Customer churn can feel like the company equivalent of being ghosted. Where did that customer go, did you even see them leave the party? It can be an incredibly frustrating part of the customer lifecycle, and at scale, it has a direct impact on growth. The good news is that through the use of AI, companies are better placed to understand their customers and anticipate when they are likely to leave, and why. Max Jackson from the ECI Commercial Team shares his top five top tips for using AI to keep customers from doing the digital Irish goodbye:
Predictive analytics: the crystal ball of churn
AI can now be used to spot a ghoster before they even start fading. By analysing patterns like a drop in usage, a spike in support tickets, or suspiciously quiet buying habits, machine learning models can be used to identify high risk customers and flag when they look like they are about to leave, allowing you to intervene before it is too late.
Personalised engagement: because no one likes generic
Used properly, AI doesn’t do “Dear Valued Customer.” Instead it can be used to segment users into micro-groups and serve up hyper-personalised content - think Netflix recommendations, but for your product. Companies that leverage this ability to segment and customise relevant content will find their marketing efforts driving much higher engagement.
AI chatbots: the customer whisperers
AI-powered chatbots are always on and always polite, and as users get more comfortable talking to a bot there is likely to be further growth in trust and, in turn, use of these tools. Chatbots are evolving beyond handling FAQs; they can engage inactive users, triage customer queries and suggest next steps, keeping the conversation (and the relationship) alive. The data and insights they capture around customer conversations can also be used to drive product and marketing decisions.
Sentiment analysis: what are customers really thinking
Natural language processing tools can now be used to scan emails, chats, reviews, and social posts to detect shifts in customer sentiment. Whether it’s subtle frustrations or full-blown disappointment, AI can identify emotional cues across multiple channels and over time, helping you pinpoint where attention is needed most.
Proactive retention: the digital equivalent of “don’t go!”
The best AI tools won’t just sense a customer is drifting, they can act or prompt a salesperson with the best next action. Whether it’s a timely discount, a helpful nudge, or a reminder on product features and roadmap, there are an increasing number of tools to help reel customers back in before they’re gone for good.
Insights
31/10/2025
Digital Irish goodbyes: How you can better understand if your customers are still at the party
At this year’s ECI Unlocked: Digital Growth Summit, we heard from Ken Hughes, one of the world’s leading authorities on consumer behaviour and customer experience. His keynote explored the fundamental shift reshaping how businesses connect with their customers: moving from a world where customers had to navigate to us, to one where everything now revolves around them.
Market leaders like Uber, Netflix, and Monzo exemplify this "blue dot thinking" where businesses focus on customer propositions framed around the customer experience, rather than solving for traditional problems through traditional channels.
1. The great generational shift
Today's marketplace serves seven distinct generations simultaneously, each with vastly different expectations, values, and ways of engaging with brands. From those who grew up with manual processes to Generation Beta, who are coming of age in an AI-powered world, businesses face the complex challenge of remaining relevant across this broad spectrum.
The Blockbuster versus Netflix evolution perfectly illustrates this generational divide. Blockbuster optimised around their existing infrastructure with physical stores, inventory management and late fees. Meanwhile, Netflix asked a different question: what if customers never had to leave home? First through mail delivery, then streaming as bandwidth improved, they tapped into a latent customer need that technology finally made possible to fulfil.
Uber demonstrates this same principle in transportation. Rather than improving the traditional taxi booking system, they eliminated the need to call dispatch, wait for uncertain arrival times, or handle cash transactions. Customers simply tap their phone and transport comes to them.
For Generation Beta this customer-centric expectation is the baseline. They expect to discover products through social platforms, purchase via one-click mobile interfaces, and receive instant, location-based delivery. Companies still designing around the old model of "come to our store or website" will struggle as this generation matures with unlimited choice and zero tolerance for friction.
