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.
