With increased pressure on cost control, it is essential for businesses to utilize their resources in the most optimal way and drive better business outcomes. To help accomplish this, businesses must understand customer value and opportunity value when evaluating the handling of an interaction.
Customer segmentation strategies allow businesses to focus on servicing, retaining, and developing high value customers. Low value/low opportunity customers are directed to lower-cost service options, including self and assisted service.
Companies typically do a pretty good job of providing exceptional service to their elite customers (the top 5-10% of their customer base). The problem is most companies treat the remaining 90% of their customers the same, as if they were all Mass Market customers applying an “Equal service for all” approach.
But this approach is costing you customers and revenue.
By focusing on the potential o... read more >