Interview: Becky Banasik, Customer Success Executive on Data Utilization to Mitigate Churn Risk and Other CS Risks

Becky Banasik is a customer success leader in startups and private equity who is responsible for consolidating and communicating customer experience data to leadership teams. In this interview, Diane Dye, CEO of People Risk Consulting speaks with Becky about how to identify leading indicators for the lagging indicator, churn risk. She also digs deep to explore how organizational cultures that encourage disclosure can enable employees to be the best stewards of this important data that can save companies millions in lost revenue.

Identifying Leading Indicators for Churn Risk

  • Identify leading indicators for churn risk
  • Prioritize actions to address churn risk alongside other stakeholders

    Data Tracking and Hypotheses
  • Lay groundwork by tracking data and forming hypotheses
  • Refine data analysis over time based on different client segments

    Client Success and Risk Mitigation
  • Focus on communication and value metrics in mitigating churn risk
  • Importance of understanding and scoring value metrics

    Communication Strategies for Risk Mitigation
  • Emphasize the importance of communication in risk mitigation
  • Teach employees to communicate effectively and address issues promptly

    Cross-Industry Application of CX Principles
  • CX principles can be applied across industries
  • Voice of the customer essential for understanding client needs

    Utilizing Data for Decision Making
  • Turn anecdotes into data to influence company decisions
  • Look for themes in data to understand customer behavior

    Collaboration and Data Integration
  • Pulling data from various sources for meaningful insights
  • Importance of integrating data for identifying opportunities and improvements

    Key Takeaway – Hypotheses Testing
  • Have multiple hypotheses and test them quickly
  • Act fast on findings to drive impactful decisions

People Risk Consulting (PRC) is a human capital risk management and change management consulting firm located in San Antonio, Texas. PRC helps leaders in service-focused industries mitigate people risk by conducting third-party people-centric risk analysis and employee needs assessments. PRC analyzes and uses this data alongside best practice to make strategic recommendations to address organizational problems related to change and employee risk. The firm walks alongside leaders to develop risk plans, change plans, and strategic plans to drive the human element of continuous improvement. PRC provides technical assistance, education, training, and trusted partner resources to aid with execution. PRC is a strategic partner of TriNet, Marsh McClennan Agency, Cloud Tech Gurus, Predictive Index, and Motivosity.

Interview: Jen Williams, SVP Customer Experience on Creating High Performing CX Teams

Jen Williams, SVP of Customer Experience, shared insights on maximizing customer experience by treating employees well and leveraging their strengths. Using tools like Clifton Strengths to understand individual strengths contributes to better team performance. Creating a common language around employee development through assessments such as Clifton Strengths fosters diverse high-performing teams.

Williams emphasized the impact of psychological safety on employee engagement, urging leaders to address instructional needs effectively. Recognizing behavioral cues indicating disengagement is crucial for maintaining a positive work environment. Strong team engagement leads to improved customer experiences, with morale indicators reflecting underlying issues affecting performance.

Addressing feedback from frontline staff positively impacted customer satisfaction levels according to Williams. Traits essential for leaders in customer-centric roles include empathy, strategic problem-solving abilities, data-driven decision-making skills, and fostering team engagement. Promoting transparency within organizations is vital for cultivating environments where employees feel safe for enhanced customer interactions.

Learn more about how to Hire, Design, and Inspire your High Performing CX Team – Free Resource

People Risk Consulting (PRC) is a human capital risk management and change management consulting firm located in San Antonio, Texas. PRC helps leaders in service-focused industries mitigate people risk by conducting third-party people-centric risk analysis and employee needs assessments. PRC analyzes and uses this data alongside best practice to make strategic recommendations to address organizational problems related to change and employee risk. The firm walks alongside leaders to develop risk plans, change plans, and strategic plans to drive the human element of continuous improvement. PRC provides technical assistance, education, training, and trusted partner resources to aid with execution. PRC is a strategic partner of TriNet, Marsh McClennan Agency, Cloud Tech Gurus, Predictive Index, and Motivosity.