When the going gets tough, the tough get going. For most businesses, customer attrition is a fact of life—a potentially serious problem that can sap the energy out your brand and the profits from your bottom line. Don’t let this universal business problem stop your business from developing and implementing strong, measurable strategies that can transform this negative situation into credible opportunities for growth in both market share and profitability. CBIG Churn™ is an advanced analytic solution that offers businesses a much more assertive approach to managing churn, and improving customer loyalty migration to its full potential.
Our CBIG Churn™ optimization solution doesn’t just look backward in an attempt to predict the future. It’s an iterative, ongoing approach that relies on advanced analytics segmentation query tools that draw on four major types of data—Behavioral, Financial, Demographic, and Alternate sources—to understand current, future, and past perspectives. CBIG Churn™ taps into these data assets to identify and categorize your consumer base into measurable groups, from extremely loyal customers and lower potential customers to unpredictable or even highly negative customers who could adversely affect your brand and profitability. Then using various marketing means—cross selling, upselling, affinity marketing, loyalty marketing, managed attrition to discard negative customers, and new customer acquisition, to name a few—you can simultaneously increase market share and increase profit by migrating customers from a lukewarm stance toward a more loyal view of your brand.
CBIG Churn™ goes way beyond the typical “stop the bleeding” stance to avoid losing customers. This solution takes advantage of analytic approaches that, until recently, were out of reach. These include, for example, understanding customer level profit, which is a prerequisite to managing churn, and using Primary, Market, Social Media, and Competitive research data to discover why specific approaches succeed and why others fail. All of these tools can be deployed and integrated after the methodology basics are in place, to create a conducive environment in which customers are more disposed to respond favorably to targeted marketing programs.
CBIG Churn™ can work as an open-ended program, where tracking successes and learning from attempts that did not work as well calls for an ability to monitor and analyze results over time, and also as a rapid, turn-key solution. With a predefined set of data you provide, our rapid deployment solution helps you deliver fast results and realize lucrative gains with minimal impact to your business operations and budget.