Description
How to identify customers who are dissatisfied with your product? How to understand what churning users need & provide them the right incentives? At GoPay we have created a marketing channel using incentive offers to bring back churning users. The key elements of our strategy are: 1. Identifying users who are most likely to churn 2. Providing the right incentives for the churning population
In this talk we will discuss our experience at GoPay on using incentives to win some churners back. The talk will have 4 components:
- Defining churn mathematically
- Modelling probability of a user churning in a given timeframe
- Finding the right incentives to bring back churned users
- Software infrastructure for the end-to-end process
We will also discuss some next steps we are developing:
- Experimentation framework to test custom incentive structures
- Moving from a fixed timeframe to a continuous monitoring system