Customer Churn Reduction Consulting Customer Churn Reduction Consulting

Reducing customer churn is critical to your organizations survival! Customer churn refers to your customers or subscribers opting out, unsubscribing or leaving you for competitors.  Dunn Solutions' Customer Churn Reduction Consulting is an easy to use, put powerful service to help you and your organization retain existing customers.

 

Churn Analysis Diagram

The cost of acquiring a new customer is, on average, six to seven times the cost of retaining an existing customer.  It's three times easier to cross sell to existing customers than to new customers.  New customers are important for your growth, and so are existing customers!  Given the statistics, existing customers are a great opportunity for up-selling and cross-selling.  Your organization gets a greater ROI by selling to existing customers.  Reducing customer churn with Dunn Solutions' Customer Churn Reduction Consulting helps you make more money.

Dunn Solutions' Customer Churn Reduction Consulting uses power of machine learning to create a churn propensity model that works with your data.  You simply upload your sales, product, customer and web traffic data and the machine learning algorithm will exploit patterns found in the data to identify the customers in the early stage of their attrition phase.  Further, the Customer Churn Reduction Consulting calculates the customer lifetime value of each existing customer, so that you can give the highest priority to the riskiest and most valuable customers.

In our experience, an average improvement of 5% in consumer retention rates translates to an average increase of 20% in profitability.  That's money left on the table if you don't identify churners with Dunn Solutions' Customer Churn Reduction Consulting.

The Dunn Solutions' Proactive Retention Approach

What is Customer Churn?

Customer churn occurs when customers or subscribers stop doing business with you.  Other terms used for this are customer attrition, opting-out, cancelations, loss of customer or churners.  It is much less expensive to retain existing customers than it is to acquire new customers.  Dunn Solutions' Customer Churn Reduction Consulting is an important tool in identifying churners so that you can take action to retain them.

Contact us to learn more about customer churn.

Why Do Customers Leave?

Dissatisfied customers will rarely give you any warning; rather, they will simply stop purchasing your product or service.  Even when they do voice their dissatisfaction, it is usually at the point where trust has been compromised and long-term consumer retention is unlikely.  True consumer retention and customer loyalty is achieved only by early detection of customer's intention to churn and prompt action.  With Dunn Solutions' Customer Churn Reduction Consulting you will know in advance if a customer is going to churn thus giving you opportunities to retain the customer.

Contact us to identify customers that may leave!

Retention and the Customer Journey

Organizations spend huge amounts of money to acquire customers.  Even before a customer is acquired you must gain brand and product awareness and customer consideration.  This requires lots of effort throughout the sales funnel, using lots of marketing and sales resources.  Once a customer is acquired they should be held on to dearly (at least the ones with high lifetime value)!

Knowing which customers have a high propensity to churn is critical to targeted retention efforts.  Dunn Solutions' Customer Churn Reduction Models will identify who is likely to churn by providing a churn risk score and also help you focus your efforts by predicting customer life time value.

Contact us to retain customers throughout the customer journey!

Should All Churning Customers be Targeted?

While it is tempting to target all potential churning customers, it is not cost effective or profitable.  The point is to make money and you accomplish this by retaining the appropriate customers.  Who are these customers?  Only high lifetime value at risk customers should be targeted. 

Contact us to learn which customers should be retained!

How Can You Detect the Early Signs of Future Attrition?

Which customers have a propensity to churn?  The answer lies in your data, but it is not something you can do with a spreadsheet!  Using machine learning, Dunn Solutions' Customer Churn Reduction Consulting uses your historical data to find the patterns and predict who is most likely to churn.

Retaining Loyal Customers and Advocate Customers

Loyal customers and customers who advocate for your services or products are very valuable customers.  Not only do these customers buy your products or services religiously, they also act as part of your sales team!  Losing these customers to churn would require acquiring multiple fold number of new customers.  This is an expensive proposition.  Dunn Solutions' Customer Churn Reduction Consulting will identify these potential churners so that you can proactively take action to keep these customers happy and satisfied.

Contact us to retain loyal customers!

Customer Churn Reduction Metrics

Dunn Solutions' Customer Churn Reduction Consulting provides you with a list of customers most likely to churn as well as the following metrics:

  • Life-time Value of Customer
  • Churn Rate
  • Risk Score
  • Opportunity Loss

Customer Churn Reduction as a Service, how does it work?

Dunn Solutions' Customer Churn Reduction Consulting is a subscription service that uses a web-based interface to get your data, mine your data, create a customer churn model and score your data. 

You provide sales, product, customer and web traffic data in a text file (we provide the format structure for you) and the service does the rest.  If there are issues with your data, you will be notified and given instructions on what to do to resolve the issues. 

Once your data is scored, a list of customers with their churn propensity and life-time value is provided for download.  In addition, we provide recommendations on what you can do to address the various types of churners.

Contact us to learn more about using Dunn Solutions' Customer Churn Reduction Consulting!

Do Your Customer Churn Reduction Models Require More Refinement?

Do your customer churn reduction models require a more custom approach?  Dunn Solutions' advanced analytics experts can create more advanced and sophisticated churn models to meet those needs.  Simply contact us and we can discuss your special customer churn model.

Contact us to discuss your special customer churn reduction needs.

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