In most industries, customers are no longer bound to a single service or product provider. Competition between companies is high and every service or product provider continuously tries to find new customers to replace the ones who left. Ok, but why do the customers leave and is there a way to prevent it?

 

The answer is easy. They leave because they get more tempting offers from other providers. In most cases customers benefit when changing their provider because they are offered cheaper rates for the same service or offered more services for the same price. However, for the provider, this is not the ideal and preferred way of gaining customers, rather, it is the best for them to keep existing customers in the first place.

 

The way to achieve this is to identify customers that will leave and take steps to avoid the possible churn. Predy is the perfect tool to reveal the patterns that lead to customer churn. Every customer may have his/her own reasons to switch providers, however, when thousands of customers are considered for a specific provider, there are certain patterns that end up with churn and each customer falls into one of the several churn patterns. With Predy, companies can find out the patterns specific to their own customers and this helps them treat each and every single churn case personally in a timely manner.