Behavioral economics deals with how we, as humans, make decisions and behave in ways that are not strictly rational or expected. There are many concepts from behavioral economics that can and do apply to customer success. By understanding these concepts and principles, we can design our customer success processes to be more effective and make better decisions in difficult customer situations.
In this session, Dan Rourke, VP of Customer Success at Vyopta, explains how “surprise churn” happens – despite our attempts to follow all the best customer success principles and playbooks. Rourke lays out in detail how to apply behavioral economic theories to real-world customer success scenarios. From confirmation bias and default effects to choice architecture and customer effort, you’ll learn the “why” behind customer irrationality and how to counteract it.