How to Leverage AI to Prevent Churn and Increase Revenue Retention (webinar recap)
Customer churn is one of the biggest and most expensive problems for many SaaS companies. But churn is not unstoppable.
With the right strategies and tools, firms will be able to predict customer renewal sentiment and proactively prevent churn.
And the best part? It starts with the data that your company already has.
To optimize data and uncover prescriptive insights, Saumya Bhatnagar - CPO and Co-founder at involve.ai, walked us through 5 critical steps:
Map your customer journey (identify the data story and its implications)
Identify data sources and string them together (data wrangling & data mapping)
Analyze data through the right lens (clustering, correlations, normalizing)
Configure the model for your business (understand the impact of features in each customer journey milestone)
Run and validate the model
Build off your data & remove any biases
AI can help you predict customer actions & sentiments months in advance so that you can serve your customers better
involve.ai can predict churn 3 months in advance with 90% accuracy, as the AI continues to grow/receive feedback
Expansion revenue is identified with 70% accuracy
About Our Speakers
Saumya Bhatnagar, CPO and Co-founder involve.ai, is a Forbes 30 under 30 alum, winner of the Stevie Gold Entrepreneur of the Year award, and recognized as the 50 Most Powerful Women in Tech by the National Diversity Council. She is an experienced Software Leader with a demonstrated history of positive project outcomes. Saumya holds a Master's in Computer Science from the University of California, Santa Cruz with a focus on Natural Language Processing.
Shashi Bellamkonda is the VP of Marketing at involve.ai. He is known by many as the “social media swami”, and is a marketing leader who has worked with many entrepreneurs and local businesses and taught Digital Marketing Strategy and Marketing Analytics at Georgetown University as an adjunct professor. Shashi has been called the most customer-obsessed marketing leader and continues to educate himself on technology.