Stop them leaving you
Customer churn or attrition can lose your organisation revenue for two straight forward reasons. Firstly the loss incurred when that customer ceases to trade or subscribe with the business and the marketing budget spent in order to acquire them. Next the subsequent budget required to replace them.
Therefore identifying through predictive analysis whether a customer is likely to leave is brilliant for saving time, money and resources. Retaining an existing customer is less expensive than the spend required to attract a new one.
It is also better to develop accurately targeted retention offers or discounts for the identified segment. It is simply a waste to give a discount to a larger portion of your database than necessary or those customers who are a low flight risk.
If they have already left and are inactive is it worth winning them back? Or are you better off cutting your losses with that customer. If it is worthwhile pursuing them, you can determine what that customer is likely to need in order to return, their value to your business and make a sound judgement.