A Step-by-Step Plan to Increase Customer Retention

This paper outlines an eight step plan to use analytics to reduce attrition and keep your existing customers buying. The steps include benchmarking; determining the loyalty profile and risk profile of the customer population; finding a segmentation that highlights the customers at risk and then campaigning to them; testing the campaigns to increase effectiveness; building an early warning system; and continuing to measure key performance indicators. Several charts with actual customer data illustrate the process.