Customer Lifetime Value (CLV) Program

Unlocking the essential insights required to maximize the value of every customer service interaction

As customers continue to demand higher levels of customer service in order to secure their loyalty many brands are turning to automation as a means to stem the flow of eroding profits. However, overly ambitious cost saving initiatives to preserve the bottom line can often adversely impact top line revenue generating potential.

At Praxidia we understand the science of CLV optimization, with a dual focus on top line revenue generating activities, and bottom line cost saving; delivering an optimal model that will ensure every customer relationship delivers the desired profit.

Essential to this approach is the understanding and anticipation of customer behaviour, ensuring that your can act upon customer requirements or issues in a pro-active and value-added fashion.

The Praxidia CLV program begins with a detailed operational assessment, wherein all customer interaction scenarios and channels are analysed to identify their potential to drive value.

Interaction types can then be targeted for either human-to-human or machine-based handling (see Digital Transformation Program), with human interaction maintained for value generating scenarios.

Once the desired omni-channel operating model has been defined, specialist transformation consultants can design and implement the necessary predictive mechanisms to support agents as they look to support, retain, convert, up-sell or cross-sell to customers.

In order to support these activities, Praxidia’s predictive recruitment services can be deployed to identify the key resources who will demonstrate a high propensity to excel within this environment. Ongoing training and performance monitoring can then be implemented to ensure continuous measurement and optimization of operations.

As with all Praxidia transformation programs, customer centricity sits at the heart of any change, with every operating model shaped around the needs, preferences and feedback of the market (see VOC Program).

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