FEATURES
Recurring execution customer “scoring” system integrated into the CRM database that predicts the risk of churn at 1, 3, 6 and 12 months and the associated reasons
IMPACT
Potential coverage of 22% of losses impacting the 1% of customers with the highest risk and explainability of the most relevant variables in each case
ACHIEVEMENTS
Loyalty campaigns better focused and personalized in each case to facilitate the work of the marketing team
BUSINESS PROBLEM
Utility companies face an economic and operational challenge due to the loss of their customers. Registering (and canceling) a customer generates significant costs and operational efforts, and for this reason it is relevant to launch loyalty campaigns. However, the high volume of customers requires a solution that provides scoring of customers based on churn risk while being actionable and explaining the reasons behind the churn risk prediction for marketing to implement more effective and personalized strategies.
DRIBIA’S SOLUTION
Dribia has generated in these cases a comprehensive solution to predict and address customer shortages. Using a sophisticated scoring algorithm, it identifies customers at high risk, providing a clear explanation of the factors influencing possible churn. This allowed the marketing team to design personalized campaigns focused on addressing the specific risk motives of each client, to reduce downside costs and improve the effectiveness of loyalty strategies. The solution is implemented by using a simple “batch” process that is updated recurrently directly to the client’s systems.
