Why can’t live streaming platforms retain customers?
Posted: Wed Dec 11, 2024 5:22 am
For the video streaming and live broadcasting industry, customer churn and retention rates have always been the main obstacles that relevant players must try to overcome. A recent study pointed out that the application abandonment rate among users within the first two weeks of use is as high as 67 % .
Audiences often lose because their viewing experience does not list of austria whatsapp phone numbers match their inner expectations. This gap in expectations may stem from a lack of technology, or it may be related to the content provided. In addition, factors such as subscription price increases, package changes, or the end of a must-see series or sports season can lead to customer churn.
From a practitioner's perspective, re-engaging dormant users is an important key to driving business growth. Research from the management consulting firm Bain & Company shows that as long as a 5% increase in customer retention rate can drive a company's revenue to increase by 25-95% . However, this does not mean that companies should target all lost customers and invest a lot of time and money to attract them back. Instead, companies only need to target high-value customers, and artificial intelligence can come in handy here.
Audiences often lose because their viewing experience does not list of austria whatsapp phone numbers match their inner expectations. This gap in expectations may stem from a lack of technology, or it may be related to the content provided. In addition, factors such as subscription price increases, package changes, or the end of a must-see series or sports season can lead to customer churn.
From a practitioner's perspective, re-engaging dormant users is an important key to driving business growth. Research from the management consulting firm Bain & Company shows that as long as a 5% increase in customer retention rate can drive a company's revenue to increase by 25-95% . However, this does not mean that companies should target all lost customers and invest a lot of time and money to attract them back. Instead, companies only need to target high-value customers, and artificial intelligence can come in handy here.