No client leaves your service overnight. Here's how you can make them stay.
Let say. you run a Recurring Revenue business which generates filthy amount of money by adding good value to your customers. But you can see that sometimes your customers are leaving due to various reasons. In this case, you can make them stay by offering Coupons, Discounts etc.
The problem is, we don't know whom to offer and what to offer in order to make them stay with your business. To solve this issue, I have created an AI project(I'm not the first person to bring this into market. It exists many years before! )
The project is famously known as "Customer Churn Prediction". This article won't be Technical, so that any person with different background can understand this.
so what happens is, depending on our lifestyle(The way we spend things- ex given below). our pattern of purchase for that specific month can be predicted using AI(machine learning).
So, when a customer is at-risk to churn, at that time, we can nourish customer by providing them offers and discounts to validate that the service is worth continuing.


Comments
Post a Comment