Do you have a retention strategy in play?
Customer retention is key in growing and maintaining your business. Acquiring a new customer costs about 5x as much as it does to retain existing business. Additionally, consumers are twice as likely to try a new product or service when they already do business with the provider.
Why do so many companies spend so much on new customer acquisition and so little on client retention? Staying one step ahead of your clients is the best (and arguably only) way to anticipate their next move. Altair provides custom modeling and analytics to every client so that they can always anticipate the next move. Our Data Scientists are able to replicate your client base and predict behaviors. In Flight Alerts by Altair will enable your team to catch clients who have had their credit pulled with another provider before it's too late.
There are a variety of methods when it comes to monitoring and retention. Altair is able to design a custom plan based on your business model, using In Flight Alerts. Here's how it works:
Our Data Scientists monitor your current file as a part of the In Flight Alerts package, and notify you as to when you should be contacting stray clients. Our Data Science team will alert you within 24 hours of any of your customers having their credit pulled for a product that you currently offer, such as refinance. Your team will be in the right place, at the right time, all the time.
The ability to view your existing customers on an ongoing basis is a best practice that is often overlooked. Enabling this capability will help retain and grow your business. Employing a customer retention program, like In Flight Alerts, will provide a consistent ROI and help grow your top and bottom line.
Visit www.altairci.com to learn more about what we offer
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