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The Challenge
Most businesses have a transactional relationship with their customers, characterized by infrequent and ineffective communication, resulting in lack of customer engagement which in turn results in the following challenges for the business:
- Not being close to the pulse of the customer, hence not being able to understand the likes and dislikes of the customer for the business’ product/service
- Lack of brand recognition and customer mindshare
- High and unpredictable customer attrition, impacting repeat business revenues significantly
- Lower customer life time value
Higher new customer acquisition costs due to missing out on word of mouth customer referrals