Customer Churn Analysis for IT Services Industry Client
The IT services industry is facing intense competition both in terms of consistency in product and price offerings and delivering superior customer experience. Large organizations in the IT service landscape are relying on customers churn analysis to improve customer satisfaction to reach out to different niche customer segments. The customers in the IT consulting space are […]READ MORE >>
The IT services industry is facing intense competition both in terms of consistency in product and price offerings and delivering superior customer experience. Large organizations in the IT service landscape are relying on customers churn analysis to improve customer satisfaction to reach out to different niche customer segments. The customers in the IT consulting space are demanding and are expecting robust services without compromising on the service quality. To understand the future possibilities of customer’s prosperity to churn, renowned businesses are focusing on effective retention campaigns.
With the goal to reduce customer churn and improve attrition levels, organizations are devising an effective customer churn analysis solution. Quantzig’s customer churn analysis solution helps the client predict the likeliness of the customer churn patterns in advance. In addition, the experts further helped the client identify the effective marketing actions that will have a better impact on customer retention level. Furthermore, the engagement assisted the client to achieve proactive retention; thereby, increasing the ROI.
The Business Challenge
In this competitive environment, leading organizations face hardships in retaining their customers rather than attracting new ones. Like similar organizations in the IT services industry, a renowned client with a considerable number of offices offering IT services was facing a serious challenge retaining customers and improving customer satisfaction levels. Initially, the client invested a part of the budget in providing personalized offers to the customer. As the number of customers increased, the client paid less attention towards attracting new customers and improving the overall customer experience for the prevailing customers. To increase customer satisfaction and optimize customer experience, the client wanted to leverage the use of customer churn analysis.Want to learn more about our analytical methodologies?
Predictive Analytics Solution Benefits
After gaining a detailed information, the client was able to gain real-time insights into the customer behavior, transactions, demographics data and usage patterns. The engagement helped the client identify the cause for increasing churn rates and effectively resolve the issues. Furthermore, the predictive solutions assisted the client to engage with customers during long-time to foster customer relationship. The client was further able to convert unstructured data into meaningful insights and devise effective programs for effective customer retention.
Predictive Analytics Solution Predictive Insights:
- Effectively predict the likelihood of churn and determine the reason for the churn
- Create churn risk scores and drive robust retention campaigns
- Analyze real-time churn risk information and conduct promotion campaigns to reduce attrition level
- Reduce the loss of referrals and create better pricing model
- Reduce the overall marketing costs and maximize profits
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