This article covers how to determine which customers are likely to churn based on their spend with you.
A common use case that revenue teams want to address is how they can identify customer that are likely to churn so that they can take actions to intervene. To this end, you may ask, how can Rev.Up help me identify customers that are likely to churn and prevent them from doing so.
What capabilities does Rev.Up have to help me identify customers that are likely to churn?
A common way to identify customers that are likely to churn, is to use product purchase data to determine which customers have been reducing their spend with you over time. An example of how this use case can be implemented is shown below:
Configure product spend profile attributes to create advanced insights and target accounts who are declining in spend
% Spend Change
This attribute is calculated by comparing average spend for a given product of the account in a specified time period to that of its specified prior time period.
When used in a segment % Spend changed can be used to target accounts that are decreasing their spend with you.