Customer Intelligence – November Edition
With a fear of a recession looming over businesses like a vice, executives are gearing up to face it head-on. Customers are being exposed to irresistible offers making their expectations spike up, even more so for subscription businesses. So, how do we not just meet but exceed customer expectations like never before? Here are some predictions, tips, and suggestions to understand customers better.
According to Forrester’s July 2022 Consumer Energy Index and Retail Pulse Survey, the majority of online adults in the US (64%), the UK (59%), and France (55%) are anxious about the possibility of a recession. But worry not; The cash flow is about to increase. In this scenario, how do companies allure customers? The Forrester Prediction tells it all.
As compliance gives way to resilience, today’s fast-paced businesses leverage AI and advanced automation to deliver on their goals. But no change comes without risks. Tech leaders are rightfully cautious about a wrong move or a failed investment. So, what should they focus on? A read of Forrester’s classic AI horror story will explain it better.
A 2013 study by McKinsey found that data-driven organizations are 23 times more likely to outcompete in customer acquisition, have a more loyal customer base, and are 6.5 times more likely to retain customers. Take a new eye at the churn drivers, the risks and fears, and how to win them – a read from Forbes.
Customers have plenty of options to choose from and have a pretty shallow barrier to switching their service provider, so much so that about 30%-40% of customers continue to switch brands, according to McKinsey. Read how being swift will keep you successful in the retention game.
In the 2022 Content Preferences Survey by Demand Gen Report, 40% of the surveyed business buyers identified case studies as one of the most valuable contents they use when researching potential purchases. That was down from 72% in the 2016 edition of the survey. Read these four crucial steps on how to make case studies reputable again.
Let’s top it off with an invaluable and cautionary podcast from the renowned economist Nouriel Roubini on the factors driving the economic shift and how businesses can shield themselves against the recession.
This was our collection of the best blogs on customer intelligence for October. Click here and reach out to us to discuss all things churn for your business. Let us know your thoughts on some other pieces you found interesting.