Utilize predictive analytics to identify users at risk of disengaging or churning. Implement tailored retention strategies to maintain their interest and loyalty.
About the Growth Play
Churn risk and prevention is crucial for SaaS companies aiming to retain their user base and maintain steady revenue growth. Churn, or customer attrition, represents the percentage of users who stop using a service over a given period. High churn rates can significantly impact the sustainability and profitability of a subscription-based model, making it essential to implement effective strategies to mitigate this risk.
This use case effectively leverages Intempt's lifecycle agent and automated engagement tools to address the challenges of churn management.
Benefits
- Early identification of at-risk users: Predict which users will likely churn before they disengage completely.
- Targeted retention strategies: Implement personalized campaigns to re-engage at-risk users.
- Increased customer lifetime value: Retaining users longer by addressing their needs and concerns promptly.
- Improved user experience: Enhance satisfaction by providing timely and relevant interactions.
- Data-driven decision making: Utilize insights from predictive models to make informed marketing and product decisions.
How it works
Step 1: Set up data collection
Ensure you have at least 21 days of data collection with a minimum of 10,000 daily events.
Verify that the goal event (e.g., churn) has at least 200 true and 200 false occurrences over 30 days.
Examples of events that can represent churn:
Step 2: Create a lifecycle agent
Navigate to the Agents section in Intempt
Select "Create agent" and choose the target goal event representing user churn.
Configure the Agent.
Intempt will create an output attribute that stores prediction values for each user.
Step 3: Segment users based on lifecycle scores
Step 4: Design and implement retention strategies
For high-risk users:
Create a journey:
Set a trigger:
Add actions:
Schedule follow-up calls:
Add conditions:
Check follow-up call status:
Implement personalizations:
For medium-risk users:
Create a journey:
Set a trigger:
Add actions:
Offer loyalty rewards:
Add conditions:
Implement personalizations:
For low-risk users:
Create a journey:
Set a trigger:
Add actions:
Promote advanced features:
Add conditions:
Implement personalizations:
Step 5: Monitor and adjust strategies
Regularly review the effectiveness of your retention campaigns using Intempt's journey analytics.
Track user responses and adjust strategies based on the analytics data.
Continuously retrain your model with new data to maintain accuracy and relevance.