Grow a Sustainable Business
Many companies find themselves focusing only on adding new customers. However, ignoring customer attrition could eventually lead to the demise of any great company. Customer Retention is incredibly important for growing a sustainable business. The fact that customer profitability tends to increase over the life of a retained customer is added incentive for businesses to allocate more resources to sharpening their customer retention strategies.
At the core of AnswerOn’s methodologies lies the technology and experience to not only predict churn likely subscribers accurately, but to create individualized retention offers directed at high-risk, high-value subscribers.
The AnswerOn Solution
AnswerOn uses customer data, statistical modeling, Meta Analytics™, Multi-Dimensional Offer Optimization™, and Risk Segmentation to:
- Identify high value subscribers who are likely to deactivate or who are disloyal and dissatisfied.
- Identify the key variables associated with a subscriber’s loyalty score computation.
- Produce loyalty campaigns that extend individualized retention offers to high-risk, high-value subscribers.
- Evaluate and analyze the effectiveness of existing customer retention campaigns.
Multi-Dimensional Offer Optimization™ (MDOO) is a proprietary technology that simulates the impact of potential interventions. As a result, the most effective intervention is always delivered to a targeted subscriber. The MDOO offer engine maximizes the impact of each individual campaign by increasing acceptance and targeting high risk characteristics of customers with the correct offering.
Many companies find themselves focusing only on adding new customers. However, ignoring customer attrition could eventually lead to the demise of any great company. Customer Retention is incredibly important for growing a sustainable business.
The Importance of Being Proactive
AnswerOn (AO) has found that many companies find themselves in a situation where they are being reactive instead of proactive. The good news is that AO provides solutions that not only enable service providers to efficiently retain their customers, but also target new customers. The AnswerOn Solution for customer retention helps to identify low-risk subscribers that provide the highest revenue potential. This allows the service provider to target these potential subscribers with much more attractive offers, while keeping marketing costs down. The end result is a demonstrable return on investment.