This chapter covers
- Creating a dataset that includes demographic or firmographic information
- Converting date information to intervals and analyzing the relationship to churn
- Analyzing text categories for the relationship to churn
- Forecasting churn probability with demographic or firmographic information
- Segmenting customers with demographic or firmographic information
You now know all about using customer behavior data to segment your customers for the purpose of creating interventions to increase engagement. These strategies are the most important ones for increasing customer engagement and retention, which is why they are the focus of the book. But one other way to reduce your customer churn is not about intervening with your existing customers: find new customers who are more likely to be engaged to begin with. Identify facts about customers who tend to be more engaged, and then focus your customer acquisition efforts on finding more customers like them. Such facts are generally known as demographic data (data about individuals) and firmographic data (data about companies). For the purpose of this discussion, I use the following definitions.