Wouldn’t it be great if you could reduce churn and acquire new customers with the same methods? Wouldn’t it be even better if you delivered better experiences and cut your marketing and sales costs at the same time?
Churn management and customer acquisition are both about sales. Typically, though, they are handled with very different approaches and often by different parts of an organization. Research proves – and most companies agree – that it is cheaper (some say six times cheaper) to keep existing customers than to acquire new ones. Companies are currently wasting too much money on acquiring customers just because of the way they organize themselves.
At Avaus, we have worked hard to improve customer retention for our clients. We typically seek answers to the following questions:
- What type of customers are churning and why?
- Can we predict who are leaving and when?
- How can we build loyalty, prevent the risk of churn becoming reality, rescue as many as we can, and win back the lost ones?
- How can we automate all of this?
Measuring churn is quite different from measuring new business. It takes time and patience before you see the results. After that, it’s all about optimizing, improving and learning.
Once you learn how to manage retention, you will improve your business and get smarter at the same time. You will know the main reasons that customers decide to leave, who are most likely to leave, and what you should be doing to tackle it. Similar motives and patterns might apply to your competitors’ customers as well. What if you could use your insight and tactics to also reach those consumers – and only those consumers?
Avaus has developed methods for intelligent, targeted customer acquisition. We will build upon your existing data and create clones of selected customer groups. We can find people similar to your most valuable customers or the ones with the highest churn risk. After that, we will go after them in digital channels in a very targeted way. As we are only searching for new customers, we will exclude your current customers from these activities, since you probably have more relevant messages for them. The larger your current customer base, the more you will save on your media spend.