How We Used Predictive Modeling to Retain At-Risk Customers for RevLocal
Our client, RevLocal, is a digital marketing agency that provides personalized digital marketing strategies for small businesses. Though serving a large, diverse suite of high-profile customers, they were experiencing a higher-than-desired customer churn rate, resulting in significant financial impact.
A Need to Predict Customer Behavior
They were looking for a way to anticipate when and why customers might leave before they actually leave, allowing more opportunities to “rescue” and retain these “at-risk” customers with targeted content and agent interactions.
RevLocal determined a predictive analytics model could help them measure the probability that a customer will leave in the near future. They could use this model to identify at-risk customers and address contributing factors. But to develop this predictive model, they needed the help of a partner. Aware of Centric Consulting’s deep experience with machine learning and predictive analytics, they sought our expertise to help them retain more customers, and in turn, increase their revenue.