Merkle Churn Predictor and Retention Assessment

Merkle Churn Predictor and Retention Assessment

Comprehensive 4 to 6 weeks engagement bespoke to your needs

Business Challenges

Losing customers and their spend has always been a challenge for businesses. Acquiring new customers costs more and modern-day consumers vote with their feet more frequently and rapidly.

Knowing which of your customers are at risk of being lost forever, and why, is fundamental to retaining revenue and reducing costs. How do you identify them before it's too late? How can you make sure the right customers are never at risk of dormancy?

• Which of our customers is at risk of being lost forever? • I'm losing high spending customers - how can I identify those at risk before it's too late? • How can I make sure the right customers are never at risk of dormancy? • How and when can we get them to stay longer and do more?

Customer Experience, Loyalty and Retention

Predict customer churn and loyal customer behaviour: Leverage Machine Learning (ML) and analytics to analyse customer behaviour across different channels with the goal in mind to improve customer experience quality and using customised content to prevent churn.

Personalize messaging and offers to individual customers (Proactive & Reactive): Leverage Artificial Intelligence (AI) (Personalise) and multichannel customer communications (PinPoint) to proactively engage with customers with campaigns, ask questions and gain feedback then leverage contact centre (Connect) and AI to provide real time personalised support.

Approach

The churn prediction model works by understanding the traits and behaviours of customers who have churned previously and seeking out those with similar attributes in the existing customer base.

Our retention assessment gives expert recommendations to prevent slippage into at-risk states before it has already occurred, ensuring an optimised customer journey and an ever-improving prediction model.

Deliverables

• Analytics data assessment for churn model build, model tuning and deployment • Stakeholder workshops to develop retention & churn assessment • Tutorials, documentation and walkthrough

Summary

The Churn Predictor easily identifies those at risk of dormancy and allows you to react appropriately. Our Retention Assessment enables visibility of factors that may contribute to your customer churn, allowing you to assess and resolve any customer pain points before the customer gets there.

Success Outcomes

Prolonging the customer relationship and optimising the customer journey will deliver higher returns on your marketing budget.

Key Highlights

Develop a hyper-personalised experience to optimise conversion - Accelerate customer adoption journey by understanding the next best action - Drive higher conversion rate by creating a single view of your customer - Leverage Amazon Advertising to acquire new customer with unique insights - Enhance & predict the multi-channel impact on your business - Increase ROI on acquisition costs, increase average customer spend and get more of the right customers.