ChurnPrevent
The issue
Typically, termination rates for companies with contractual business models (e.g. telecommunications or cable TV providers) can be anywhere between 2% and >20%. Early-warning systems are usually fairly unreliable and thus prevention campaigns are either budget wasters or not done at all. At the same time, the actual cancellation reasons remain opaque.
Our solution
ChurnPrevent uses 360° data analysis to evaluate all relevant factors behind a customer churn. Besides basic customer data, invoicing data and sales information, this includes 'trouble tickets', customer complaints linked to their contract, and - where relevant - internal technical performance data. External sources, such as micro-geographic data, complete the picture.
Clustering processes narrow down cancellation factors and separate important complaints from irrelevant ones, for example. Our industry experience guarantees that the analysis always happens hypothesis-driven and practical.
The prediction models that have been developed are optimized through several iteration cycles, and the resulting campaigns are tested in pilot runs. These campaigns are solely aimed at potential churners; they address the relevant cancellation reasons in a targeted manner, thus avoiding the need to use costly 'goodies' and reducing the risk for 'waking up the sleepers'.
Our strictly impact-oriented approach ensures that short-term cancellation prevention measures are available, which yields a quick return on investment for the project. Contact us for more information!
Impact
ChurnPrevent has a double impact: Firstly, our clients are able to identify those customers, who may terminate their contracts, with up to 80% accuracy and thus minimize budget waste on prevention measures. Secondly, our analyses help to discover the truly relevant cancellation drivers, thereby opening up operational improvement potential to avoid churn.
See how one of Europe's leading cable operators applying our product prevented churn ...
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... by identifying churners before they churn :
... by optimizing the customer communication: