CRM system for enhanced retention of customers

A non-transitory machine readable medium carrying one or more sequences of instructions for causing a customer relationship management (CRM) system to enable a business entity to enhance retention of customers of said business entity, wherein execution of said one or more sequences of instructions by one or more processors contained in said CRM system causes said CRM system to perform the actions of:

• maintaining a historical data corresponding to a customer, wherein said historical data includes information on prior interactions between said customer and said business entity;
• receiving, from said customer, a call and also data indicating a reason for said call, wherein said reason is indicated by said customer during said call and said call is a telephone call, wherein an agent can answer said call to serve said customer;
• identifying said historical data corresponding to said customer in response to receiving said call;
• computing a value representing an attrition risk of said customer based on said historical data and said data indicating reason for said call, wherein lower attrition risk indicates a correspondingly higher probability of retaining said customer and higher attrition risk indicates a correspondingly lower probability of retaining said customer;
• determining a plurality of offers based on said attrition risk, said determining comprises:
• comparing said value with a threshold value;
• if said value is greater than said threshold value, including a first set of offers directed to increasing the probability of retaining said customer in said plurality of offers;
• and
• otherwise, including a second set of offers directed to sell services desirable to said customer in said plurality of offers;
• communicating at least one of said plurality of incentives and said plurality of promotions to said customer during said call, wherein said communicating comprises:
• if said value is greater than said threshold value, displaying on a display unit said first set of offers during said call, wherein said agent can view and orally inform said customer of any of said first set of offers based on the displayed first set of offers;
• if said value is not greater than said threshold value, playing audio clips representing at least one of said second set of offers to said customer during said call,
• wherein said agent is not provided the option to play audio clips representing said first set of offers such that customers with higher attrition risk are communicated orally by the agent and customers with lower attrition risk are played audio clips,
• wherein said computing, determining, and said communicating are all performed during said telephone call.

A customer relationship management (CRM) system enabling a business entity to enhance retention of customers of said business entity, said CRM system comprising:

• a set of processors;
• a set of random access memories communicatively coupled to said set of processors;
• and
• a machine readable medium, communicatively coupled to said random access memories, said machine readable medium storing one or more sequences of instructions, wherein retrieval of said one or more sequences of instructions into said random access memories and execution of said one or more sequences of instructions by said set of processors causes said CRM system to perform the actions of:
• maintaining a historical data corresponding to a customer, wherein said historical data includes information on prior interactions between said customer and said business entity;
• receiving, from said customer, a call and also data indicating a reason for said call, wherein said reason is indicated by said customer during said call and said call is a telephone call, wherein an agent can answer said call to serve said customer;
• identifying said historical data corresponding to said customer in response to receiving said call;
• computing a value representing an attrition risk of said customer based on said historical data and said data indicating reason for said call, wherein lower attrition risk indicates a correspondingly higher probability of retaining said customer and higher attrition risk indicates a correspondingly lower probability of retaining said customer;
• determining a plurality of offers based on said attrition risk, said determining comprises:
• comparing said value with a threshold value;
• if said value is greater than said threshold value, including a first set of offers directed to increasing the probability of retaining said customer in said plurality of offers;
• and
• otherwise, including a second set of offers directed to sell services desirable to said customer in said plurality of offers;
• communicating at least one of said plurality of incentives and said plurality of promotions to said customer during said call, wherein said communicating comprises:
• if said value is greater than said threshold value, displaying on a display unit said first set of offers during said call, wherein said agent can view and orally inform said customer of any of said first set of offers based on the displayed first set of offers;
• if said value is not greater than said threshold value, playing audio clips representing at least one of said second set of offers to said customer during said call,
• wherein said agent is not provided the option to play audio clips representing said first set of offers such that customers with higher attrition risk are communicated orally by the agent and customers with lower attrition risk are played audio clips,
• wherein said computing, determining, and said communicating are all performed during said telephone call.