Attracting new customers costs more — sometimes five to 25 times more — than retaining your existing ones. DataScience.com VP of Customer Success Kevin Fisher shares three data-informed strategies for preventing customer churn.
Subscription retailers are among the fastest growing businesses in the world today. To maintain this momentum, most are focusing on data-driven customer retention strategies driven by predictive data modeling, which helps retailers understand when and why customers lose interest in the first place.
In this article, which originally appeared in Dataconomy, DataScience.com Director of Customer Success Kevin Fisher breaks down three key steps to optimizing your retention efforts using an in-depth churn analysis and other data science techniques.