Customer churn can be devasting
Once a customer decides to cancel a subscription, service or policy, it’s often too late to try and reverse their decision and retain them. Using intelligence-based Robotic Process Automation (RPA) and predictive analytics to analyze customer behavior. This can be done generating custom alerts for the sales team of the customer’s activities and address the risk before they decide to cancel. Predictive analytics can analyze customer behavior to find obvious internal risk factors like long periods of inactivity or re-checking the terms of a long-term contract or policy. It can also monitor the customer’s activity on external platforms such as social media and when the RPA bot senses risk, alerts can be sent to the relevant salesperson that it’s time to make offers or recommendations to retain the customer.
These recommendations could include different products or plans that better fit a customer’s needs, or suggestions based on what other customers purchased who have similar data profiles. Churn prediction and prevention are increasingly important in today’s online subscription business landscape.
Contact KEYVRIX to learn how to use intelligence-based RPA to detect customer churn and automate customer recommendation generation using predictive analytics.