Customer segmentation or Market Segmentation helps a company to segment or divide its customers in different groups relevant to the business. The key to any Customer Segmentation is to divide the customers into groups based on prediction on their value to the company and target each group with different strategy to maximize the profit or ROI.
To develop and maintain predictive solutions that scores all live accounts (meeting certain criteria*) in the portfolio every month on their propensity to get disconnected or bankrupt in the next six months time. This information is then used by the collections function for optimal collection efforts.
Customer Churn or Customer Attrition analysis is one of important business activities for Banks, Telecom companies , Retails firms, financial services institutions and Insurance companies for single most important reason that cost of acquiring a new customer is far greater than cost of retaining an existing customer.
Our client, a leading BPO company focusing on collection and retention services in the domestic market, was working on retention of consumers for a large insurance company.
Our clients, a leading auto financing company in the United States was growing its portfolio inorganically through acquiring small and medium sized portfolios.