With StepFunction, we are able to easily detect customers with a higher propensity to cancel. StepFunction has added support for customer cross-sell thereby adding even more value.
Rohit Kumar, Sr Director Growth
Autodesk, a worldwide leader in creative design software, engaged Step Function to improve their Customer Success results for a segment of their extensive user base. The goal was to provide better targeting for customers at risk for renewal cancellations and also for those that would benefit from cross-sell offers.
AutoDesk and StepFunction jointly built a delivery methodology that could accept new customer behavior signals as they became available. This allowed for the prediction models to be activated within the first 10 weeks and to be continually improved as new signals were integrated into the Customer Intent Engine. This continual improvement meant that the best targeting results were ready in real-time and produced the best business results.
Enabled AutoDesk to approach their broad customer base through behavior segmentation rather than the ineffective geo, size segmentationsCustom reach outs enabled for digital and human channelsAutodesk also used StepFunction’s Intent insights to better design a product pricing and packaging strategy.
Impacted save rates immediately Coverage extended to all products
StepFunction’s predictive target hotlists have been a game changer for us. We have reduced costs while greatly improving save rates. We have even expanded the StepFunction deployment to now cover all six of our product lines.
Marina de la Torre, VP Customer Success
Mitel, a worldwide leader in cloud communications services, was actively looking to improve their customer retention. They had all of the usual customer insight tools in place, such as Gainsight, but churn rates remained too high. Marina de la Torre, Mitel’s VP of Customer Success, invited StepFunction for an 8-week Proof-of-Results (POR) trial.
StepFunction integrated with all of Mitel’s internal data systems and was live within weeks.. At the end of the POR, Mitel compared StepFunction predictions and recommendations against their internal systems and even confirmed intent with over 200 customers. StepFunction’s recommendations were substantially more accurate than anything Mitel had in place. The POR was a success, and Mitel began rolling out StepFunction’s services across all six product lines.
StepFunction was live within one month of POR completion
Enabled Mitel to increase their reach outs and improve “saves” within 90 days
Mitel extended StepFunction coverage to all their product lines (starting from 1)
Per customer real-time risk Measurably higher retention
StepFunction has helped us reduce our churn rate significantly by allowing us to target our retention efforts to the best bang-for-the-buck customers.
Manu Mukerji, VP of AI & Analytics
The great thing about the Stepfunction AI model is that it's always learning and improving with every new set of data we input into it.
Jason Graham, VP, Customer Success
StepFunction’s leading indicator signals for large customers have really helped our AEs take appropriate and proactive actions for their customers.
Vijai Gandikota, Director, Customer Retention
Improving customer retention was a major focus at 8x8, a leading provider of cloud communication services. Loss of existing customers required the sales team to not only find new customers to grow the business, but also find new customers to replace the churned ones, the proverbial “leaky bucket.” Existing company tools (and an AI consulting company) were unable to accurately predict churn, so 8x8 turned to StepFunction to predict customers at high risk of churn accurately and early enough for 8x8 to intervene and retain them—while also improving customer satisfaction.
8x8 has a great data team that has access to much of the data about its customers from all the different systems of record (CRM, Billing, USage etc). StepFunction integrated this data into its Growth AI platform and was able to assess and predict customer intent. The Proof of Concept project was so successful that 8x8 quickly expanded its engagement. StepFunction was generating bi-monthly Churn Prediction Scores alongside specific actionable recommendations on a per-customer basis within 45 days. No retraining of account executives was required, since StepFunction recommendations were delivered directly inside existing tools and workflows.
StepFunction delivered business ROI within 3 months
Enabled 8x8 to identify risk 3-4 months earlier than existing internal capability
StepFunction’s leading indicator signals for large and mid-market customers substantially improved retention and reduced churn rates.