Prevent customers from leaving for your competitors. Map their value and submit a timely counter-offer. Identify clients with a higher probability of leaving and take appropriate action in time.
Don't wait until a client is going to a competitor before enticing them
There are situations where a client's termination of a contract cannot be predicted, e.g., when they change jobs and their employer offers them services of a competitor. However, we can predict a lot of existing customer departures very reliably. At Adastra, we use advanced predictive modelling and other analytical methods to achieve this.
Using classification methods, we create a model for you that regularly evaluates the likelihood of a customer leaving. At the same time, we automatically link the identified customer to its value. You get an overview of how much potential loss their departure represents and can determine an adequate counter-offer while there is still time. This allows you to make the right decision as to which costs would be effective in saving the customer, and which would be unnecessary.
You can regularly create and evaluate targeted retention campaigns for small groups of your customers, so-called micro-segments. For example, start by contacting prepaid customers who buy limited amounts of credit and are likely to leave. If they receive a text message containing a special offer at a time when they are considering buying more credit, they will probably claim it and, in addition, their relationship to the operator is strengthened.
It's 5-7 times more expensive to acquire new customers than retain existing ones.
Monitor client behaviour
By combining prediction scoring with selected situations (events) in the customer's behaviour, such as calling your competitor's helpline, a complaint, or a long-term problem on the customer line, you get a tool that increases the accuracy of prediction, allowing you to communicate with the client almost immediately and resolve the problem.
Motivate employees to effectively save clients
Offer your retention team a tool that displays an identified customer, in time. Based on a well-managed interview and clarification of the reason for dissatisfaction, offer the customer a relevant solution, which of course takes the customer's value level into account.
You can also motivate your team and, in collaboration with Adastra, create a relevant motivation scheme for your employees that depends on saving a client and maintaining their value.
Would you like to get a solution customized to the needs of your company? Contact us today.
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