Develop a sustainable strategy for customer retention
Any type of business that sells a product, service, or experience needs to have a solid understanding of their relationship with their customer base. One of the biggest challenges businesses face is needing to understand exactly what causes customer churn in order to successfully predict, prevent and reduce it.
Find outliers. Use Heinrich Group’s density estimation and two sample testing methods to identify outliers among your customers and analyze their behavior to determine the probability of churn
Classify likely churn candidates. Use Heinrich Group’s classification algorithms to identify likely stages of churn and use specific marketing tactics to intercept and convert churn candidates
Discover Groups. Use Heinrich Group’s clustering techniques to profile and group customer segments and tailor outreach programs when behavior change imply churn risk