing companies worldwide are prioritizing investment in customer retention over acquisition …
Five Proven Strategies For AI-Driven Success In 2024
In 2023, the synergy between customer-facing leaders and technology reached new heights. In particular, artificial intelligence (AI) played a vital role in helping them achieve customer retention and lifetime value breakthroughs. It redefined how their businesses connect, engage, and retain their valuable customer base I …
How Explainable AI Can Boost Customer Retention
Fighting churn isn’t about predicting it alone. It also involves understanding the hidden factors that lead to churn and how to drive customer loyalty. Although traditional churn prediction models may be accurate, they often leave businesses in the dark about the reasoning behind their predictions. …
A CXOs’ Guide To AI-Powered Strategies
In the dynamic landscape of modern subscription business, customer-centric leaders face the imperative of not only retaining customers but also driving sustainable growth. They’re often faced with questions such as: How do we unveil and address churn drivers to improve customer loyalty and lifetime value? …
Navigating Common Data Science Pitfalls Of Customer Retention
In today’s customer-centric market, addressing customer churn is no less than a battle. It requires in-depth data-led customer insights for proactive identification of churn risks, driving timely preventive measures to retain valuable customers. And in this battle, data science is an indispensable weapon. However, if …
A CLV-Improvement Playbook For Recurring Revenue Businesses
Recurring revenue models have become increasingly popular. Whether it’s software as a service (SaaS) companies or subscription-based businesses, the ability to retain customers and maximize customer lifetime value (CLV) is paramount to long-term success. In this article, I will provide a comprehensive playbook for improving …
Orchestrate Omnichannel Customer Retention Actions For Maximum Impact
An omnichannel retention approach amplifies the reach of personalized retention offers by enabling every channel to present consistent offers to a particular customer irrespective of the channel. This significantly improves the profitability of the retention effort with surgical targeting. It helps deliver a holistic customer …
How To Use NPS As A Strategic Lever To Improve CLV
The net promoter score (NPS) is a widely used customer satisfaction metric that helps companies measure customer loyalty and predict business growth. A high NPS can also help you increase your customer lifetime value (CLV). In a manner, CLV has a strong correlation with the …
Top Revenue Growth Opportunities That Don’t Involve New Customer Acquisition
Sales or new customer acquisition is the most fundamental and obvious contributor to revenue growth. When we set a higher revenue target for a new financial year, we establish new benchmarks for sales efforts that highlight how many new customers we should aim to acquire …
Five Strategic Enablers Of AI-Driven Retention Transformation
As the complexity of customer churn grows, retention approaches are also evolving to tackle the churn risk and protect customer revenue—and AI can play an instrumental role in that. For many leading recurring revenue businesses, AI is transforming retention by leveraging customer data, advanced analytics …
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