Customer Life Cycle and Customer Retention Management

Customer Life Cycle is typically has 3 phases –Acquisition, Growth and Retention. Customer Acquisition: Focus is targeting & reaching out to prospects, explaining them about the products and services and on-boarding the customers. Customer Development/Build/Growth: In this phase organizations leverage the existing relationship for growing the engagement with newly acquired customers or existing customers. So, ... Read more

Segmentation-a-perspective

Segmentation is one of the old concepts being used across fields and by non-technical people. People are segmentation at least into two groups “Male” and “Female” based on gender characteristics. Now let’s try to understand these two segments better. These two segments will be very different on a few characteristics (that are variables in analytics ... Read more

Predictive Modeling: Customer Attrition and Retention Scenario for Financial Services

Author: Ram and Amitayu   It is well established now that retaining an existing customer is a lot easier than acquiring a new customer. Typically, acquiring a new credit card customer cost $50-$80. Surprising though, a lot of banks and financial services organizations still focus a lot more on customer acquisition programs. It could be ... Read more