Improve Customer Churn with Intelligent Retention
26 June 2019
Find out how much your business could save from reducing churn with our intelligent retention calculator. Find the calculator here.
Our Intelligent Retention product enriches your customer data to predict likely churners and provides flexible end-points for you to consume and subsequently drive retention strategies.
The product has delivered over £2m in annual benefits for a leading European health club by reducing customer churn by 5-10% each year.
Our client, a leading UK and European health club, operates in a highly competitive market, with significant costs spent on new customer acquisition to maintain and grow its member base.
With annual retention rates as low as 20%, customer churn was a significant pain point, and predicting those likely to churn in advance would allow our client to intervene early with an appropriate retention offer.
OUR APPROACH AND PRODUCT
Following an initial proof of value, our first model demonstrated that there was predictive power in our customers data, and that it could be enriched with 3rd party data to make our predictions even more powerful; and sufficient to use operationally.
The proof of value was tested with real-world retention campaigns to further refine and validate the model performance; adding the ability to recommend optimal retention message predictions too.
Our client now consumes a fully managed service that delivers a prioritised list and scorecard of top churners for each quarter for our client to retain.
Contact us to find out more about how you can improve your customer retention efforts.