Bubo.ai

"We've been using Bubo's solution to help align the pricing terms for the product and customer. The solution uses our transaction data to identify out-of-line prices and recommend appropriate actions. We are already seeing margin improvements, and the process has been done much faster than anything we could do ourselves."

IMPROVING CUSTOMER RETENTION

Customer loss is an issue for every business. On average, businesses lose about one in ten customers each year. Some of these are due to major issues like cessation of trade or withdrawal of credit. However, over 90% of customers leave because they do not feel engaged and valued.

The good news is that Karmak has partnered with Bubo.ai to bring you an AI-driven solution that gives you up to 12 weeks' visibility of when these customers are intending to leave; 3 times longer than simply tracking spend. Imagine how much faster you could grow with that ability to keep your customers.

To take action, you need to know:

1. WHO might leave
2. WHEN they might leave
3. WHAT products influence their decision
4. WHERE they are
5. WHY they might switch to a competitor.

Bubo.retain combines your transactional data without powerful AI models to identify customers at risk of leaving up to 12 weeks in advance, giving you time to intervene before the customer walks out the door forever.

By understanding and acting on these insights, our clients can reduce their customer loss rates by 50% and keep their customers engaged and loyal.

Customer retention plays a crucial role in ensuring the growth and profitability of your business. Retaining existing customers is not only more cost-effective than acquiring new ones but helps in building long-term relationships and brand loyalty.

According to Bain & Company, a 5% increase in customer retention can lead to a 25% increase in profit. Additionally, it is estimated that acquiring a new customer costs five times more than retaining an existing one (Forbes). A startling reminder of the benefits of customer retention.

The easy-to-use Bubo.retain platform gives you a detailed insight into your customer behavior. It also provides a clear view of each customer's growth trend and risk of churn, providing early alerts of any potential drifts that may impact your revenue.

Get in touch with us today to transform your customer retention rate. Remember, a 5% increase in customer retention rate can increase your profits by 25%.