Case Study: How I helped a Tech Healthcare company control their escalating churn rate

Churn rate, also known as customer churn is a crucial parameter for any business’s success.

It measures the rate at which your existing customers are dropping off your products.

We use this formula to calculate it:

Churn Rate = (Number of customers at the beginning of a period - Number of customers at the end of a period) / Number of customers at the beginning of a period

A quickly escalating churn rate is among the worst things that can happen to a new business. It can lead to:

• Huge Revenue Loss

• Massive Reputation Damage

• Increased Customer Acquisition Cost

My client’s situation was also pretty similar…

Here’s the full case study of how I helped them identify at-risk customers and reduce their churn rate by 15%:

Challenge

A fast-growing tech healthcare company was facing its biggest challenge yet:

Escalating Churn Rate

Despite trying their best, they were unable to identify and intervene with at-risk customers before they dropped off their products.

The challenge was clear:

They needed a more sophisticated, data-driven approach to anticipate and manage customer churn.

Action

After we started working together, I started studying the already present systems and processes.

I got some crucial details and with their help, we started developing a predictive churn model.

This model integrated:

Customer behavior metrics + Purchase history + Engagement data

All into a single platform.

After implementation, this model was employed to generate risk scores for each customer, thereby enabling early interventions.

Result

The Salesforce Automation-driven predictive churn model had an immediate and profound impact.

In just one year of implementation, the client observed a 15% reduction in their churn rate.

Moreover, the predictive model successfully flagged 30% of customers who were at risk.

This allowed them to deploy targeted and proactive retention strategies, thus enhancing their customer relations and retention.

Overall, this project was really interesting.

I feel I became better at my job after delivering results for this client.

That’s it for this issue.

If your business needs massive changes and you’re ready for it, book a free consultation call with me: https://calendly.com/jordanqnelson/25min

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Thanks for reading.

Jordan