Can customer loss be predicted and prevented? Our proprietary algorithms say “yes,” enabling Attrition Risk Modeling that predicts which core customers are at the greatest risk of lapsing.
That enables you to take the appropriate steps to mitigate attrition before customers lapse. The result is a reduced churn rate among high-value customers and a long-term increase in share of wallet.
There are a lot of reasons for customer attrition, many of them beyond your control. The good news is that your customer file contains a significant number of people who, while no longer active, could be reactivated to begin purchasing from you again.
To do that requires answering some important questions: Are they still active in your category? Were they high-value customers in the first place? Which inactive customers are worth the investment of further marketing efforts and which are not?
That’s where Wiland’s unsurpassed consumer spending data and AI-driven response prediction platform come in. We help you identify the high-value lapsed customers most likely to begin spending with you again. That’s because we are able to observe these consumers’ total spending behavior across numerous categories. So we can identify the ones you should continue to pursue in order to grow your recurring revenue.
Customer reactivation can be far less expensive than new customer acquisition, so this represents a substantial, high-ROI revenue opportunity for most brands.
Whether you need to retain more of your ideal customers or reactivate the ones who have wandered off, we’re here to help.
For even more solutions, please contact a Wiland representative today.
Let us show you how you can affordably retain and reactivate profitable customers to drive more revenue.