The attrition rate, also known as churn rate, is an essential consideration for businesses and public figures. The multi-screen culture and increasing availability of information are changing today's attention economy and creating new challenges to capture attention and retain customers.
Marketing goes beyond multi-channel promotions. Market attrition and information consumption preferences are equally crucial in customer retention and acquisition. By consolidating data across channels, departments, and teams, businesses can see a unified view of the audience and better understand and respond to their audience needs.
As has been said, "Love and a cough cannot be concealed." The same applies to canned messages and chatbots. Businesses can use machine learning to inform creative messaging, understand the customer's intent in the moment, and focus on relevance and assistance. Authenticity is a customer-first approach.
Customer journeys across channels and devices are critical to strategy success. Built-in intelligence and machine learning can measure unified data and bring meaningful insight to the surface more quickly.
Multicultural marketing and generational marketing require organizations to understand their audience privacy concerns and invest in ways to protect and strengthen their relationships with customers. Ultimately, responsible marketing is more important than ever because the expectations for business are higher than ever.