understanding your customers' status
DESCRIPTION
Customer experience analysis measures “renewal drivers” while customer status is the current state of the customer’s relationship with a company in relation to the next renewal event. Loyal customers produce anticipated revenue that increases your company’s bottom line. Knowing your customer’s status will help you to retain loyal customers by identifying where your solution brings value and how your team is relevant to their success.TRANSCRIPT
Customer Experience
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Understanding Customer Status
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What does Customer Status measure?
• Customer Experience analysis measures “renewal drivers”
• Customer statuses are
the current state of the customer’s relationship with a company in relation to the next renewal event
Understanding Customer Status Customer Experience by Primary Intelligence
Customer Status Options
Defectors Former customers using a competitor’s solution
Abandoners Former customers who have not replaced your solution
At-Risk Renewals Customers who plan on evaluating competitive solutions for the next renewal, and indicated they are not likely to do business with you again
Competitive Renewals Customers who plan on evaluating competitive solutions for the next renewal, but indicated they are likely to do business with you again
Non-Competitive Customers Customers who do not plan on evaluating competitive solutions for the next renewal
Understanding Customer Status Customer Experience by Primary Intelligence
Customer Status Decision Tree
Understanding Customer Status Customer Experience by Primary Intelligence