Predictify

12/04/2022

DID YOU KNOW… It takes just 5 factors to predict when your customers will leave you.

And if you can predict which customers are likely to leave your business you can start taking action before it’s too late.

Through your own data, you can easily group different types of reasons why your customer leaves you. Thereby you can target specific actions to their dissatisfaction and prevent them from leaving.

We often spend much more time and money on attracting new customers than ensuring to keep the ones we already have. Maybe it should be the other way around…

A customer you have had for 1 year vs. 1 month is much more loyal and therefore much more robust concerning any dissatisfactions. And therefore, a customer that is worth more.

Based on 1st party data and just 5 factors we can make a strong prediction on when your customers will leave you.

Factors impacting churn:
• Interactions with support
• Changes in basket size
• Billing - Frequency / credit card expired
• Distribution errors
• Lifetime

Predicting churn through these simple phases:
Data: Utilize your 1st party data – easy access and probably data which you are already working on
Modelling: Use a transparent machine learning model - understand which factors affect churn
Testing: A/B test - easy to measure
Implementing: Complete the first three phases, then the implementation is simple

If you would like to learn more about key insights on predicting churn reach out to
Jesper Dam Nielsen, Tommi Grønkjær Christiansen, Kristian Vejborg, Jeppe Thierry Alken at Predictify,

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12/04/2022

DID YOU KNOW… you can predict the sales impact from your 2022 marketing plan.

Realistic sales predictions and ambitious marketing goals are vital for achieving success from your activities in 2022. Did you know you can get answers and feedback on your sales and marketing objectives by applying “The Predictify Platform”?
Without clear sales predictions and quantification of market dynamics, the company’s CFO will likely play a large role in deciding the size of the marketing budget for the upcoming year. And this probably means doing the same things as last year… (+/- a few percentages 😊)
Instead, you should proactively take action to find and use tools like The Predictify Platform to estimate and visualize the sales effect and ROI on all planned activity – Paid, Owned, Earned – Online/Offline. And to predict a course of action if your marketing budget increases or decreases.
The Predictify Platform will answer questions like:
• What is the optimal marketing budget for 2022?
• Do we have the right balance between promotion and branding campaigns?
• Which activities will generate the largest sales effect?
• Should we allocate more budget to digital media?
• What will the impact be if the competition increases marketing spending?
• How will our sales be affected if we cut back on some of our activities?
• What is the estimated impact if one of our products loses distribution in retail?
• What happens if we change our pricing?
The Predictify Platform is one of the core services at Predictify. The Platform is an interactive machine learning based modelling solution containing all factors impacting your business.
The Predictify Platform is updated continuously and used by the CMO all through the year, adjusting budgets and planned activities according to the current market situation.
If you would like to learn more about key insights on predicting the outcome from your marketing activities in 2022 reach out to Dam Nielsen, , , ,
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DID YOU KNOW…
• …Your opening rates will improve when predicting the effect from payday, time, weather…
• …Predicting new service features will increase loyalty and/or customer intake
• …We often forget to account for top funnel activities when evaluating our bottom funnel activities

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Predictify Consulting

11/04/2022

DID YOU KNOW…

…you can predict which new features or services is the best to refine your core product.

To be unique, most products consist of a number of additional services besides the core product offering.

Selecting and bundling these additional services can be very complex but also highly profitable.

To optimize the outcome we must apply conjoint analysis and value-based pricing.

Many businesses offer products that can be refined by adding a feature or a complimentary service:
· A mobile subscription adding a 5 GB storage in the cloud
· A maintenance or insurance plan added to your car lease
· The union membership offering a favorable Falck subscription
· A newspaper subscription offering physical delivery on weekends and a digital version on weekdays
· An online shop offering free delivery to returning customers

The objective of launching new product features is to improve the overall business performance.

This can be accomplished by identifying asymmetry:
Asymmetry in customers' value perception on one side and the company's cost perspective on the other.

The point is… “look at what you offer and if it is aligned with your customers' needs and expectations”

Finding out which elements have a great value to the customer and a small cost to the business should be turned into happier, more loyal, and thereby more profitable customers.

If you would like to learn more about predicting which features or combo of features are the best to refine your core product in 2022 reach out to Jesper Dam Nielsen, Vejborg, Tommi Grønkjær Christiansen, Jeppe Thierry Alken at Predictify

Look out for our upcoming posts that will offer you knowledge on:

DID YOU KNOW…
· We often forget to account for top-funnel activities when evaluating our bottom-funnel activities
· You can monitor your competitors in real-time by using "share of search"

Follow Predictify for upcoming posts.