2. Meeting expectations isn’t memorable
Reaching customers isn't enough. Businesses must consistently exceed expectations rather than simply meeting them. Ken Hughes shared a powerful example from Virgin Atlantic. When a family arrived to check-in for a flight to the US with their 5-year-old son carrying a goldfish, staff knew the fish couldn't travel. Instead of simply saying no, they told the boy they would put the fish in the "VIP Goldfish Hold" with other fish flying that day. Staff then contacted colleagues in the US, who bought an identical goldfish. When the family landed, the boy was reunited with his "fish". That creative problem-solving turned a potentially heartbreaking experience into a magical memory, creating lifelong brand advocates.
This principle extends across industries. At Tusker, a customer called about his first-ever electric car and casually mentioned expecting to find gloves in the glove box of his new car. Jerry from customer services had the autonomy to buy leather gloves for them, creating a moment of delight, and many of their colleagues sharing the story about Tusker's thoughtful service.
Examples like the above clearly show how in a world where products, processes, and pricing can all be copied, customer intimacy becomes the ultimate competitive advantage.
3. Reimagining business with the blue dot principle
The most successful disruptors typically come from outside established industries precisely because they start with the customer need rather than existing infrastructure. Monzo exemplifies this approach perfectly.
Monzo could reimagine banking from scratch because open banking regulations created new possibilities and they had no legacy branch network to protect or manage. Rather than digitising existing banking operations, they designed a mobile-first bank around genuine customer needs. Their real-time spending notifications help users understand where their money goes instantly. Automatic budgeting tools and salary sorting features give customers control over their finances. Round-up savings and spending categories turn financial management from a chore into something engaging.
Each feature addresses customer desires rather than serving operational convenience. The result? A bank that customers actively recommend rather than simply tolerate.
The question every business should ask is simple. If your customers had unlimited choice and no switching costs, would they still choose you?
Conclusion
For business leaders, this presents both a challenge and an opportunity. The challenge is reimagining established processes and systems to put the customer truly at the centre. What would you do if you were creating a new business and entering the market now? In an age of infinite choice and instant alternatives, the businesses that survive and thrive will be those that put their customers at the heart of the operation and make them genuinely feel something. Not just satisfied but genuinely connected to what the business represents and delivers.
If you would like to discuss this further, please get in touch via the form below.
Insights
29/10/2025
Read Time: 7 mins
Designing for the blue dot: What Uber, Netflix and Monzo teach us about customer-first thinking

We’re delighted to welcome Ben Kirrage to the ECI investment team, the second hire into the team in as many months, having welcomed Georgia Ling in September.
Ben joins as an Investment Manager from FNZ, a global wealth management platform, where he was Chief of Staff for the European business and a member of the Strategy and Corporate Development team. Prior to FNZ, Ben worked in the M&A advisory teams at Keefe, Bruyette & Woods and Raymond James, where he focused on transactions involving software, data, and services businesses across the financial services ecosystem.
Ben will focus on sourcing and executing investments into high-growth, resilient businesses across ECI’s core subsectors. He will also work closely with management teams across the ECI portfolio to support their strategic and operational development.
Investment Team
27/10/2025
Read Time: 1 Min
ECI welcomes Ben Kirrage to investment team
Georgia Ling recently attended the Economist Impact’s AI in Health Summit 2025, where policymakers, healthcare and MedTech providers, and investors convened to discuss how to unlock the potential of AI in healthcare. The real question to debate here is, what is going to tip the balance to drive AI adoption at scale in the health sector?
1. No time to waste on data build
“Good AI” depends on “good data.” Yet what constitutes “good” varies depending on the problem at hand. We all know that progress in healthcare is slower due to legacy systems, siloed and inconsistent data entry across trusts, the multi-modal nature of clinical information, and the sensitivities of patient privacy. This serves to highlight the scale of the opportunity and the appetite for solutions, but also the reality of the challenges at hand. The £1.9bn Frontline Digitalisation Programme and the £10bn NHS Digital Transformation budget for 2025–2029 are steps in the right direction, whereas cross-industry partnerships can help to accelerate standard-setting and data interoperability. HealthTech firms that can help solve the data problem first will be the most valuable.
Once these foundations are in place, it will open up new data streams (and revenue streams) through the rise of wearables and privacy-enhancing technologies – creating trust and enriching doctor-patient relationships, as well as health outcomes.
