What the Client Wanted
The fast food retailer wanted to accurately predict and prevent churn and build customer loyalty
Reduced churn rates by 10% and amplified the service offerings
Summary of the Fast Food Industry
Despite the weakening global economy and increasing awareness of health risks, the fast food industry has managed to flourish in recent years. The rise of globalization and urbanization has greatly impacted the lifestyle of the consumers as they are heavily reliant on fast food stores to grab quick and easy meal options. Moreover, to retain the authenticity of their product offerings and gain a stronghold in the market space, prominent businesses are also investing heavily in R&D.
The shift toward healthy options: Growing concerns about obesity are gaining traction across the world. With a goal to remain healthy, consumers are shifting their preferences toward healthier options. As a result, it is necessary for organizations in the food industry to re-invigorate their product offerings by including low-calorie products into their meals to keep pace with the changing preferences.
Intensifying competition: The availability of lucrative prospects in the fast food industry is attracting a considerable number of companies into the industry. Besides, the growing competition is also compelling organizations to invest heavily in research and development to differentiate themselves in the market.
About the Client
A leading fast food industry player with retail units spread across 15 countries. The fast-food retailer is based out of the United States.
The fast-food retailer was facing challenges profiling the customers that are vulnerable to churn and formulating retention strategies. As a result, the client wanted to tap into customer behavior and gain warning signs of churn. Additionally, with the help of Quantzig’s churn analytics solution, the food retail client wanted to seek ways to effectively predict churn and devise more targeted and personalized offers to achieve a sizeable reduction in churn.
Benefits of our churn analytics solution
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With the help of Quantzig’s churn analytics solution, the food retailer anticipated and managed risks associated with customer churn and identified the key areas to increase the business value. Additionally, the client optimized sales and marketing campaigns and improved conversion rates. This helped them reduce churn rates by 10%.
To know more about how our churn analytics solution helped the fast food retailer gain insights into the latest food industry trends, request a free demo now!
Churn Analytics Solution Insights
Quantzig’s churn analytics helps firms in the food industry anticipate their client’s service consumption that may trigger cross-sell and up-sell opportunities. Additionally, firms can gain a holistic 360-degree view of the customers’ interactions across multiple channels with the help of Quantzig’s churn analytics. Firms can also comprehend the customers’ needs, preferences, and offer personalized services across their business units.