|Past:||Providing a meaningful and easily digested view of the customer’s history. This includes product or policy activity, interaction history across all channels, recent product views, campaign activity, servicing history, preferences, transactions, influencing others, etc...|
|Present:||Presenting key customer information about who they are and how they relate to the organization. It should include the reason for the interaction, the channel they are using, and the customer’s value.|
|Future:||Initiating actions that can guide the future of the relationship by asking relevant questions related to the customer’s lifetime value, likely churn, possibility of utilizing up-sell/cross-sell opportunities / targeted messages, and the customer’s likely reaction to offers.|
Companies that succeed in today’s environment are those that become obsessed with understanding their customers. These companies go to great lengths to exceed customer expectations by leveraging customer information and insights. They are masters at gathering data, turning data into insights, and making decisions and changes in faster and faster feedback cycles. In other words, they find out what’s working and what isn’t and adjust appropriately at lighting speed.
Many companies have discovered patterns that customers exhibit before they cancel service, close an account or switch to a competitor’s product. Using customer data and analytics, these companies deploy and refine predictive models that help them retain customers with proactive approaches. Investments, in terms of offers and upgrades, can be made at the right time to increase the likelihood of retaining desirable customers.