Posted on

Why Data-Driven Customer Success is Essential in Today’s COVID World

In today’s unprecedented economic downturn, it’s more difficult than ever to find and close new customers. The onus is now on maintaining existing customers as productive users of your product. By closely monitoring API metrics, Customer Success Management (CSM) teams can get an early warning on those that are at risk of churning, and rectify things before it’s too late.

Customer Acquisition Versus Customer Retention: At Least 5X Difference in Cost

According to different surveys, the average cost of acquiring a new customer is between 5X and 25X the cost of retaining an existing one. That was in the pre-COVID era. In today’s world, it’s probably more.

Posted on

How SMC Allows You to Perform Advanced Data Collaboration Without Exposing Your Data

Data collaboration is the process of combining datasets together to generate new value from data-driven insights. The datasets being combined can come from different organizations, or they can come from data silos internal to an organization.

A number of use cases are possible through data collaboration: fraud detection, advances in healthcare research, real-world data, cross-selling, churn analysis, etc. However, there are significant blockers in realizing the potential benefits of data collaboration. Some of these blockers are so severe that they can stymie potentially valuable collaborations. The blockers originate from a host of areas — fear of loss of IP (intellectual property), privacy regulations, data residency restrictions, and reputational risk (just to name a few).