Customer Churn Series [2/3]
Four key foundations for customer churn management
In this second short paper on the subject of customer churn, we turn to sectors that experience higher rates of churn, and the key building blocks which have to be set in place to manage (and reduce) customer attrition.
The first paper in this series looked at sectors such as supermarkets, general insurance and power utilities. Such industries are often highly regulated, and also experience lower rates of customer churn because each of us as consumers tends to have a singular relationship with one provider at any one time – or at least we have one principal supplier that we buy from.
This paper discusses four key foundations for customer churn management, the basic building blocks for manging churn effectively – especially in these higher churn sectors:
- non-food retail
- pet products
- beauty products
- pubs and hotels
to name a few
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