According to Gartner research, 80 percent of future profits will come from just 20 percent of existing customers. This essentially means that enterprises must focus on nurturing existing customers to reduce customer churn. In order to retain customers, enterprises must implement churn reduction initiatives.
Gainsight understands the role played by existing customers towards business growth and success. It focuses on implementing effective strategies to prevent customers from buying from their competitors. Below are the churn reduction initiatives implemented by Gainsight:
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Analyzes cross channel unstructured interaction data to determine the root cause of customer dissatisfaction
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Implements retention campaigns that persuade customers to stay
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Builds and fosters effective relationships with customers
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Provides offers that have value for customers
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Focuses on implementing more personalized retention programs
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Deploys tools, processes, and policies that help cater to customer needs effectively
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Adopts a metrics driven approach to accurately gauge effectiveness and performance
Gainsight knows that customer churn can put a strain on profits. It believes in adopting a proactive approach for churn reduction rather than reacting when customers decide to leave. Hence, it offers a customer success platform to manage retention, reduce churn, and identify opportunities.
