Seven Ways Businesses Can Harness the Speed of Technology to Reduce Customer Churn

The pace of business is faster than ever before, and many organizations are struggling to keep up. Our survey of 1,600 global sales and marketing professionals found that customer turnover is nearly one-third worldwide, and in the US, businesses are losing nearly one out of every two customers they gain. It is essential to take corrective action to prevent churn and understand the potential for churn to reverse the "Great Customer Resignation."

Every customer interaction is a decisive moment to identify any gaps between expectations and the actual experience. Our study found that more than half of Sales leads generated by Marketing are deemed either poorly qualified or underqualified. It is important to have a unified view of Sales, Marketing, and Service, as well as make CRM more accessible, score account opportunities, and share customer preference insights.

Advanced CRM platforms can serve up AI-driven insights to take action earlier. Deploying AI takes advantage of CRM data by transforming it into useful information to improve decision-making and predict customer needs. Organizations must harness the speed of technology to drive high-definition customer experiences and reverse the Great Customer Resignation.