Best of Customer Intelligence-July Edition

Customer Intelligence / Customer Retention

Best of Customer Intelligence-July Edition

Customer experience has been a deciding factor of growth for companies. In this month’s edition of customer intelligence, we shed light on informative reads from Forbes, Forrester, and Mckinsey on customer satisfaction, acquisition, omnichannel approach, and much more.
Let’s begin with the first blog from Forrester.

US CX Quality Falls for an Unprecedented Second Consecutive Year (Forrester)

The article discusses the findings of Forrester’s 2023 Customer Experience Index (CX Index™). The CX Index is a measure of the quality of customer experiences, and it found that CX quality among US brands declined for an unprecedented second year in a row. While this poses a risk for businesses, there are also some opportunities. The research found that customer emotion is a key driver of CX quality and that brands that can evoke positive emotions in their customers are more likely to succeed. Additionally, customer obsession is becoming more important to business leaders, and this could lead to improved CX quality in the future.

The Economic Potential of Generative AI: The Next Productivity Frontier (Mckinsey Digital)

Generative AI is a new and rapidly evolving field of artificial intelligence that has the potential to revolutionize many industries. The article shows how Generative AI could create new products and services for recurring revenue businesses, improve customer experiences, and automate tasks.
The article also points out the risks with the newly evolving technology but also points out the potential benefits of generative AI that outweigh the risks, and recurring revenue businesses that embrace this technology are likely to be ahead of the curve. Read more on the study that shows how generative AI can fuel growth.

Beyond belt-tightening: How Marketing can Drive Resiliency During Uncertain Times (Mckinsey&Company)

Marketing can help businesses weather storms and rebound stronger during uncertain times. The article points out that by investing in marketing, businesses can attract new customers, retain existing customers, build brand awareness and loyalty, and drive sales and revenue growth.
The article has many insights about how CEOs leading recurring revenue businesses should view marketing as an investment in the future of their business. By investing in marketing, they can build a stronger foundation for long-term growth and resilience.

Orchestrate Omnichannel Customer Retention Actions for Maximum Impact (Forbes)

The article discusses the importance of orchestrating omnichannel customer retention actions for maximum impact. By using a variety of channels to reach customers, businesses can create a more personalized and engaging experience that will help them retain customers and drive repeat business.
The article provides some tips for orchestrating omnichannel customer retention actions, including:

  • Use data to personalize your communications.
  • Make it easy for customers to contact you.
  • Track your results and make adjustments as needed.

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