In an environment where customers are encouraged to look for the best deal and switch suppliers, customer experience is an increasingly important part of maximising customer retention. This, alongside current economic uncertainties means that you need to know your customer now more than ever. How they want to interact with you, how their financial circumstances have changed since onboarding and how receptive they will be to upcoming product releases or marketing campaigns you have planned. PowerCurve Customer Management gives you the ability to turn analytic insights into a coordinated set of decisions.
Reduce the risk of bad debt - Identify and assist vulnerable customers before they enter collections.
Increase revenue - Discover opportunities within your existing customer base.
React to market changes - Create and edit your decision strategies in line with market conditions.
Reduce operational costs - Introducing automation means you can cut down on time consuming manual tasks.
Step 1 - Creates a unique profile for each of your customers, encompassing their entire relationship with you.
Step 2 - This dynamic profile can include scores and metrics for risk, profitability, propensity to pay and their lifetime value to your business
Step 3 - Incorporate new data sources that further enrich your view. This is key to accurately identifying your most valuable customers and considers the total historic and future value of a customer.
Step 4 - The single customer view is especially important where you want to deliver consistent decisions and communications throughout the customer lifecycle.
Pricing - Price at competitive levels to provide customers with the best deal whilst controlling risk.
Limit management - Make proactive and reactive limit changes based on a customer's changing circumstances. Automatically authorise extended credit limits for good customers, based not only on risk, but also projected lifetime value.
Cross-sell and up-sell - Identify opprtunities to meet a wider range of customer needs to improve targeting and coordination of outbound marketing campaigns.
Utilisation - Proactively contact customers who have accounts with potential untapped value to make the most of your services.
Customer retention - Reduce attrition by identfying customers at risk and offer incentives to retain them and show that you value their custom.
Debt control - Carry out regular customer reviews to detect early stages of vulnerability.
To find out how PowerCurve Customer Management can maximise your customer relationships, call us on 011 799 3400.
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