Customer or Member Churn
Reducing customer churn is crucial to your bottom line business growth.
When customers terminate their relationship with your company, they take with them their lost revenue and the marketing costs of replacing them with new customers.
You have only two lines of defense against eliminating and reducing customer churn: predicting customer behavior and/or creating a customer lifecycle management system that adds value and service to each customer you serve, thus creating a loyal and sticky environment.
Predicting your customer’s propensity to churn gives you real-time insight about your customer activity. In this way, you target the golden customer—and eliminate fraudulent customers you won’t want to retain altogether. Infogix Propensity Scoring works in real-time, at the point of sale (POS). We are able to provide a go-or-no-go decision within seconds after input of a prospects’ data. That means you control the amount of risk you introduce to your customer base, while capitalizing on the opportunity presented.
Upsell and Cross-Sell
Tracking valuable customer information, like balances or daily usage, and understanding customers’ real-time activity, presents huge potential revenue generation opportunities. Avoiding churn leads direction to upsell or cross-sell opportunities.
We provide a deeper understanding of your customer, producing a higher accuracy of customer behavior than any of our competitors. You gain the ability to offer products and services at the point where the customer is ready to purchase.
- Utilize subscriber data, demographics, and third party data to maximize revenue by identifying the right offer at the right time for the right customer which helps increase ARPU while maintaining a positive customer experience
- Identify opportunities to convert customers into more cost effective payment options, like paperless billing, automatic withdraw, or email invoices
- Ensure you maintain your customers by proactively addressing churn risk. Learning from the customer’s behavior from application and onboarding through the lifecycle, Infogix Churn Management scores customers for Propensity to Churn, prioritizes customers for rescue, and suggests proactive actions
- Use customer scoring to easily identify when, where, and what to market to a customer
These dynamic approaches to analytics enhance traditional data mining models by incorporating up to date information and exact offers which fulfill customer’s needs in near real-time. A customer on the brink of churning can now be up-sold into a more convenient package; or, they can be converted to paperless billing or automated withdrawal payment options—services that please your customer and save you money.
Using Infogix customer analytics affords you the ability to segment customers by behavior patterns and track their characteristics and attributes. This information can then be leveraged to target customers with appropriate, automated offers and interactions that in an effort to reduce churn,up or cross-sell.