Trend Analysis Predicting Customer Churn

We build solutions that take customer transaction data, classify normal behaviors, and uncover ways to decrease customer churn and improve customer relationships,

Customer Churn Challenge

Have you ever had a key customer leave you and you didn't see it coming? 

When this happens, there are always three questions that are asked:

  • "Why?" - To which the answer is something mundane that could have been corrected if an account executive were aware of the issue.
  • "How did we not see this coming?" - Customers aren't always forthcoming with their issues. Here in the Midwest, we call it Midwest nice. Rather than create conflict by addressing  the challenges they have with your product, they just stop using it.
  • "How can we make sure this doesn't happen again?" - Enter Data Science...

The Solution

We join data from your CRM and Transaction systems. Using a lagging average, we identify customer percent transaction changes over a period of time. Working with your business users and utilizing machine learning, we establish what percent transaction change thresholds are indicative of a customer churning or needed attention.

An increase in percentage of transactions allow account executives to reach out to ask why things are going well. A negative percentage change outside of the threshold will alert account executives that action is needed and the customer is potentially going to churn.

lagging average

Example: Customer XYZ has a 25% drop in transactions this month, we should reach out to understand if there are issues with the product or if they are evaluating other solutions.

 

The Results

For the first time, our customers can have internal departments notified of drastic transaction changes indicative of customer churn.  They can see the data on dashboards by customer, review transaction history, and reach out to their clients at crucial points to strengthen and maintain their customer relationships.

Are you interested in reducing customer churn in your organization? Set up a 30-minute free consultation with one of our AI experts HERE.