Customer Churn and Winback
We can help you to identify customers who are at potential risk of switching, the attitudes, behaviours and experiences that are driving this, and how you can try and prevent this occurring to other customers.
Not only is this important from a time and money perspective e.g. from lost sales or the resource impact of increased complaints, but also from potential brand and reputation damage that disconnected and lost customers can inflict.
Using qualitative and/or quantitative survey and analytical techniques, we typically speak to current and lapsed customers, as well as employees, to uncover:
- Why customers are leaving: triggers and other reasons
- What is most important to them and how do they rate your performance on these elements vs competitors
- The value these customers have to your business
- What they have said to others: riends/family, social media, digital sites
- Which competitors are in their consideration set and which one they switched to and why
- Likelihood of returning and actions for trying to win them back
- The combinations of events and/or characteristics that are likely to cause switching or a reduction in spend using a Predictive Churn analytical model