Many companies are not doing enough to predict and prevent customer churn, leading to preventable financial losses. Acquiring a new customer costs five times more than retaining an existing one, yet many businesses neglect churn prediction strategies.
According to Accenture, companies lose 1.6 trillion dollars annually due to customer churn. Yet, research conducted by McKinsey indicates less than 30% of companies use predictive analytics to anticipate churn.<
Companies should invest in advanced churn analytics and personalized retention strategies. Don't let churn be your silent profit killer.
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