2. Expectations befall reality for AI adoption
Has the promise of AI been realised? At the Summit one hospital reported access to 120 AI tools yet active use of only 5, largely because most were poorly integrated into workflows or misaligned with clinicians’ needs. Adoption of AI tools hinges on expectations and taking people on the journey. What is the promise that is being made? Is it cutting down bureaucracy, improving insight, or more time for patient care? Involving clinicians early in product design helps surface the real pain points and accelerates adoption.
The same logic applies across the healthcare ecosystem. Payers, providers, and pharma companies are drawn to AI tools that streamline decision-making, reduce uncertainty, and improve pricing or commercial efficiency. When a solution directly accelerates speed to market, sharpens negotiation outcomes, or increases ROI, the incentive to adopt becomes self-evident. Every unused tool is a sunk cost - and a missed opportunity for better care and outcomes.
3. Balancing innovation with trust
Regulators know that they are playing catch-up to innovators in AI. They recognise the need to facilitate innovation and to encourage experimentation, but equally the need for guardrails in place as patient and clinician trust remains the bedrock for adoption. Thoughtful debate about what constitutes an “acceptable” risk profile in different settings is therefore central to the future of AI adoption. However, given the pace of change and development, will regulators realistically keep up with the cutting edge?
Conclusion
The Summit highlighted the enormous opportunity ahead if the promise of AI is unlocked. Better data foundations, a deep understanding of the pain points in healthcare and regulatory clarity will be critical enablers, but trust, collaboration, and a willingness to rethink entrenched processes are foundational to innovation, while ensuring patient safety and adoption.
For more information on how we are supporting companies in the healthcare sector, please contact us via the form below.
Insights
22/10/2025
AI in healthcare: What’s holding us back?
Remember when "just Google it" was the default response to any question? For Gen-Z that phrase is starting to feel as dated as looking something up in the Yellow Pages. The digital discovery landscape is splintering, with a significant generational shift.
Recent data from a session hosted by our portfolio company, Croud, at the ECI Unlocked Digital Growth Summit reveals that search is fragmenting. This is both in relation to channel, with 51% of Gen Z now choosing TikTok over Google as their search engine, but also with LLM aided search it means that two thirds of searches now result in no click whatsoever. This fragmentation is creating both challenges and opportunities for businesses that understand how to navigate this new landscape.
1. How is search fragmenting?
Traditional search engines still dominate by volume, so this isn’t a case of ignoring Google as a channel, but it’s important to be aware that discovery is changing:
- Within search itself: The rise of zero-click searches means users increasingly get their answers without leaving Google. 52% of users now use full-length queries when searching, fundamentally changing how people are looking for you online.
- In new environments: From social platforms like TikTok and Instagram to AI-powered tools like ChatGPT and Perplexity, discovery has become a multi-channel journey.
- Through new behaviours: Users, particularly Gen Z, are searching with different expectations. They want discovery over quick answers, visual-first experiences, and social proof rather than single "correct" results from traditional search engine. This can make it harder for businesses to predict or track exactly how and where their customers will find them online.
2. Why it matters for your business
For B2B software companies, click-through rates for key industry keywords have declined by around 30% since AI-generated summaries began appearing at the top of search results. Meaning that when potential customers can get their questions answered without clicking through to your website, traditional conversion funnels break down.

Yet this creates opportunities for forward-thinking companies. New discovery patterns mean new ways to get in front of your potential customers. Compliance software providers are finding prospects engaging on specialised forums, HR tech companies are seeing research happening through LinkedIn communities, and cybersecurity firms are watching buyers consulting AI tools for vendor comparisons. Most companies are researching how they are appearing on LLMs and creating action plans to ensure that is representative of their GTM strategy.
3. Search strategies for growth companies
The winners won't be those who optimise for one platform. They'll be companies that build intelligent, consistent, and relevant presence across multiple discovery channels. This requires three fundamental shifts:
- Get close to your audience: Understanding where your specific customers search has become more critical than general search optimisation. More than half of Gen Z use social media for brand information, compared to 45% who use search engines. Consumer behaviour tracking and social listening now provide more actionable insights than traditional keyword research.
