Reduce Customer Churn with Data
Customer lifetime value (CLV) is the foundation of recurring revenue business models: you recoup the costs and profit from a customer over their lifetime using your product, not from a single transaction. CLV is important because you need to make sure that the costs you spend to acquire and maintain your customers are worth it! […]
Calculating churn probability is an important part of fighting churn because of three key use cases: Evaluating which behaviors are most important for engagement Calculating customer lifetime value Segmenting customers for high cost interventions In this post I give an introduction to logistic regression: Logistic Regression is the most common and versatile way to calculate […]
In this post I’m going to explain why you need to use what I call “advanced” customer metrics in your fight against churn. If you are trained in data science, you would call this feature engineering because we are talking about designing the data (features) for an analysis. I’m going to make some examples from […]