In the wonderful world of customer service, companies like to focus on happy things. From service with a smile, to one-on-one conversations - it makes sense to focus on the satisfaction of active customers, doesn’t it? The answer is: yes and no. Yes, companies should keep active customers satisfied, but those customers should not be the only focus. There’s a whole pool of customers who deserve extra attention: the at-risk customers.
We all know that it costs companies more to acquire new customers than to hold onto existing ones. With that in mind, companies can’t afford to let go of their at-risk customers. These relationships must be salvaged.
The main challenge is that these customers don’t necessarily say that they are unhappy or want to leave, until they have already made up their mind. Changing a decision after it is already made is much harder than preventing it from happening. That’s why it’s going to take some detective work to pick up on clues before it reaches that critical stage.
This is where Interaction Analytics comes in.
Interaction Analytics goes beyond numbers; it also tracks words, voice - even silence and emotions. For example, when a customer mentions the name of a competitor in a phone call or on email, even if lightheartedly - this is a sign we need to track. If the same customer asks about early termination fees - it is clear that they are at-risk customers. By stretching across channels including chats and emails, Interaction Analytics serves as a goldmine of insights.
The data that stems from Interaction Analytics lays a solid foundation in terms of preventative measures that must be taken to retain each at-risk customer. The ROI of these measures include additional sales, customer satisfaction, and loyalty. When applied properly, Interaction Analytics helps companies resolve issues, prevent churn, and engage with each at-risk customer - turning them back into satisfied customers.
To learn more about why Interaction Analytics is critical to success, download our free Buyer’s Guide for Exceptional Customer Experience.