White Paper Excerpt -

“The quest for a “Silver Bullet” in customer retention has taken many paths over the years. Inherently, marketers and executives have sought many different solutions to what is by definition an amorphous, dynamic and multifaceted problem — customer retention. Different methods in the past have included segmentation, one-to-one marketing and data warehouses/marts, to name a few. All of these approaches have brought valuable insight into the mind and heart of the customer, but each has fallen short of attaining vaunted “silver bullet” status. Each of the aforementioned approaches has value or a role to play in contributing to understanding the customer. However, these approaches fall short because they remain tethered to a static representation of the customer. Put another way, all of these approaches are helpful in a historic view of the customer, which is useful, but none of them capture the CURRENT customer profile. This missing component of contemporaneous information can be realized with the combination of advanced predictive models and speech analytics, providing a powerful solution to predicting and reducing customer churn.”

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