Multi-State Churn Analysis With a Subscription Product

Details

This is a joint online event of Vienna Data Science GroupFrankfurt Data ScienceBudapest Data Science MeetupBCN AnalyticsBudapest.AIBarcelona Data Science and Machine Learning MeetupBudapest Deep Learning Reading Seminar and Warsaw R Users Group.

SPEAKER

Marcin Kosiński has a master degree in Mathematical Statistics and Data Analysis specialty. Challenges seeker and devoted R language enthusiast. In the past, keen on the field of large-scale online learning and various approaches to personalized news article recommendation.Community events host: organizer of Why R? conferences whyr.pl. Interested in R packages development and survival analysis models. Currently explores and improves methods for quantitative marketing analyses and global surveys at Gradient Metrics.

https://www.linkedin.com/in/marcin-kosi%C5%84ski-81435aab/
http://r-addict.com/About.html

TOPIC

Subscriptions are no longer just for newspapers. The consumer product landscape, particularly among e-commerce firms, includes a bevy of subscription-based business models. Internet and mobile phone subscriptions are now commonplace and joining the ranks are dietary supplements, meals, clothing, cosmetics and personal grooming products.
Standard metrics to diagnose a healthy consumer-brand relationship typically include customer purchase frequency and ultimately, retention of the customer demonstrated by regular purchases. If a brand notices that a customer isn’t purchasing, it may consider targeting the customer with discount offers or deploying a tailored messaging campaign in the hope that the customer will return and not “churn”.The churn diagnosis, however, becomes more complicated for subscription-based products, many of which offer multiple delivery frequencies and the ability to pause a subscription. Brands with subscription-based products need to have some reliable measure of churn propensity so they can further isolate the factors that lead to churn and preemptively identify at-risk customers.During the presentation I’ll show how to analyze churn propensity for products with multiple states, such as different subscription cadences or a paused subscription. If the time allows I’ll also present useful plots that provide deep insights during such modeling, that we have developed at Gradient Metrics – a quantitative marketing agency.

WEBINAR REGISTRATION LINK: https://bit.ly/2BEo3Rr

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