Best Practices for Boosting Subscription Revenue Growth and Improving Profitability
VOZIQ Team
As indicated above, the difference between leaders and laggards is a whopping 18.8X on customer profitability, 6.5X on customer retention, and 9X on customer loyalty. According to another McKinsey study organizations currently implementing data-driven approaches—ranging from predictive systems to AI-driven automation—are doing sporadically across their …
Beyond the Black Box: Revolutionizing Customer Retention with Explainable AI
In the ever-evolving landscape of subscription businesses, AI is reshaping the game. It’s predicting high-risk customers, automating customer service responses, and bringing efficiency to the forefront. However, many enterprise churn prediction solutions deploy black box AI, that’s good with crunching data and scoring customers but …
Books on Customer Growth That Are a Must Read
Customer-obsessed businesses have one focus, a happy customer, and we have some books that show how much-satisfied customers contribute to the company’s overall growth. Here’s our pick of the quarter; let’s begin with an insightful book that delved deep into customer research. FANOMICS®: Turn Customers …
Customer Revenue Leak: Here Are the Possible Drivers to Look for
Customer churn is due to several factors, such as poor customer service, ineffective marketing strategies, and stiff competition. High customer churn can result in significant revenue loss and impact the company’s reputation, among many other repercussions. While there is no lack of reasons why customer …
Top Revenue Growth Opportunities That Don’t Involve New Customer Acquisition
Vasudeva Akula
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 …
3 Steps to Drive Growth for Recurring Revenue Businesses
A McKinsey customer analytics adoption survey shows a staggering gap between high and low-performing companies based on multiple growth drivers. For example, companies that leverage customer analytics extensively retain over five times more customers than their competitors that evaluate their data sporadically. They are also …
Books on Customer Service That Are a Must Read
Customer relationship dynamics have been changing drastically over the past years. With customer expectations rising dramatically and businesses implementing a personal and far more attentive approach than before, CRM has now become a crucial element of customer retention. We have collected here a set of …
Three Reasons Why Retention is an Agility Sport
Today, an effective retention strategy has to be quick and agile in responding to the growing complexity of customer churn. It’s because customers have plenty of options to choose from and have a pretty shallow barrier to switching their service provider, so much so that …
5 Customer Experience Books You Must Read in 2022
Customer experience is the key to success in any business. The customer experience is the sum of all interactions a customer has with your company, product, or service. We have selected a few of our favorite books on customer experience, which we believe are worth …
Forrester 2018 Predictions: Insights that can Catalyze Actions in your Industry
With customers getting more educated and more demanding, the markets are transforming rapidly. Leaders must comprehend how the changing market and trends, affect their business and must quickly adapt to them for gaining a foothold in the market, otherwise they will perish. Forrester in its …
Resources
