ClientSports betting company that stands out among other online bookmakers as a reliable company that strives to create a long-term association with each customer. Although the company is relatively young, it is already trusted by almost one million active fans.
Challenge: reduce customer churn on a betting platformHundreds of betting websites offer their services to millions of fans who like to bet on sports online. The client spends large amounts of money to acquire new customers, that’s why it is more important than ever to prevent customer churn and turn new customers into loyal ones.The rate of customer churn directly affects the growth of the company. To keep that rate low marketing and IT department leaders are looking for a solution that can predict customer churn.
Solution: customer churn prediction softwareEssid Solutions was chosen for 3 main reasons:
- proved experience in building predictive analytics solutions
- proved experience in the betting and gaming industries
- readiness of Essid Solutions to customize its solution for specific needs of the client
- customer profile data: age, gender, location, time and date of registration
- historical data about clients activity at the betting platform: lifetime, current account balance
- customer recent activity: quantity of bets, sum of bets, number of gains and losses, amounts of gains and losses, frequency of deposits and withdrawals from the account, amounts of deposits and withdrawals from the account
- customer preferences: mobile app/ website, popular sports events/ specific sports events, sports preferences.
- the 1st model works ‘on the fly’ predicting the propensity of just registered user to bet at least once at the website
- the 2nd model predicts churn of new customers in the course of 3 weeks
- the 3d model predicts churn of a loyal customer in the course of 3 weeks
Result: better understanding of customer behaviour and higher customer retention rateEssid Solutions solution allows its customer to predict customer churn and take up necessary measures to prevent it. The company saw a 20% higher customer retention rate within the first three months after deployment of Essid Solutions solution.