With AI taking up a crucial role in retention, it is time we recognize the importance of its presence. This month’s edition of best of the Internet will feature a blog from the best in businesses, with insights into exploring generative AI value chains and strategies for making informed decisions.

Let’s start with an insightful blog from Mckinsey.

Exploring Opportunities in the Generative AI Value Chain

Generative AI like ChatGPT has amassed millions of users in a short period of time, describing how generative AI is the newest accomplishment of technology. With the advancement of technology, there are opportunities to explore; this read will open up that window. With value chains and its potential uses, it will be an insightful read.

Monthly Update on the State of the US Consumer: May 2023

This is another insightful read from McKinsey. Consumers’ views on the economy are diverging—and their behaviors are, too. Take a look at the latest into consumer purchase patterns and their keen interest in spending in some specific industries.

AI Can Help You Ask Better Questions — and Solve Bigger Problems

Most companies still view AI rather narrowly, as a tool that alleviates the costs and inefficiencies of repetitive human labor and organizations’ increasing capacity to produce, process, and analyze piles and piles of data. But when paired with “soft” inquiry-related skills, it can help people ask better questions and be more innovative. Read more in this article from Harvard Business Review.

6 Pitching Techniques to Use When Budgets Are Tight

In this article, the author outlines six steps to persuade a client or senior executive to spend money when budgets are tight: 1) Start with stakeholder analysis. 2) Get crystal clear about the benefits of your offering. 3) Connect with a sense of timeliness or urgency. 4) Look for social proof. 5) Anticipate their objections. 6) Provide a clear next step. Read more.

Customer Revenue Leak: Here Are the Possible Drivers to Look for

This article from CustomerThink sheds some light on possible churn reasons retention leaders may miss out on and how to get over those hurdles. It talks about failure to meet expectations, ineffective marketing strategies and more.

To conclude the collection, here are some more blogs and articles that will aid retention leaders to look closely at the optimization of the existing resources.
https://www.mckinsey.com/industries/electric-power-and-natural-gas/our-insights/how-energy-sourcing-can-help-industrials-manage-record-high-prices

https://hbr.org/2023/05/3-strategies-for-making-better-more-informed-decisions

This was the best of internet from May. Follow VOZIQ AI to keep up with the best articles on churn and suggestions for retention leaders in the subscription business.