Customer churn affects companies across industry, size, and geography. Retaining your existing customers is just as important (if not more so) than attracting and acquiring brand new customers. According to Harvard Business Review, the cost to acquire a new customer is anywhere from five to 25 times more expensive than retaining an existing one. Businesses today can use the power of AI to help determine which customers are more likely to churn, and what actions to take to keep them. Armed with this knowledge, retention efforts can be prioritized to focus on the most at risk customers.
In this webinar, Colin Priest, Data Scientist and Senior Director of Product Marketing at DataRobot will address specific use cases for applying AI to ensure customers remain loyal.