Gaining new clients or customers is crucial to building your business. Keeping them coming back on a consistent basis can be the key to growing and expanding faster and bigger than the competition. At Resonant Analytics, we use the most up-to-date predictive modeling processes to help improve and expand your Customer Retention rates.
Customer Retention refers to the ongoing efforts to reduce your customer churn and attrition rates, and keeping your client cancellations to an absolute minimum. The goal at Resonant Analytics is to help you retain customers through the expert analysis of predictive modeling systems to target the customers most likely to be repeat customers going forward.
Customer Retention Through Predictive Modeling
If you are having difficulty engaging your client base and getting customers to return for your products and/or services, the technology and digital marketing experts at Resonant Analytics can help.
Our experienced team can create effective Customer Retention models for your key customer segments. These predictive models will analyze your customers’ behavior and provide valuable insight in order to develop strategies for better audience targeting.
Customer Retention Shows Increase in Retention and Revenue
A national retailer was struggling with the consistent engagement of its clients and ongoing Customer Retention. The technology and marketing specialists at Resonant Analytics created predictive retention models for key customer segments, predicting the likelihood of renewal in the program. The models analyzed customer behavior and provided the insight to develop strategies for better targeting communications.
Utilizing direct marketing retention programs based on this solution, customer interaction increased by 4% resulting in $2 million of incremental revenue. In addition, the cost of customer retention programs decreased 46% through improved targeting of communications to high potential value customers.
Customer Retention Program Markets to Existing Customer Base
By focusing on Customer Retention through effective predictive modeling, Resonant Analytics can increase your company’s revenue while using far less financial resources that it does for customer acquisition programs. Marketing and selling to established customers is a far more effective and efficient way to grow your revenue.