Customer Retention Optimization
Retain your customers with machine learning, with an added human touch.
Let's talkWhy Customer Retention Is Important
Businesses often focus excessively on acquisition while neglecting existing customers — creating an unsustainable churn cycle that erodes lifetime value and amplifies acquisition cost.
Obtaining a new customer can cost your company up to five times more than retaining an existing one.
Businesses that choose to ignore the opportunities enabled by recent advances in machine learning risk falling by the wayside as competitors capture and keep more of the same audience.
Knowing in advance which customers are most likely to churn — and applying preemptive measures — turns retention into a programmatic, repeatable practice.
Where It Applies
Enhancing the Customer Journey
A comprehensive review of the customer journey, and the data associated with it, allows for a better understanding of the value proposition and the role of customer personas — including their pain points, needs, and behavioral patterns.
ML Powered with Human Touch and Common Sense
While machines are best at recognizing patterns and insights, humans alone are capable of interpreting and understanding them. Our practice pairs ML rigor with product, design, and platform discipline.
Driving Customer Lifetime Value Through Technology
The diagram below maps internal teams (Marketing, Product, Customer Relations) through the engines we deploy (Personalized Recommendations, Next Best Action, Churn Prediction, Re-engagement, UX/UI Optimization) to the funnel outcomes that matter — Acquisition, Activation, Retention, Revenue, Referral.
Understand — Predict — Personalize
Eight out of ten consumers who leave one company for another say they would not have switched if the primary company had done something differently to entice them to stay. Personalization combined with predictive analytics surfaces the at-risk segment in time to act.
Retention Optimization Loop
What You Gain
Predict customer churn and increase retention rate
Improve customer satisfaction and increase LTV
Scalable to accommodate plenty of products/services inventory
Seamless integration with CRM
You Cannot Improve What You Cannot Measure
Tracking the right metrics is the foundation of any retention program. We pair behavioral analytics tools like Amplitude with our ML pipelines so improvement is observable, attributable, and repeatable.
Fast Proof of Value
We conduct a workshop and proceed with fast Proof-of-Value development. You will be able to see the first proof of value in just 4 weeks after the workshop.
POC in a Box
Provectus runs several assessment sessions with customer stakeholders to align on goals, data readiness, and success criteria.
Provectus explores potential use cases, builds initial models, and defines the metrics that will validate the approach.
Provectus runs the model to test how it interacts with real-world data, and tunes for production conditions.
Provectus evaluates A/B test results against initially defined goals and packages the next-step roadmap.
Customer Success Stories
Audiobooks.com uses AI to predict churning customers and prevent attrition.
Blue Bottle Coffee optimizes supply and demand, improves ordering, and cuts food waste.