blog The Path to Retain Customers

As we well know the reason  a lot of companies invest in big data is because this information is crucial in identifying customers’ needs. Furthermore, customer retention is the key to achieving greater profits for any company. Customer retention can be achieved by improving the interaction between the company and the customer. Generally customer service representatives and company websites are among the most popular forms of company and customer interaction. If companies are able to cater to the needs of the customers during this interaction then this results in greater customer retention.

What are the most effective channels of customer interaction?

A 2015 Global Data Driven Marketing Survey by Tetradata of 3000 marketing professionals suggests that important data collected include customer service, customer satisfaction and data usage and behavior data. The goal of managers is to understand customer preferences to address the needs of the customers. 53 percent of respondents believe companies “need to be more customer centric,” and big data analytics is among the top data marketing priorities of companies. The most popular channels of customer engagement in order of highest to lowest include: websites (63%), mobile apps (58%), call center (51%), social media (49%), in store (37 %) and catalog/ direct mail (37%). Furthermore this data supports the idea that an overwhelming amount of customer interaction with a brand is through a website or in conversation with a customer service representative. Consequently managers need to focus on improving efficiency in these interactions which will help increase customer retention.

How can a company improve customer interactions?

Often times customer service representatives are flooded with a variety of queries and particularly customer service representatives in larger companies are expected to be informed about a variety of topics. The biggest challenge for companies is to maintain a consistency in answers provided by customer service representatives while retaining customers. Although a customer service representative not knowing the answer to a customer query is unacceptable, giving a vague answer and not addressing the needs of a customer can equally jeopardize customer retention.

If the customer service representative has access to an electronic system which generates answers to all questions present in the manual then this will ensure a consistency of answers to clients. In the process not having to sift through, possibly, thousands of questions will make a customer service representative more efficient in their job and they will be able to cater to the needs of more customers in any given day. An increase in this will result in the possibility of retaining more customers and increasing business for companies. Ensuring that the needs of the customer are met efficiently during an interaction with the company will help a company retain customers effectively.

How can Fusemachines help companies retain customers?

Fusemachines can help companies improve their customer experience by making the customer service representatives more efficient through the customer service representative tool. The customer service representative tool drastically reduces your employees’ average call time and narrows the scope of content to the specific and accurate information that you want your employees to disclose. The employee is empowered to find answers or document excerpts off of a few keystrokes.

Some key features that differentiate Fusemachines’ from other tools available are:

customer service 3- Key Stroke Technology

customer service Predictive/ Responsive Technology

customer service Enterprise Search

customer service Intelligent Alerts

customer service  A.I Training for Customer Service Reps

Customers are key players in making or breaking a company and there is a lot invested in research and development to understand customers and by figuring out their needs. Big data and big data analytics is the revelation that keeps companies informed about their customers’ tastes and preferences. Once a company has access to their customers’ expectations then companies can cater to their customers accordingly. The goal of each company is to retain customers because greater customer retention results in a greater potential of profit for a company.

For more infomration on Fusemachines’ customer service representative tool you can visit our website at click here.

For more details on the 2015 Global Data Driven Marketing Survey by Tetradata click here

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