Identifying the churn potential of customers (whether B2B or B2C) is essential for taking proactive measures to retain them and strengthening their loyalty. Using data analysis, we can determine potential “drifters” (and churn probability) and, crucially, the reasons for churn. Churn and reversal analysis can even determine at an early stage customer segments that are likely to churn. When considering a company with 600,000 customers, even a small reduction of churn rate from 3% to 2.5% means the retention of 3,000 customers while strengthening their loyalty. When it comes to deciding on concrete customer retention measures, we often combine the results from churn analysis with customer lifetime value so that the focus is on valuable customers.
Do you want to know more?