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The best subscription companies can boast better than 90 percent retention rates and that’s a worthy goal for any business. Retention is the first goal for any company seeking to make an additional sale and derive additional value from a relationship. Our research into customer sentiment reveals that very often customer sentiment about a company, and thus retention, hinges on how well the business delivers on its promises. Also, on the flip side, Accenture’s Global Consumer Pulse Research shows that 64% of consumers changed to alternative vendors due to poor service in 2014. Nothing rankles customers more than inflexible systems that cannot support a customer moment of truth. New tools for self-service, chat, analytics, multi-channel or omni-channel delivery are valuable additions to the service arsenal. But as is often the case, a new solution involves both new technology and better approaches to using it. This Beagle Research executive white paper examines the pairing of new technologies with new customer-oriented approaches. |
