For any business that depends upon recurring revenue from in-contract customers, the customer retention rate is a strong predictor of long-term profitability. There is a reason for this. Today’s customers are increasingly more aware and have a very low barrier to switching their providers. With just one click of a button, they can cancel ongoing relationships and switch to a new provider with equal ease.

For recurring revenue businesses, this situation gets further complicated because of the very high costs of new customer acquisition. For example, in the home security and automation industry, while the recurring monthly revenue (RMR) lingers around $46, the cost of acquiring this same customer can rise to as high as $400. This essentially means that in the first year, there is hardly any profit from this customer. On top of that, if the customer cancels, that’s a double whammy because the company not only loses

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a man holding a sign: A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City


© Reuters/Brendan McDermid
A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company’s IPO in New York City


(Reuters) – Cloud communications platform provider Twilio Inc plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including Intuit, FOX and Levi’s, employing more than 550 people.

Cloud

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Google My Business is working on a new feature that will allow businesses to see recent customer calls triggered from search results.

Google is notifying business owners about this upcoming feature via the GMB. The notification can be seen below:

Google My Business to Log Recent Customer CallsCall history notification in Google My Business

Clicking on Try it out prompts a message saying “You’ll be notified when this feature is available.”

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Call history in Google My Business is clearly in the early stages of development. But there’s a help page already published where users can learn more about the feature before it launches.

Clicking on Learn more links to a help page that reads:

“You can use call history to keep track of phone calls from your customers on Google Search and Maps. Your calls are all in one place to help you respond to missed calls and stay engaged with your customers.

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Index Exchange is adding new positions to its C-suite, naming former Amazon executive Lori Goode as its CMO and former Criteo executive Jess Breslav as chief customer officer.

The supply-side platform is building out its leadership team as the industry faces a long road ahead, said CEO Andrew Casale, especially in adapting to the deprecation of third-party cookies and Apple’s IDFA, which make ad targeting much harder.

“We’ve got to pivot quite a few behaviors in the next, say, 15 months or less to be completely ready, but I think we’re going to get it done,” said Casale.

Breslav worked at Criteo, the publicly traded ad-tech company, for seven years, most recently serving as executive managing director, Americas.

“I am proud to join a team that has continued to show a strong and sustainable approach to driving growth, and I look forward to helping Index double down on that commitment,”

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  • Microsoft’s Dynamics 365 tools for customer service and financial planning, are becoming an increasingly important part of its business, particularly its customer data platform.
  • Microsoft’s customer data platform is meant to help companies collect customer information in one central place, so that they can use it to improve customer service. 
  • Dynamics 365 as a whole has the potential to become a much bigger and stronger competitor to Salesforce in the customer data space, Futurum Research analyst Dan Newman told Business Insider. 
  • Microsoft’s product is designed to connect to any data collection tool, whether Microsoft owns it or not, which gives customers more flexibility than Salesforce does, he said. 
  • Visit Business Insider’s homepage for more stories.

Microsoft’s Dynamics 365 tools for customer service and financial planning are becoming an increasingly important part of its business and seeing healthy growth, too: Last quarter the product’s revenue jumped 38% year-over-year.

The centerpiece of

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A man works at a computer with a headset.
  • A customer service firm used by the likes of Apple, Amazon, Airbnb, and more has a history of exploiting the remote gig workers it recruits, according to a new ProPublica report.
  • Arise Virtual Solutions, which serves as a contractor to staff customer support teams, has seen booming business during the pandemic as it allows large corporations to easily hire and fire the people it contracts.
  • The report paints yet another picture of how workers in the gig economy are left vulnerable to exploitation.
  • Visit Business Insider’s homepage for more stories.

A customer service firm hired by the likes of Airbnb, Amazon, Apple, and Disney has seen a burgeoning business during the pandemic. But the 25-year-old firm also has a history of worker exploitation, according to a new ProPublica report.

Arise Virtual Solutions acts as a

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Five-star Spanish hospitality leader set to standardise with Infor Hospitality

LONDON, Sept. 29, 2020 /PRNewswire/ — Infor today announced that the five-star, 108-room Hotel Alhambra Palace in Granada, Spain, has chosen to implement Infor Hospitality Cloud solutions throughout all operations, including front of house, housekeeping, restaurants and conference bookings. Deployed in the cloud, the deal includes Infor Hospitality Management Solution (HMS), Infor Sales and Catering, and Infor Table Management.

(PRNewsfoto/Infor)
(PRNewsfoto/Infor)

Following a thorough review of the market, Hotel Alhambra Palace chose Infor based on its global expertise with elite hospitality establishments and the comprehensive array of processes the software will support.

Infor software will replace an on-premises legacy system that can no longer support the plans for growth at Hotel Alhambra Palace. One of the earliest anticipated benefits of the new application will be faster access to more comprehensive information and operational data, as well as new contactless

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  • Before the coronavirus pandemic, business was thriving for Hollie DiGiorgio’s Anytime Fitness gym in Florida.
  • Shortly after she moved to a newer, larger facility, DiGiorgio was forced to close for two months due to the public health emergency.
  • Her doors are now open, but business remains far from usual, and DiGiorgio told Business Insider how she’s building it back up.
  • Visit Business Insider’s homepage for more stories.

2020 started strong for Hollie DiGiorgio and her Anytime Fitness gym in Tarpon Springs, Florida.

She had recently moved her business into a new location, doubling its size and boosting its membership by over 40%.

The industry was on track to reach $106 billion, and the Anytime Fitness brand was expanding quickly.

Then in March, everything changed almost overnight.

“It’s very hard to work so hard and then take 20 million steps back with something that’s completely out of your control,” DiGiorgio said.

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ResellerClub’s aim with online events was almost the same as that with in-person ones:

  • Connect with customers during the pandemic
  • Help them upskill, learn and reach out to the brand with their questions, feedback
  • And of course, facilitate mutual knowledge sharing

ResellerClub has conducted 5 self-organised events with many more to go. These include the 5-year run of the web pro summit ‘Ctrl+F5 Online!’ with expert speakers, workshops and even a magic show. ResellerClub also launched a new property called ‘This Month at ResellerClub’, which covers learning on web infrastructure topics, product and platform updates from ResellerClub.

ResellerClub will also be exhibiting at and meeting customers at ‘CloudTalk Online’, a b2b networking event billed as Eurasia’s Largest Virtual Cloud Technologies Meeting. ResellerClub will also be exhibiting at Cloudbazaar Online this December 11th & 12th.

“ResellerClub’s customers are more like a community that’s been on a journey with us for over

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  • Microsoft wants to help businesses keep up with all of the changes wrought by the pandemic, including shifts in customer demand and supply chain, while also helping them address client concerns via all communication methods.
  • The company announced new features for its supply chain management and customer service tools at its Ignite developers’ conference this week.
  • The new features are meant to drive the larger mission of the Dynamics 365 tools, which help organizations use data to make decisions, Alysa Taylor, corporate VP of Microsoft’s Business Applications told Business Insider. 
  • “Capabilities like online commerce, curbside delivery, supply chain automation, remote work all are the type of capabilities that organizations need to build that resiliency and make sure that they can adapt for the future,” Taylor said.
  • Visit Business Insider’s homepage for more stories.

Microsoft wants to help businesses digitize and adapt as the coronavirus pandemic continues to spur digital transformation

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