- Track brand perceptions: With 47% of UK consumers using AI for personal research purchases, monitoring how AI systems represent your brand has become essential. Tools like Croud's BrandAI help by analysing how major language models describe your brand compared to competitors, performing thousands of reviews to identify your positioning in AI-driven responses and highlight key drivers of purchase intent in your category.
- Boost your brand visibility: Search engine optimisation remains important, but it's no longer sufficient. Digital PR, social media presence, and platform-specific content strategies now work together to create comprehensive discoverability.
4. Don’t ignore Google
While Google’s monopoly of the search market is challenged by this fragmentation, abandon it at your peril. Google still accounts for 9% of all web visits, and is still the dominant mode of search. Google won’t let itself be left behind either, the platform continues to evolve, integrating AI capabilities and adapting to changing user behaviours.

Source: Google Trends (Business Services category)
Graph shows how Google search volume for business services keywords has remained stable from 2022-2025, indicating consistent demand despite search fragmentation across platforms. Since this data was collected, Google has introduced AI Mode to the search experience, which is only likely to reduce click-through rates further.
Rather than replacement, we're witnessing expansion. The shift toward multi-platform search brings platforms like TikTok, Reddit, and Instagram that complement or even enhance traditional search engines.
"The search volume for business services has remained remarkably stable since 2022, which tells us that demand for information hasn't decreased," says Duncan Nichols, Director of Strategy & Planning at Croud. "Instead, it's been distributed across more touchpoints, creating additional opportunities for businesses willing to adapt their approach."
For more information on how we are supporting companies navigate the changing search landscape, please contact us via the form below.
Insights
15/10/2025
“Just Google It, Grandad” : Why the search revolution is creating opportunities for UK growth companies
We're delighted to announce the exit of CSL, the critical IoT connectivity experts, into a continuation fund, representing a return of 3.5x since we first invested in the company in 2020.
CSL has grown c. 20% organically every year of ECI’s investment, driven by expansion into new geographies and verticals. The business has seen significant growth beyond its building, security and telehealth heritage, moving into other verticals requiring critical connectivity, including the transport and logistics, commercial, retail and hospitality and utilities sectors. This includes winning major new projects, such as being selected by Vodafone as the UK National Lottery Partner.
Another driver of CSL’s growth is the extension of its product suite, including launching rSIM® in 2024, the world’s first truly resilient and intelligent SIM card that monitors connectivity and actively switches profile for maximum uptime. This is especially important for life-critical, business-critical and mission-critical applications across all verticals.
As part of ECI’s continuation fund, CSL will continue its expansion strategy, including further delivering on its M&A roadmap to enter new verticals, geographies, or acquire new technologies.
This is ECI’s first continuation vehicle and was led by existing ECI investors - Carlyle AlpInvest, HarbourVest Partners and Pantheon - demonstrating confidence in CSL continuing its strong growth trajectory.
Advisors:
Lead Financial Advisor: Evercore
Financial Advisor: IA Global Capital
Legal Advisor: Paul, Weiss, Rifkind, Wharton & Garrison LLP
Commercial Due Diligence: OC&C
Financial Due Diligence: PwC
Legal Due Diligence: Squire Patton Boggs LLP
Debt Advisory: Marlborough Partners
News
06/10/2025
Read Time: 3 MINUTES
ECI exits CSL, generating a 3.5x return
Congratulations to Rory Nath, who has been included as a 'Future 40 Midmarket Investment Leader' by Real Deals.
The Future 40 list, in association with Finatal, celebrates the exceptional dealmakers who have not only excelled in their roles but have also served as exemplary figures within their firms and the broader sector.
Real Deals highlighted Rory's exceptional leadership at ECI in the last 12 months, deploying over £230m in equity (including significant co-investment) in two of ECI 12's investments last year, Croud and TAG, Since joining ECI, Rory has been involved in eight platform investments and several successful exits, including CPOMS, KB Associates, and InvestisDigital.
