A subscriber’s customer experience is going to have an enormous impact on whether or not they are retained as a client and if they can be upsold. Capturing application usage is an essential means of doing this. If you’re a retail outlet, a business, or a service – reviews, returns, referrals, calls, and spending frequency can provide incredible data that can predict purchase behavior.
This is so essential to a business. While your customer behavior may not fall within the responsibility of your marketing team, it can absolutely derail it. While marketers may not be able to change the customer experience, they should absolutely be monitoring it and analyzing its impact on conversions, upsell value, retention and referrals.
Netflix and Big Data
Big data helps Netflix decide which programs will be of interest to you and Netflix’s recommendation system influences 80% of the content watched on the platform Recognizing the importance of this data, Netflix even offered a $1 million prize in 2009 to the group who came up with the best algorithm for predicting how customers would like a movie based on previous ratings.
Algorithms help Netflix save $1 billion a year in value from customer retention. This infographic from FrameYourTV details how. FrameYourTV has resources for custom and handmade TV frames and mirror televisions.
