Predictive Churn Analysis
Revolves around 4 questions:
To design a customized Fidelity Development strategy, the first step is to define the concept and the context in which it operates. Before setting a Loyalty Marketing strategy, it is also essential to accurately analyze all available data.
The second step will be to define the program on the practical side, establishing various Rewarding mechanisms. Measuring the Churn Rate is very important also to understand whether it is appropriate to increase investments in acquiring a new audience, or to start recovering already acquired but currently dormant customers. It is important to remember in fact that the cost of acquiring new customers is much higher than the cost of maintaining an existing customer base. Thus, a long-standing customer is worth much more than a newly acquired one.