Implementation of a robust churn management solution.
A leading UK based telecom company wanted to understand the churn of its customers and assess the key reasons leading to churn. The client also wanted to create the most viable potential offers which could improve customer retention.
Speak with our analytics experts today to know more about churn prediction and analysis and how it helps in understanding customer behavior and identify friction points, enabling organizations to prioritize key drivers of customer satisfaction and loyalty.
Increasing customer churn resulting in reduced market share and revenue.
The client was facing an issue with significantly increasing customer churn, as customers were moving away from its products to other competitor brands. This was causing an adverse effect on its market performance, and eroding market share and revenue.
Implemented churn prediction model for prediction of churn rates and development of customer retention strategies.
We developed hypotheses around churn rates and conducted data analysis to assess the reasons for churn. We developed a churn prediction model with high accuracy that updated risk scores for more accurate and timely retention actions. Our solution also helped the client develop retention offers and test their performance and expected results before implementation.
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More than 50% decrease in customer churn rate and a 15% increase in repeat customers.
Our solution helped the client gain insights on the reasons for increased churn. We also implemented an on-time risk flag mechanism which helped the client achieve more than a 50% decrease in customer churn rate and a 15% increase in repeat customers.