Prevent customer churn
Objective: Identification of customers at risk of churn and proactive application of countermeasures to increase customer loyalty and secure sales.
Use of market, product and customer data to gain insights into churn behaviour.
Analysis of the reasons for churn along the customer journey to identify and derive hypotheses, phases, risk factors and probabilities.
IBP Churn Prevention Approach
Churn prevention enables customers at risk of churn to be identified early and addressed proactively.
This requires the analysis of relevant data sources in order to identify information about reasons for churn along the customer journey. Based on the reasons for churn and selected drivers, IBP uses a factor logic to derive customer churn probabilities along the customer journey. The result is presented in an attractive and usable visual form (e.g. dashboards).
On the basis of the well-founded data, we will work with you to derive suitable measures for churn prevention and, if desired, implement them directly.
The IBP Churn Prevention Approach delivers:
- a systematic definition of the most important reasons for churn along the customer journey
- a data-driven analysis of internal existing customer data and external market findings
- provable churn probabilities for individual customers and customer groups
- a quickly understandable and attractively prepared presentation of the results
- concrete prevention measures, in order to immediately initiate appropriate activities based on the results and, if desired, pilot testing and implementation of the concept
Concrete contents are:
- Target vision development for active cancellation prevention
- Identification of qualitative reasons for churn along the customer journey as well as identification and clustering of relevant data sources
- Development and validation of a scoring model
- Conception of individual offers/measures to avoid cancellations
Benefits
- Identification of churn factors along the Customer Journey
- Identification and evaluation of relevant data sources
- Conception of a customer-specific churn score
- Derivation of preventive measures
- Conception of reporting interfaces aimed at stakeholder needs
- With the help of concrete churn prevention measures, the churn rate across the entire customer base is reduced so that important sales are retained
