One of the best investments you can make, a customer loyalty analysis helps you retain existing customers
In our experience, the majority of companies have little or no knowledge over the reasons behind customer loss. Using Soliditet’s customer loyalty analysis solution, our customers have succeeded in curbing customer loss by between 25–50%.
Retaining existing customers is one of the most crucial challenges faced by companies today. As if it wasn’t difficult enough, winning a new customer requires a considerably greater input when compared with the income generated by an old one. With this in mind, it’s not too hard to work out that taking measures aimed at retaining existing customers represents a smart investment. Thus far, those customers we have assisted have had no, or little previous insight into the most common reasons behind their customer loss. Furthermore, those with some degree of insight have rarely adopted a structured approach when acting on the signals they have perceived.
A customer loyalty analysis helps restrict customer loss
Using our customer loyalty analysis solution helps you chart information either held by us, or by you – information which can most likely provide an explanation for your company’s customer loss. We also analyse information on the customers you have already lost. This results in a record containing relevant items of information, a combination of which are pooled together to provide an indication of where the risks lie. This knowledge is subsequently applied to a model which produces a probability rating – expressed as a percentage – for each individual customer, as well as on an overall scale. The companies we have helped so far have succeeded in restricting customer loss by 25–50%.
The result – a practical model
The model produced may be applied to all of your customers on a continual basis, or, for example, only target those whose contracts expire within six months. This opens up the possibility of targeting an offer of renewal towards a specific customer based on the probability of this customer choosing to cancel its contract.
You are welcome to contact us for more information
Are you interested in finding out how we can help you, and your company? With considerable experience offering expert analysis and business advice, Soliditet’s business advisors are equipped with cutting-edge tools for the analysis of patterns and behaviour around customer bases and transactions. Feel free to give us a call.