Five actions to avoid losing customers or their profitability
Companies need to be laser-focused on their customers.
A leading consumer products company was losing more than $100 million in annual revenue due to customer churn, and the trend was getting worse.
The company undertook a cross-functional initiative to analyze drivers of customer churn and review leading practices. It quickly identified opportunities to save $10 million in revenue by reducing churn in the near term.
In addition, such initiatives often help companies boost profitable growth in the longer term by providing insights that help:
- Distinguish between profitable (or valuable) and unprofitable customers
- Create higher total perceived value for the customers
- Continuously innovate and sustain through customer focus and cross-functional collaboration
Our series, 5: insights for executives, explores the questions:
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| The answers in the issue are supplied by: |
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 | Catherine Zhou
Principal — Advisory Services
+1 408 947 5446 |
 | Woody Driggs
Partner — Advisory Services
+1 703 747 1389 |
 | Francis Exley
Principal — Advisory Services
+1 703 408 5544 |
|
Inside
Answers to your questions,
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Avoid losing customers
Tough economic conditions, increasing customer expectations and global competition mean that companies must create analytical insights into their customers’ profitability and lifetime value.
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