Proactive Account Management with Churn Prediction & Recommenders

18 January 2018

Proactive account management means that events and opportunities are predicted so that customer engagement and service offerings can be optimised.

When implementing a proactive approach, questions your account management team should be considering:

  • Which accounts are most likely to leave?
  • Which customers have a very high probability of buying additional products?
  • What products should I recommend to potential leavers?

It's worth remembering that all the problems do not need answering at once. It is not necessary to launch a programme with large investment project teams, CRM and IT infrastructure. At Algospark, we generate insights from data and then develop rapid prototypes to fast track value from artificial intelligence solutions.

How does this approach work with the proactive account management questions?

  • Which customers are most likely to leave? This link shows an example of a churn management solution uses a Value at Risk (VaR) approach to prioritise client contact.
  • Which customers have a very high probability of buying additional products? This link shows an example of customer centric product recommendation. It uses a hybrid collaborative filtering approach to determine the products with the highest chance of purchase.
  • What products should I recommend to potential leavers? The solutions above can be combined so that customer management teams have a script that is highly personalised to the client in terms of behaviour and preferences.

The links above and other sales, product and process solutions can be found here: https://algospark.com/#sales

Getting proactive does not need to be difficult! Get in touch to discuss further.

 

7 May 2023

Applied AI drives your innovation and transformation agenda

What is applied AI to you? Applied AI drives innovation in organizations. It identifies new opportunities and drives process efficiency. We are …
7 May 2023

Finance and analytics: moving from good to great

How do you forecast? How do you track how accurate your predictions are relative to actual results and what do you do …
Contact
+44 207 558 8728
info@algospark.com
3rd Floor, 207 Regent Street
London, W1B 3HH. UK
Interested in working in analytics and applied AI? Contact us at careers@algospark.com
Details on our data security and management policies here.
This site uses Google Analytics. Google collects cookies for tracking.