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A win-back bot, used in combination with other chatbots such as a quote bot, and loyalty bot, can help to retain customers who are nearing the end of their contract and are at risk of switching to a competitor and can even help to entice back customers who’ve already left.
We saw this in the last big recession spanning 2007-2009. Disgruntled customers, just like elephants, remembered how poorly they were treated and voiced their dissatisfaction by disregarding previous brandloyalty and swapping to a competitor. Stay true to your brandvalues.
Reputational risk is potential damage to an organization’s image caused by negative publicity, scandals, or crises that can impact revenue, brandvalue, and stakeholder loyalty. Example: Toyota’s response to a major recall in 2009 showcased a well-prepared crisis management plan.
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