🎉 VOZIQ Rebrands Itself to VOZIQ AI ! Explore what's new. →

FAQs

Frequently Asked Questions

VOZIQ’s AI/ML Solution for Customer Retention

Here are the answers to the most important questions about VOZIQ’s predictive customer retention solution. If you have additional questions, please feel free to get in touch with Brandon Savage at bsavage@voziq.com.

In an era of customer choice, recurring revenue businesses find it challenging to reduce attrition from an aging customer base. VOZIQ can assist in changing this attrition trajectory from increasing to decreasing within one year by implementing a systematic improvement plan backed by VOZIQ’s AI and its vast experience in running successful retention programs.

VOZIQ can work with any structured and unstructured customer data. While structured data will help in segmentation, unstructured data will improve the accuracy of predictions in multiples by infusing very early-stage risk signals from customer conversations.

We carefully select mission-critical data sources based on needs and goals assessment. Typical data sources we use include:

  1. Direct feedback and sentiment (email/SMS/phone surveys),
  2. Indirect feedback and sentiment (contact center/web/mobile interactions), and
  3. Inferred feedback from other time series and IoT data like usage/trouble histories.

Integrating this engagement and interaction data with billing, transactions, demographic, and cancel history allows us to develop the most accurate customer profiles. This enables machine learning models to assign not only an accurate churn score but also an NPS score, cancel reason, likely contract extension, likely intervention through either rate change or add-on equipment for 100% of customers for micro-segmentation, and targeted campaigns through contact center and marketing channels.

Data is almost always scattered and unprepared. We have expertise in dealing with such data and the necessary processes and technology fine-tuned on millions of customer records to make it ready for driving AI-powered retention campaigns.

Three pillars of any analytics program are -

  • Data
  • Intelligence
  • Actions

In our experience, it takes synergy of all these three areas to deliver a demonstrable impact on profits and revenue. The rule of thumb for improving retention effectiveness is to start backward from existing points of impact, such as care/technical/retention/service/marketing. This helps identify quick-hit opportunities and make these points aware of risk/value by augmenting them with predictive intelligence from multiple AI models.

VOZIQ works with your existing systems and complements your teams. There is little disruption.

VOZIQ typically starts delivering results (not just models) within the first quarter. By the first year, you should see a clear drop in attrition rates. The result compounds over a 3-year/5-year timeframe to deliver tens of millions of dollars in revenue from proactive customer saves, reduced service costs, and improved lifetime value.

We follow a step-by-step plan to ensure alignment and value:

  • Kickstart with a needs assessment to identify top use cases and prepare a business case.
  • Demonstrate initial ROI from 2-3 use cases before releasing further investment.

Expand AI use cases using proven results and execution capabilities from initial campaigns.

Learn more why VOZIQ is the right customer retention partner for you.

What’s more:

  • Backed by a team with proven security industry expertise
  • Quick time-to-value with our build-operate-transfer delivery model