Real Deals particularly noted Rory's thesis building and origination activity in digital marketing, which identified Croud's unique operating model and proprietary tech as key differentiators, critical in positioning ECI as the ideal partner. Based in ECI's Manchester office, Rory leads regional marketing and network building in the Northwest/Northeast, and was promoted to Partner in January 2025 in recognition of his impact.
Congratulations to all those included in the Future 40 list.

News
29/09/2025
Read Time: 1 Min
Rory Nath named as Real Deals’ Future 40 Rising Star
As AI usage becomes standardised across cyber providers, the real question is: what sets one cyber firm apart from another and how does that translate to value? Providers with the best future growth potential are constantly evolving their go-to-market strategies, defences, and vertical-specific solutions. Daniel Bailey looks at 5 key areas within the evolving value proposition in cybersecurity:
1. AI is the new baseline. So, what’s the differentiator?
AI is now standard in cyber - used by both attackers and defenders. Generative AI powers phishing and reconnaissance; defenders counter with machine learning to detect threats and automate containment, and both sides continually use learnings to optimise.
With AI now a baseline, the differentiator is all about service levels, expert oversight and integration with existing stacks or layering on top of service providers like Microsoft or Google. Leading SOCs stand out by delivering measurable outcomes, utilising MITRE ATT&CK-aligned detection engineering and proactive threat hunts to improve Mean Time to Detect (MTTD) and Mean Time to Respond (MTTR). They also combine AI and human oversight to identify and contain threats, delivering security confidence to customers.
2. Go-to-market strategy is the real innovation
Smaller cyber software providers can’t match big tech on R&D spend, so a focussed product strategy is important, as is an effective go-to-market strategy, which can become the real battleground. The most successful firms focus on integration, not replacement - working with existing tools to enhance resilience. There’s a growing demand for zero-trust service models that offer scalable and proactive defence, and for bespoke monitoring tailored to industry, company size and tech stack. Rather than selling a one-size-fits-all SOC, leading providers differentiate by how well they adapt to the customer’s environment.
3. Operational Technology: The next frontier?
Operational Technology (OT), like factory floors and smart infrastructure, is fast becoming the next frontier in cyber security. Unlike IT environments, OT systems often lag in cyber maturity, creating vulnerabilities as IoT adoption grows and connectivity between OT and IT increases. This opens the door for advanced persistent threat actors, such as Volt Typhoon, a group engaged in cyberespionage reportedly on behalf of the Chinese state.
Providers that specialise in OT security - using network segmentation, device authentication and privileged access controls - have a solid growth opportunity. This is especially critical in sectors like manufacturing, energy and healthcare, where infrastructure is both complex and often regulated.
4. Vertical-specific value and regulatory readiness
Different industries face different cyber threats - and sectors like healthcare and finance are especially exposed to sophisticated attacks from advanced persistent threat actors from the likes of Russia, China, Iran and North Korea. At the same time, regulations such as NIS2, DORA, and the upcoming UK AI Act are reshaping compliance expectations. Providers that offer sector-specific solutions and help clients navigate these frameworks are better positioned to grow. For many cyber firms, regulatory change isn’t just a challenge; it’s a growth lever. Those that make compliance a core part of their USP often see stronger valuations.
5. People remain the most significant point of vulnerability
Despite advances in automation, human behaviour remains the biggest vulnerability in cybersecurity. AI-driven deepfakes and spear phishing have made social engineering more convincing and harder to detect. That’s why cyber firms that can support customers to upskill users as well as overlay verification tools are so valuable.
Cyber firms that focus on that change, for example, through tailored, data-driven awareness programmes, build stickier customer relationships as they are delivering behavioural change. Measuring metrics like phish-prone rate and time-to-report, as well as integrating training with existing security tools, helps foster a positive security culture. We’ve seen this in action at ISMS, whose focus on both automation and human-centric defence has proven critical as high-profile attacks continue to exploit user error.
If you would like to discuss the unique opportunities we see in the cyber sector, please get in touch.
Insights
24/09/2025
Finding the value in the future of cyber
