Customer churn (also known as attrition, turnover or defection) occurs when a customer stops buying from a business for one reason or another. Staying on top of customer churn is an essential requirement for any company, but one that is becoming increasingly difficult due to modern-day customers being more knowledgeable, educated, and demanding than ever before, with more choices in the marketplace to satisfy their needs.
Although defining and predicting customer churn might appear straightforward – involving the creation of predictive models capable of identifying customers at risk of churn and then targeting them with specific offers or increased service levels – there is no "one-size-fits-all" approach to the problem and a significant amount of data analysis is required to get a satisfactory result. Rather than taking the traditional data science approach of creating custom, discrete models – which are often static and disjointed from the customer service workflow – Complexica addresses this problem through an integrated and automated approach.
Complexica's Customer Opportunity Profiler (COP) uses internal and external data sets to analyse customer activity on an ongoing, continuous basis – including purchasing trends & behaviour, service issues, social media activity, multi-channel interactions, and more – to identify potential problems as they emerge (as well as new opportunities, such as cross-selling & up-selling). Through this integrated, continuous analysis, COP can automatically identify customers at risk of churn, and provide customer service staff with Next Best Conversation™ recommendations that can significantly reduce attrition and enable personalised cross-selling & up-selling.
Calculate potential margin increase
To explore how Complexica's Customer Opportunity Profiler (COP) can increase customer engagement and reduce churn, please contact us
“Asahi Beverages is Australia’s largest brewer, supplying a leading portfolio to wholesalers and retailers, including some of Australia’s most iconic brands. Last year Asahi Beverages acquired Carlton & United Breweries, which is its Australian alcohol business division. To harness the strength of our expanded portfolio, we partner with our customers to run multiple and frequent trade promotions throughout the year, delivering long-term growth for both our business and theirs. Given the inherent complexity in optimising promotional plans and our continued focus on revenue and growth management, we have selected Complexica as our vendor of choice after a successful Proof-of-Concept of its world-class optimisation capabilities.”
Kellie Barnes
Group Chief Information Officer
Asahi Beverages
