Category: Data & Insight

Reducing churn through cross-channel customer journey insights

dataThe cost of keeping an existing customer is in general around 10% of the cost of acquiring a new one. Reducing churn to increase client retention therefore is a major reason to optimise the customer journey. And to do so, you need a proper cross-channel view of your customer journeys.

The company in this case operates in a very competitive market, where retention is a key success factor. Therefore, they wanted to optimise the cross-channel customer journeys to make sure their customers get the experience and the service they are looking for. A special cross-channel team was in charge of establishing and maintaining this process.

Good morning Mrs Brown is it the usual today? Getting to know your customer through data.

Once your data capture, data quality, data management and data delivery is managed effectively then you can start to measure and assign value to your customers. By getting to know your customers you can start to proactively engage with them and create a dialogue. If you have a mutually beneficial relationship with your customer they become your client, your regular and your brand advocate.

CIO WaterCooler