How do you put a number on churn risk?
Predictive models can score every customer.
Marley Spoon, Martha Stewart's meal delivery company, operates on a subscription model — making retention a focal point of their growth strategy. Higher churn rates were making it more difficult to cover acquisition costs and scale revenue, and Marley Spoon wanted a better approach to churn prediction than traditional rules-based segmentation.
With Faraday, they were able to do just that. Faraday created a churn prediction model using a combination of first- and third-party data, and a comparison of Marley Spoon’s traditional approach to the Faraday churn model revealed a 5X improvement in churn prediction when using the predictive model.
Download the full case study for an in-depth look at Marley Spoon's story.
How do you put a number on churn risk?
Predictive models can score every customer.
Marley Spoon, Martha Stewart's meal delivery company, operates on a subscription model — making retention a focal point of their growth strategy. Higher churn rates were making it more difficult to cover acquisition costs and scale revenue, and Marley Spoon wanted a better approach to churn prediction than traditional rules-based segmentation.
With Faraday, they were able to do just that. Faraday created a churn prediction model using a combination of first- and third-party data, and a comparison of Marley Spoon’s traditional approach to the Faraday churn model revealed a 5X improvement in churn prediction when using the predictive model.
Download the full case study for an in-depth look at Marley Spoon's story.
5X lift
Faraday's predictive model was five times more accurate than Marley Spoon's old method of identifying churn risk, allowing them to better personalize outreach and prevent lost revenue.
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