An Integrated Framework to Recommend Personalized Retention Actions to Control B2C ECommerce Customer Churn

An Integrated Framework to Recommend Personalized Retention Actions to Control B2C E-Commerce Customer Churn

  IJETT-book-cover  International Journal of Engineering Trends and Technology (IJETT)          
  
© 2015 by IJETT Journal
Volume-27 Number-3
Year of Publication : 2015
Authors : Shini Renjith
DOI :  10.14445/22315381/IJETT-V27P227

Citation 

Shini Renjith"An Integrated Framework to Recommend Personalized Retention Actions to Control B2C E-Commerce Customer Churn", International Journal of Engineering Trends and Technology (IJETT), V27(3),152-157 September 2015. ISSN:2231-5381. www.ijettjournal.org. published by seventh sense research group

Abstract
Considering the level of competition prevailing in Business-to-Consumer (B2C) E-Commerce domain and the huge investments required to attract new customers, firms are now giving more focus to reduce their customer churn rate. Churn rate is the ratio of customers who part away with the firm in a specific time period. One of the best mechanism to retain current customers is to identify any potential churn and respond fast to prevent it. Detecting early signs of a potential churn, recognizing what the customer is looking for by the movement and automating personalized win back campaigns are essential to sustain business in this era of competition. E-Commerce firms normally possess large volume of data pertaining to their existing customers like transaction history, search history, periodicity of purchases, etc. Data mining techniques can be applied to analyse customer behaviour and to predict the potential customer attrition so that special marketing strategies can be adopted to retain them. This paper proposes an integrated model that can predict customer churn and also recommend personalized win back actions.

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Keywords
Business-to-Consumer (B2C) E-commerce, Customer Churn, Predictive Analytics, Cluster Analysis, Personalization.