Churn management software
Most people are unaware that roughly 65 percent of a company’s business is derived from its existing customers. In addition, for almost all businesses, it costs five times as much to earn a new customer than it does to keep an existing one. Given these eye-opening statistics, wouldn’t it make sense for businesses to focus on optimal customer retention? The best way to accomplish this daunting task is to use churn management software, which is a proven platform that can analyze your customer’s transactional history to identify customers that are likely to leave you. By using sophisticated machine learning algorithms, the software can study patterns of behavior that result in customer loss. The ultimate result of using a customer retention software like Spyglaz is an efficient and profitable business with less customer churn.
Key Benefits of Churn Management Software
There are many direct benefits to implementing churn management software across your business. The feature that most companies like best is that the customized algorithms can generate a probability score that helps you determine who the high-risk customers are, which ultimately allows you to focus your retention efforts in a more efficient way. The additional advantages to using a customer retention platform include:
- Provides Clear Strategic Focus: Our platform offers a clear path to addressing customer retention.
- Saves Time and Money: When your company uses effective churn management software, you will be able to save money on targeted promotions and nurture campaigns by focusing on those customers most likely to churn.
- Promotes Optimal Reporting: A customer retention platform like Spyglaz is designed to offer a higher level of reporting around key customer purchase metrics.
- Delivers Actionable Insights: All customers are assigned a churn probability score correlated to sales value, enabling targeted follow-up with high-risk/high-value customers first.
- Enables Retention Ownership: One of the primary goals of churn management software is to help you easily focus your business on customer retention.
- Easy CRM Integration: Data is easily integrated into your existing CRM platform to further help guide individual customer strategy.
A Secure Cloud Solution That’s Easy to Adopt
Spyglaz is hosted on the Microsoft Azure platform and all data is stored within a US location. Multiple levels of encryption secure data within the cloud provider’s infrastructure and within the application itself. Furthermore, our platform only accepts personally non-identifiable data (PNI), which is data that does not contain any specific identifiers of your customer’s personal information. Our goal is to deliver actionable insights on a secure platform that’s easily adopted to help grow and retain your customer base.