The Spring of B2B Marketplaces : Modelling the impact of B2B Marketplaces strategies
Following the presentation of the study : The Spring of B2B Marketplaces at the Marketplace Summit by Mirakl, we are pleased to make it available to...
Knowledge and understanding is key to successful customer retention. Digital channels combined with insight from analytics have empowered Webhelp to predict customer behaviours with ever-increasing accuracy, based on an understanding of all of the information that can be collated about them. Both the static information in customer accounts and the dynamic insights garnered from interactions are used to form a strong understanding of what each customer wants and needs, and accurately identify the reasons for account cancellation.
Once this information has been collected, we use it to determine Next Best Action retention strategies on the basis of each profile. When customers get in touch to cancel their contracts, our people can present them with tailored offers. This ability eliminates the need for aggressive tactics and even promotes an increase in financial gain. For one telecom client, we not only retained more customers – we also dramatically increased customer spend, generating £60 million in revenue over 12 months.
A fundamental element of customer retention at Webhelp is the ability to predict customer dissatisfaction before they even make contact. Using data analysis, it is possible to identify signals or triggers that could indicate a potential defection. From there, we can determine the Next Best Action; whether that is getting in touch proactively to make an offer that better fits the customer’s circumstances or lining up the perfect response for when they next get in contact.