Our final roundup this year covers two of our main topics: customer acquisition and customer engagement. We’ve not covered these topics in depth this year, and so decided to combine these two to provide a roundup of the best of both.
One of the most popular blogs in both categories is our Agent X video. If you’ve not yet seen it – spend the minute to get a better understanding of one of our great products! The remaining three most popular blogs are great blogs that give insights on how to improve acquisitions and retentions. We hope you not only gain valuable and actionable insights from these blogs but that they give you a better understanding of how our products have been created to serve your needs.
4 Best Customer and Marketing Analytics Blogs
Meet Vusi, a call centre agent, with call centre agent struggles. He needs to keep his customers engaged while he shifts between various systems to find the information he needs to meet his manager’s expectations of consistent, successful call outcomes. And he never really knows how he is performing against his targets…
With Principa’s Agent X call centre virtual assistant, those struggles are a thing of the past.
With direct marketing, you likely have a benchmark success rate from previous similar campaigns that you base your goals on, and you try to optimise it through various strategies, whether by trying to offer the best deals or by using behavioural tactics.
One of the most successful ways to optimise your direct marketing results is with machine learning. Implementing a machine learning approach in your direct marketing efforts is sure to result in improved conversion rates.
As the pressure of intensifying competition mounts every day, companies must look to boost customer loyalty, considering that it costs five times as much to onboard a customer than it is to retain one. And with consumer influence now stronger than ever, businesses that fail to respond to their customers’ needs will feel the impact on their sales figures. A recent study by Bain & Company revealed a 10% increase in customer retention levels results in a 30% increase in the value of a company, and a 5% increase in customer retention rates increases profits by between 25 and 95%.
Central to this is the pervasiveness of the social, mobile, analytics and cloud era that is redefining traditional retail models that place the consumer at centre stage.
It seems that the key to achieving a competitive edge in the modern age is to identify opportunities that enable the shift toward customer-focused and data-driven business models.
In this blog post, we look at some great examples of customer retention strategies in action and how you can apply these same strategies in your business every day.
The right customers are essential for every business. Marketing to and serving customers who are not profitable removes your focus from your best customers and ensuring they remain loyal to your company. Scorecards can help you identify and focus on your ideal customers by ranking your customers by the common criteria historically shown to be shared by your best customers.