5-Point AI-Driven Growth Roadmap for Subscription Businesses: Webinar Recap
This webinar took place on 24 May, 2024 at 12PM ET.
Every month, our AI solution experts, Vasudeva Akula, Ph.D. , Brandon Savage , and Douglas Shapiro host live webinars with the sole purpose of empowering subscription businesses to tap the power of AI and initiate transformative changes that can result in tens of millions of dollars in customer lifetime value.
This month’s webinar - 5-Point AI-Driven Growth Roadmap for Subscription Businesses, is a codified process that we’ve successfully implemented for subscription leaders like Brinks Home, Aptive Environmental, and Frontpoint Security to help them achieve substantial revenue growth.
Missed the webinar? Watch the recording here .
In this recap, we’ll provide a concise overview of our proven AI-driven growth roadmap and its potential to unlock the next level of revenue growth for your business.
Getting Started:
AI's influence on the global economy is nothing short of revolutionary. PwC forecasts a staggering $15.7 trillion in added value by 2030.
This means an unparalleled opportunity for subscription businesses to scale operations, refine customer engagement, and significantly boost enterprise value. However, businesses often struggle to successfully deploy AI and turn raw customer data into real actions and targeted campaigns to drive growth.
Our 5-step AI-driven growth roadmap addresses these challenges, providing a codified path to successful AI implementation.
Mastering subscription success using AI - one step at a time!
While many businesses aim to jump straight to step three (Quick Launch), skipping the earlier steps can impede progress and hinder ROI. Therefore, it’s essential for businesses to thoroughly understand and navigate each step of this roadmap to successfully implement AI and drive substantial value.
1. Maturity Assessment
The first and foundational step of the roadmap is assessing your current analytics maturity. This assessment prevents your AI projects from remaining siloed. It allows you to analyze your business operations, understand your data landscape, and identify what’s working and what’s not. These insights will shape the future of your business once AI is deployed.
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2. Business Case
Successful subscription businesses are those where every thought leader understands the unit economics and lifetime value of every customer. Having a good business case before launching your AI project goes a long way in ensuring all your thought leaders are onboard with your AI project.
Watch this 2-minute video to understand how to create a business case with example.
3. Quick Launch
Subscription businesses often lack the in-house expertise to build predictive models or implement AI effectively. That’s why we created a codified 90-day implementation plan based on the business case, where we analyze your structured and unstructured data along with VOZIQ AI’s third-party data, fine-tune our AI models according to your business needs, and deploy our AI solution in your private cloud to drive customer-level insights in just 90 days.
4. Operationalize AI
This is the stage where businesses can test whether this roadmap is really driving value. If you choose to deploy this customer-level intelligence in your call center for example, your agents are empowered with insights like when and why the customer is going to cancel along with personalized offer recommendations. Through this, they can proactively retain at-risk customers and improve lifetime value.
5. Scale
As you see revenue gains at the call center, you can start deploying AI into additional field service channels and other CLV use cases (Price Increase, NPS, Lead Scoring, Upsells) to maximize revenue growth.
Let’s brainstorm quick wins for your business
If you’re interested in exploring AI-driven growth opportunities for your business, we are offering a 90-day AI-driven growth strategy workshop. In this program, our solution experts will work with you to analyze your current analytics maturity, build an ROI-driven business case, and provide an operational roadmap for revenue growth in just 90 days.