Success Story BFSI

Asset Management Company Analyzes Churn to Retain 50% of Passive Customers

Strategies to Stop Churn

Churn is a significant concern for companies, where an increase in rate indicates problems that need immediate attention.

Companies must consistently monitor churn rates to identify which customers are likely to drop off and why. Only accurate and relevant analysis can deliver insights into churn rates. The customer, an asset management company, wanted to analyze their churn rate to come up with a robust intervention strategy.

The challenge

4 key areas

An in-depth analysis of the customer’s processes revealed various challenges:

Differentiate Churn Rates

Differentiate Churn Rates A need to differentiate likely active and passive churn rates, as well as pinpoint when it will likely occur

High Churn Rates

High Churn Rates High churn rate of ~8% per annum for high net worth individuals

Intervention Strategy

Intervention Strategy A need to formulate an effective intervention strategy

Lack of Engagement

Lack of Engagement Passive churn resulting from a lack of engagement