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Customer Retention: adopting an effective strategy for customer loyalty

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Among the main objectives of all companies we find customer loyalty, being able to obtain it can be complicated, especially since customer retention is not created simply by the purchase of the product or service, but is a process that develops over time by passing through all points of contact between customer and company.

 

Certainly an important element is the value given by the product and how this matches with the expectations of the purchaser, but subsequently the  main point of contact is the Contact Center , which can make the difference, thanks most of all to the possibility of  offering the customer the human touch that other channels cannot give it.

 

To reduce the churn rate and keep customer retention high, it is necessary to focus on the customer experience provided by the operator. A  Frost & Sullivan study  on WEM showed that 89% of companies that focus on training their Call Center operators significantly improve the quality of the customer experience and brand loyalty they offer.

 

 

You may be wondering: How do I determine which lead to give to my top operators?

 

If closing a sale is an art difficult to master, keeping a loyal customer relationship stable and profitable is often even more complicated. In both cases, an effective strategy begins with the careful selection of the target, which up until now has been defined with simple parameters such as age, sex and residence, but thanks to Artificial Intelligence it is possible to analyse the data available on each customer to calculate the purchase propensity or the probability of churn.

 

Knowing the probability of “abandonment” for customers, makes it possible  to effectively direct customer retention strategies, minimizing the company’s churn rate and avoiding losing revenue.

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