But everyone involved in marketing will agree that despite changing behavioral patterns, it costs less to keep your old customer rather than acquire a new one.
As is shown in Bain & Company studies, increasing retention rates by as little as 5 percent could increase sales by over 25 percent.
With this information we face the question – if you try to keep customers` attention, what’s the best way to ensure they have a positive experience?
There are three actions you can take to engage customers and how Microsoft Dynamics 365 Customer Insights can help companies to ensure customer loyalty.
We will agree that most customers won`t stick around if they have even one bad experience. And that’s understandable.
Knowing information which customers are likely to churn you can make your marketing efforts more successful.
With solutions like Dynamics 365 Customer Insights, you can involve machine learning and AI-driven insights to predict customer behavior. You can learn from human interactions at-scale using predictive data.
You can either use pre-defined models, so you can train your models quickly and start learning about your customers now, rather than starting model development from scratch. Out-of-box models like the ones available in Dynamics 365 Customer Insights give you the benefit of speed.
Pre-built solutions don’t block you from customizing your models later. With Dynamics 365 Customer Insights you can customize the AI or bring your own with Azure Machine Learning. Train a customized model, schedule models to run on a regular basis, and integrate the output as an attribute of a customer record. You can also set your model to retrain itself regularly so that you are continuously improving your results.
Making room for improvement
Nowadays, customers have more channels and platforms to share their experiences than ever. They will tell everything about their high-quality products and services expectations, and whether your brand meet them.
With Sentiment Analysis to synthesize customer feedback with business aspects can help you better understand and respond to your customers’ needs and wants. You can track comments made online and input them as valuable insights.
Features of Sentiment Analysis are: