The total relationship with our customers is a summary of every individual conversation during their lifecycle. By categorizing each step of the relationship lifecycle, the effectiveness of each conversation can be determined and the value of each customer relationship can be improved.
As the value of every customer relationship increases, the value of our entire customer base grows.
There are six conversation types that impact your financial Key Performance Indicators (KPIs):
Acquire
When our analysis uncovers a need for new customers to meet your stated goals, we develop conversations that resonate with those that are most likely to respond to your message.
New customers are the lifeblood of any company. The best acquisition programs help to identify needs and determine how the products you offer relate to those needs in order to establish a relationship between prospects and your company. The hardest part of any acquisition is getting to the right decision maker in order to have the most valuable conversation.
Results: Incept has developed several statistical models that allow appropriate identification of decision makers. We contact individual decision makers through their preferred channel, including phone, chat, email, and more to simplify the buying process and help to develop long-term customers for our clients by matching them to the right product.
Appreciate
Everyone likes to be informed and appreciated. These conversations are very simple. A short message of thank you, happy birthday or anniversary, and status updates keeps them engaged and thinking about you.
Welcome calls to customers at various points in their trial periods can increase customer utilization and decrease churn.
Results: While no two customers are the same, we have shown that targeted Welcome calls can increase engagement, proactively identify at-risk customers and ultimately increase revenue.
Support
Your customers want quick resolutions to their problems regardless of the channel they choose to contact you through.
A strong and knowledgeable customer service and technical support team can provide the information and solutions necessary to build rapport with your customer and ensure your product is functioning as intended while increasing customer satisfaction, reducing churn and increasing the lifetime value of the customer.
Results: While working with clients to be subject matter experts, Incept is able to support customers on multiple levels, from simple account questions to detailed technical assistance. This has been shown to increase customer satisfaction and a one call resolution by more than 15%.
Retain
We understand that your customer base is an essential part of your success. By knowing what motivates both, we deliver compelling conversations that inspire meaningful relationships.
Customer churn has a direct impact on customer lifetime value and the ability to grow a business. Well-designed customer retention programs can significantly reduce customer churn as well as identify critical service issues that may be creating customer dissatisfaction.
Results: Incept has worked with customers to determine their true needs or dissatisfaction and pair the appropriate offer to retain the customer. This does not create a temporary fix for the customer, but gives the customer a solution that builds greater lifetime value and adds significant value to our clients - a 5% increase in customer retention rate has the potential to yield profit increases from 25% to 95%.
Convert
By creating models based on an individual's transaction history, strategies are developed to help customers realize the additional value within your organization.
In some instances, a customer’s initial product choice may not be the ideal selection to meet their needs. In these instances, providing recommendations for additional products leads to increased revenue per transaction and more satisfied customers.
Results: Through the process of handling customer service and customer retention calls, we identify several opportunities to adjust our recommendations to more appropriately meet the customers’ needs and our clients’ goals. By replicating the online experience of recommended purchases feature, we maximize your marketing dollars, regardless of the channel.
Re-activate
The number-one reason a customer does not come back is because they are not asked. For those that would but don't, we compliment your customer retention approach by offering multiple opportunities.
New products are launched by e-commerce companies rapidly. Occasionally, product upgrades address previous issues significantly enough that customers who have purchased before are willing to purchase again.
In these instances, targeted sales campaigns focused on the customer’s previous shopping habits can provide an influx of new customers at a lower than average cost per acquisition.
Results: Although relatively small in total volume, well- timed re-activation campaigns can drive customer acquisition as new products are launched or specific sales targets need an extra boost to be reached.