Handpicked Resources for Customer Retention Leaders – June Edition

Customer Retention

Handpicked Resources for Customer Retention Leaders – June Edition

This edition of VOZIQ’s Customer Intelligence Newsletter consists of a handful of resources that contain ideas and actionable plans for dealing with the current pandemic crisis and preparing for the future while keeping your customers at the forefront.

We hope you will find this useful!

[Must Read] Five Customer Retention Steps to Boost Profitability – Forbes

Q1-2020 earnings are out, and it is clear that the COVID-19 lockdowns have put a lot of stress on most companies with additional operational costs, new sales are slowing down and commercial segment in freeze. In times of uncertainty, you would agree that protecting your existing revenue is critical to a strong rebound as the economy opens up.

This article discusses the financial impact of high customer attrition and proposes a 5-step strategy to boost profitability by retaining more customers in the covid-19 era.

How Next-Best-Action CX helps – before, during, & after a crisis – Customer Think

Covid19 transmogrified our world, rattling lives, markets, and businesses in just weeks. Customers’ journeys became anything but every day. Using a next-best-action approach, driven by AI, has proven to help companies elevate CX by delivering relevant and timely in-the-moment individualized recommendations during everyday buying and service journeys.

To know more about these action steps, read this article.

Take These Three Steps to Build Your CX Improvement Business Case – Forrester

Customer experience (CX) can be a critical differentiator and transformation catalyst. Still, its effects are not fully understood when those leading the CX charge can’t make a measurable and meaningful case for how CX impacts their company. Building a successful business case requires a strong foundation.

This article, based on the outcomes of a Forrester research, throws light on three areas where Customer experience (CX) pros focus on building strong business cases to attract investments for CX.

Elevating customer experience excellence in the next normal- Mckinsey

As companies prepare for the long haul—what we refer to as the “next normal”—the path forward is anything but clear. The situation continues to change by the week and can vary dramatically by region. Among the most vexing challenges is determining which customer behaviors and trends are here to stay and which ones will eventually recede.

Companies that make the right investments now could build a lasting advantage in serving customers. This article highlights three such priorities that are important to the success of the customer experience.

The Secret to Customer Value Realization is High-Quality Preparation – Customer Think

Is your product or service delivering the right value to your customers? How are you ensuring that the values are being delivered the right way? This article discusses a framework for Customer Success, which focuses on understanding the customer’s true outcome requirements during the initial phase of customer engagement and identify potential gaps in customer expectations. According to the author, the right preparation results in high-quality onboarding and adoption, which in turn leads to greater value realization.