Increased competitiveness in the region had shrunk the profits of a multinational telecommunication service provider and resulted in a high rate of customer churn.
Management was certain that understanding customer behavior and predicting it will help in reducing customer churn and increasing profits.
The company decided to employ Nuummite Consulting’s services to identify ways in which to increase customer retention.
- Developed a large customer behavior model containing several years of history
- Created of a customer retention prediction model
- Developed key recommended actions for different customer profiles
- Creation of a prediction framework that automatically triggered next best action activity for each customer scenario
15% improvement in customer retention
Creation of a methodical marketing promotion plan that focused on each customer scenario