Using a customer segmentation strategy for better customer retention

Find out the best way to use a customer segmentation strategy to design a retention model that allows you to hold onto current customers and provide good customer service.

I want to design a CRM campaign wherein I want to retain a customer (i.e., persuade the insurance policy holder to not let her policy expire). How can I prioritize my calls? Can I use a customer segmentation strategy to target my calls and, if so, how can this be achieved?

A customer segmentation strategy may assist in targeting the right customers for retention. But it requires in-depth modeling to identify the right retention model. There are too many details to share in such a short answer. But you may want to start in a simple way. Search for all the customers who are up for renewal and check their customer service file to see if they had a problem with the company in the last 12 months. These are the top customers who may be in danger of leaving. Design a program to get them to stay while recognizing the difficulty they experienced.

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