Customer Churn Prediction
Affordable property management software solutions for community assosiations, property management and development companies.
Business
OUTCOMES & BENEFITS
of customer churn analysis
Shrinking client base
Revenues decrease
Customer complaints & inquiries increase
INDICATORS
of customer churn
Customer retention plan development
Cross-selling and up-selling strategy development
Customer behavior forecasting
Client base segmentation
Steps to reduce
CUSTOMER ATTRITION
Step #1
Estimate customer churn probability and business risks in terms of customer churn.
Step #2
Develop a decision-making model for customer churn management based on Customer Lifetime Value (CLTV).
Step #3
Define a client segment prone to chrun and develop customer retention plan for each of the customer segments. Example of such a plan.
SEGMENT
ACTION
Purchase probability is greater than 50% and three upper customer deciles.
Mailing and calling
Purchase probability is greater than 25% and five upper customer deciles.
Mailing
Low purchase probability and/or bottom customer deciles.
No promotion
DATA SOURCES
FOR CUSTOMER CHURN ANALYSIS
