The Churn Risk use case is designed to help identify and mitigate the risk of losing valuable customers. The AI Assistant leverages insights from the Sales Insights and Customer Insights modules to detect patterns and trends that indicate a high risk of churn. Here’s how it works:
Detection: The AI Assistant monitors customer behavior and revenue trends over a defined period. For example, it can track the revenue generated by customers over the last 24 months and compare it to the previous 12 months. If there is a significant decrease in revenue, it flags this as a potential churn risk.
Actionable Insights: Once a churn risk is detected, the AI Assistant generates actionable insights. It creates an action item for the responsible sales representative, alerting them to investigate the churn risk. The action item includes details such as the customer group, the specific revenue trend, and the due date for follow-up.
Proactive Measures: The sales representative can then take proactive measures to address the churn risk. This might involve reaching out to the customer to understand their concerns, offering incentives, or improving the overall customer experience to retain their business.
By focusing on churn prevention, the Pricefx AI Assistant helps maintain a healthy and sustainable business by retaining existing customers, increasing revenue, and building long-lasting relationship