On February 10, Brandon Savage, Head of Solution Enablement at VOZIQ AI, attended Barnes & Buchanan Security Conference held at The Breakers in Palm Beach, Florida.

For more than 20 years, Barnes Buchanan Conference has been a major annual event focused on the home security and alarm industry in the United States. It brings together business leaders from across the country and offers sessions on trends, opportunities, and challenges shaping the industry. The conference is attended by major investors and senior-level executives in the home security and PERS industries.

Brandon spoke about the most critical customer retention challenges in the home security industry today and how VOZIQ AI addresses them to help customers achieve retention and CLV breakthroughs.

Below are the highlights from Brandon’s presentation:

Why retention efforts aren’t delivering value
Over the years, our team has met with over a hundred customer-centric executives in various industries, such as home security, pest control, telecommunications, power and utilities, and home warranty and insurance. While retention continues to be their top priority, the efforts are limited due to siloed functions and data and a lack of scalability in actions.

Availability of data but lack of intelligence
Unable to leverage their customer data, companies don’t get specific and actionable insights into at-risk and high-value customers. Even if some of them successfully identify churn drivers and predict churn rate, they’re unable to determine which customers are churning.

Due to this, they often end up responding too late, targeting the wrong set of customers, and thus spending a significant sum in creating retention offers for customers who aren’t at an actual churn risk. These actions not only lead to poor offer ROI but also inadvertently trigger attrition through unnecessary contact.

VOZIQ AI’s holistic customer retention approach
Churn is not based on a single, isolated experience; neither is there one specific factor responsible for it. While building our solution, we ensured that it could answer questions like:

• Which customers are happy and which aren’t?
• Which customers are at cancelation risk?
• What are the churn drivers at the customer level?
• What can be done to retain at-risk customers?
• Which canceled customer can be won back?
• How can the solution be operationalized at scale?

We help you address these questions using AI and machine learning.

What sets VOZIQ AI apart?

Using a military analogy, Brandon stated that to address a complex and urgent problem like customer churn, you can’t take an aircraft carrier approach. Like a destroyer, you need a solution that is fast, agile, focused, and precise. That’s exactly what VOZIQ AI is.

What sets VOZIQ AI apart from any other solution in the market is its singular focus on ONE goal – improving customer retention.

• People: Our team of experts holds deep experience in understanding and modeling churn predictors across multiple industries using various data sources.
• Platform: VOZIQ AI’s cloud-based AI platform, pre-built for retention needs, can be customized to your unique data sources, requirements, and user interface to ensure desired results.
• Framework: Besides the software, you get all the necessary skills and support for the entire partnership duration and can operationalize the solution within the first 100 days.

Putting internal teams to best use
While your internal teams may have the capability to develop intelligence from available data, it can take a significant amount of time and attempts to create a solution, rendering your retention efforts slow, risky, costly, and yet less effective. By partnering with VOZIQ AI, you eliminate risk and achieve desired results at known costs and better ROI while your internal teams continue to support and enhance your core competency.

You can access Brandon’s full presentation here.

Churn reduction has a fundamental impact on the bottom line and valuation of your company. Using AI and ML, VOZIQ AI produces intelligent predictions, answers critical questions, and works with your teams to operationalize large-scale retention actions at the customer level.

We’re delighted at the enthusiastic response at the conference. Several executives from the subscription-based businesses reached out to know how VOZIQ AI can address their unique retention use cases.