A regional German newspaper faced high churn rates for its digital subscriptions.
To address this, a new department for retention management was created to increase the loyalty of its digital subscription base.
It was critical to establish a churn prediction model in order to identify potential churn drivers. The challenge was to develop a comprehensive retention management strategy, ranging from setting up the right database to defining the right organizational structure.
The retention management approach for this new department was developed through a series of workshops facilitated by our MyBase experts.
These workshop sessions were highly effective and generated a range of solutions.
The first workshop was about “setting the scene”. We started with an assessment of the current retention management approach, identifying strengths, weaknesses, and areas for improvement.
During the second workshop, we focused on “creating the future”. We developed a clear retention management approach for the future that included retention targets, customer segments, and retention measures. We proposed a customer segmentation strategy based on relationship duration, product type, and churn risk. To ensure effective retention management, our team defined specific measures along the customer lifecycle (I join, I use, I pay, I leave).
In the final workshop, our team “prepared the future”. We created an implementation plan detailing KPIs, tasks, milestones, deadlines, and responsibilities.
Our client leveraged these solutions:
Reduced the overall churn rate for its digital subscriptions by 2 percentage points.
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