Better act than react!
Today, a retailer needs to keep track of attrition in their customer base. Acquiring new customers is far more costlier than retaining existing customers. Customer Churn analysis help organizations in identifying key factors driving churn and to design customer churn prevention and win back strategies to improve customer retention, loyalty and Lifetime value.
Rudder’s churn analysis technique varies across the industries, however, predominantly dependent on customer buying behavior, customer engagement type and transaction history. Every industry and business has unique way of measuring customer engagement and hence we deploy our econometric model knowing the business model. We also keep evaluating and evolving our model over time to improve it on account of shift in customer behavior and market dynamics.
Our churn analysis approach answers key questions like:
1. What are my key Churn drivers?
2. With current scenario, how many customers am I going to lose by next month?
3. How can I develop a customer win back strategy?