predict and prevent churn

Prevent customer loss

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Avoid customer attrition by identifying historical patterns

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Increase profitability and retain more customers

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Increase customer lifetime value by improving customer loyalty

Better and longer lasting customer relationships

Better and longer lasting customer relationships

In some sectors, customer turnover, or "churn", is as high as 40 percent a year. This is especially true in sectors where competition is fierce and it is easy to switch suppliers, such as in the telecommunications sector. Many companies are so busy identifying and attracting new customers that they don't realize an equally important business strategy is minimizing customer loss and increasing the lifetime of each customer.

The cost of attracting a new customer can be five times as high as the cost of retaining an existing customer. When you lose a customer, it is important to understand what type of customers choose to leave and why in order to minimize the risk of it happening again. A churn analysis can give you the answers to these questions, providing a clearer overview of the risk among your existing customers and what types of customers you should prioritize in future prospecting.

By working strategically with insights on which customers are likely to defect and which are most profitable over time, you can adapt your communication and offer to establish a long-term relationship with the customer profiles who have the highest customer lifetime value (CLV).

Increase profitability by reducing customer churn

Increase profitability by reducing customer churn

Identify variables that affect churn

  • Predict the risk of customer defection by identifying the characteristics of groups that disappear from your customer base.
  • Prevent customer churn by understanding the events that trigger defection.
  • Develop strategies for attracting customer profiles that have the potential for long-lasting customer relationships.
Streamline your business with increased customer lifetime value

Streamline your business with increased customer lifetime value

Increase loyalty for longer customer relationships

  • Create long-lasting customer relationships with relevant and adapted communication.
  • Increase revenue by selling more and more often to loyal customers.
  • Improve customer lifetime value by adapting your offering structure to regular purchases.

Traditional churn analyses tend to show the reasons customers choose to terminate a relationship, but rarely in time for the company to act and prevent the customer from leaving. With predictive analytics, you can get the information in time to adapt your communication, customer service and offers to meet your customers' needs, thereby minimizing the risk that they will terminate their relationship with you.

The better you get at following up on churn and the reasons for it, the better you can help new customers succeed with your products and services and minimize the reasons for defection right from the start.

Bisnode has the structured data you need for integration with your own internal data, and the ability to include unstructured data to identify the variables that affect customer churn in your business.

Supplemental external information includes data for both private consumers and companies. Bisnode ensures the quality of this data so that you can be sure your decisions are based on accurate information.

Bisnode has been collecting and processing data since the 1800s and has been conducting predictive analyses since the 1960s. At Bisnode, 300 analysts work to continuously verify and assure the quality of data from hundreds of different sources. This means that you can always be sure that the decision support you receive is reliable and accurate.

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