DataSentics

Preventing customer churn

Introduction

Preventing churn is the most effective way to build up a relationship with your customers based on their loyalty and trust. Understanding customer needs and preventing his complaints, churn prevention is a crucial part of your interaction with the customer.

Business case

Customers’ churn troubles all the companies around the world. Some of them fail to detect the potential unsatisfaction of the client what leads to the natural churn. When the only option, retention campaign, is costly and not consistently effective, the modern AI/ML solutions can predict the potential churn in advance.
The key information could be hidden in emails, phone calls or decreasing customers’ activity.

Solution

Our solution is based on predictive modeling of potential churn. As customer history contains all possible interactions like phone calls, chats, e-mails, and NPSs, we have the opportunity to analyze churned customers’ behavior by training ML algorithms. Implementing NLP practices to extract the keywords and understand the communication sentiment helps us classify churning customers and find the solution to their problem or complaint. Some issues that clients faced could be solved by automatically generated answers or advice; others could be routed to the respective specialist, some will be tagged as a potential churn and prevented.

Benefits

  • Detecting critical topics/problems requiring fixing with priority to prevent churn
  • Categorizing and routing to the corresponding specialists up to 90% of NPS forms
  • Finding drivers of increasing positive attitude thanks to the sentiment analysis