Customer Retention
Deliver the experience that drives sales and retention
When it comes to growing your business, customer retention is just as important as acquisition. Increasing retention by a small percentage can add millions to the bottom line. But to be effective, loyalty marketing and retention strategies need to do more than just "save" the customer. Companies need know when customers might defect and which customers are worth saving to make sure the retention strategy is effective and profitable.
Chordiant solutions give you the ability to increase your control the customer retention process in order to maximize save rates while minimizing retention cost. With a unified desktop, adaptive analytics and decisioning that considers the customer's current and historic behaviors, usage patterns, offer response and lifetime value, you can engage in personalized conversations that retain the customer at an optimal price. For telecommunications giant Orange UK, Chordiant's retention power has helped to drive an additional 4% retention of Orange¡¦s most valued customers each month.
Chordiant Key Capabilities for Customer Retention
- Reduce attrition with a better customer experience. Use analytics to better understand and react to the interests and propensities of your long-term, high-value customers in order to build more effective loyalty marketing strategies.
- Retain at the right cost. Create personalized business cases that consider such factors as customer lifetime value, company ROI, propensity to churn and offer acceptance to determine individual retention strategies, budgets, offers and actions for each consumer, consumer household, or B2B customer.
- Proactively retain customers. Leverage the combination of analytics and decisioning in real-time or batch to identify at-risk customers and proactively communicate offers tailored to those most likely to defect.
- Deliver a superior experience across all channels. Deploy a coordinated inbound/outbound customer retention strategy to make sure conversations are relevant, timely and cost-effective across every channel.
- Measure and adapt in real-time. Measure, simulate and optimize customer retention strategies at any time with interactive, functional tools that reduce the need for IT coding and assistance.
