Artificial intelligence to drive an effective retention strategy.
Identify customers at risk and gain insight into the drivers of churn, to more effectively target your retention efforts.
What is Churn ?
Customer churn occurs when customers or subscribers stop doing business with a company or service in a given time period. Measuring churn, understanding the underlying reasons and being able to anticipate and manage risks associated to customer churn are key areas for continuous increase in business value.
Customer Life Cycle
To forge stronger relationships with your customers, you need to understand the distinct lifecycle stages that your customers go through and provide the highest value at each stage, in order to realize the most effective customer engagement, monetization and long-term retention.
Predicting churn allows you to intervene in a customer’s experience and interact with them in a way that convinces them to stay. Our platform find the key variables that indicate a customer is about to stop using your product or service and uses these to generate a personalised risk score. High scores are flagged along with an automatically generated explanation of why the user has been flagged as 'at-risk', allowing you to take action before the customer leaves your service.
The ability to predict that a particular customer is at a high risk of churning, while there is still time to do something about it, represents a huge additional potential revenue source for every online business. Besides the direct loss of revenue that results from a customer abandoning the business, the costs of initially acquiring that customer may not have already been covered by the customer’s spending to date. (In other words, acquiring that customer may have actually been a losing investment.) Furthermore, it is always more difficult and expensive to acquire a new customer than it is to retain a current paying customer.