Customer Churn

Customer Churn Reduction

Customer retention is critical. Learn why your customers are leaving, what would make them stay, what would bring them back. Gain valuable information about competitors that can be used successfully in competitive bids.

Challenges include:

• Competitive stakes are high

• Product and Price advantages no longer enough

• Internet makes finding another vendor easy

• Prevent defections before they occur

• Become a customer-centric organization

• Truly understand and cater to different customers’ want and needs 

Our Solution delivers:

• Customer feedback: probability of renewing/repurchasing, reasons for defection, what would win them back

• Operational data:  which competitors considered, which competitor chosen and why

• Financial data: revenues lost, potential revenues gained with customer won back

• Reporting: strengths and weaknesses by specific competitor, customer segmentation by satisfaction and dissatisfaction drivers

• Best Practices in customer intelligence programs and dashboard reporting

Business Justification includes:

• Identifies at-risk customers and the reasons for their intent to defect

• More profitable sales efforts since costs to retain customers are less than new customer acquisition costs

• Learns at which points in the process problems exist

• Identifies strengths and weaknesses of competitors

• Arms Sales with data by competitor that can be used for winning new customers

• Provides input to marketing and sales efforts to win back customers

• Provides opportunity to retain customers on verge of leaving

• Provides input to plans for prevention of future defections