Insight Exchange by L.E.K. Consulting

As any subscription-based business knows, customer churn can be a major brake on growth. Not only can replacing customers be expensive and challenging — a common rule of thumb is that acquiring a new customer costs five times as much as keeping an existing one — but it can be even harder to cross-sell/upsell new customers. 

That’s why growth-minded businesses place extra emphasis on customer retention and existing account monetization. While many organizations have a good grasp on how they perform on retention or cross-selling/upselling, a key challenge is knowing when a customer is likely to take action so you can respond accordingly. 

Real-time, predictive analytics can be the answer to minimizing attrition, maximizing cross-selling/upselling and ultimately driving significantly improved revenue metrics. 

In this episode, we will discuss: 
  • How churn and cross-selling/upselling affect net revenue retention 
  • Foresight on customer behavior 
  • Building intervention events to change outcomes 
  • How to overcome data silos for greater insight 
  • Improving your customer retention and profitability 

To provide insights into these topics, Ben Sher, Engagement Manager at L.E.K. Consulting’s San Francisco office, talks with Dominic Perrett, Managing Director at L.E.K.’s San Francisco office, and Nick Barker, Director and Head of Data and Analytics for North America at L.E.K.’s Boston office.

Connect with our experts on LinkedIn:
Ben Sher: https://www.linkedin.com/in/benjaminsher/
Dominic Perrett: https://www.linkedin.com/in/dominic-perrett/
Nick Barker: https://www.linkedin.com/in/nick-a-barker/

Interested in learning more? Read our insight, Know Thy Subscriber: Putting Your Data to Work on Retention and Monetization.


Visit L.E.K. Consulting at https://www.lek.com/

What is Insight Exchange by L.E.K. Consulting?

Join us as we swap ideas with thinkers, innovators and doers from around the world and around L.E.K.

Presented by consulting powerhouse L.E.K. Consulting (www.lek.com), Insight Exchange™ is a new forum dedicated to the free and open exchange of the most interesting, important, and urgent ideas in the world of business. From the farthest-reaching environmental issues to innovations in retail, industrials, and healthcare, every installment of Insight Exchange™ invites luminaries to tell us what they’re working on, what they’re worried about, what they’re excited about, and what’s coming next.

Join us on an intrepid journey of discovery as we take nothing for granted, pull no punches, and follow the research no matter where it leads. In its 30+ year history, this is what L.E.K. has done better than anyone in the world. And that’s why Insight Exchange™ is the podcast only L.E.K. could have produced. If you’re a growth investor, an advanced student, an employee, a researcher, an executive, an entrepreneur, an inventor, or a board member, we invite you to join us for Insight Exchange™. If you’d just like to keep your finger on the pulse of what’s happening in business, retail, education, healthcare, industrials, energy, media, or life sciences, we invite you to join us for Insight Exchange™.