In this interview with Wicket Labs CEO Marty Roberts, we discuss what audience lifetime value is and why it matters. We also look at the customer happiness index (CHI) and how it can help save customers getting ready to churn.
Chapter 1: About Wicket Labs (0:20)
Wicket Labs is building an audience insights platform. The company does three fundamental things:
- Aggregates data from all the different systems customers use
- Harmonize the data so that a consumer’s journey can be tracked throughout the service experience
- Presents a scorecard that tracks business performance and delivers actionable insights.
Chapter 2: Where the data comes from (1:30)
The company has already integrated with 18 different systems including:
- Marketing systems like Hub Spot
- Social sights like Google and Facebook
- Subscriber management and payment processors like Cling and Stripe
- Service trackers like Google Analytics or Adobe Analytics
- OVPs like Kaltura, Brightcove, and Comcast Technology solutions.
Wicket Labs can pull data from all these providers to reveal insights into the customer’s journey.
Chapter 3: Creating actionable data (2:40)
Every company should be tracking audience lifetime value (ALV), according to Mr. Roberts. Wicket Labs calculates it as average revenue divided by churn. Increasing average revenue and decreasing churn boost audience lifetime value. Assessing the impact on ALV of every action taken by the business is a great way to optimize revenue performance.
Chapter 4: Customer happiness index (CHI) (4:00)
The customer happiness index is essentially a risk assessment tool. The tool analyzes one- or two-years’ worth of data to train the model. The system looks for behaviors that indicate if someone is going to stay with service or leave. For example, it can recognize customers that are binge-and-churners, those watching as much as they can before they quit at the end of the month. Recognizing someone is in that category allows the service provider to reach out with a save action before they leave.