Customer Churn Excel Dashboard

Customer Churn Excel Dashboard

Effectively understanding and managing customer churn is essential for any business. This new customer churn dashboard offers comprehensive insights into customer behavior, enabling strategic actions to boost retention. 📊

Analysis of Customer Churn Dashboard

Key Insights:

1. Over 1750 customers have churned.
2. The churn rate is 26.86%.
3. The most common reason why customers churn is related to "Competitors" for two main reasons:
   • Better devices.
   • Better offers.
4. Seniors group "65 years or more" have the highest churn rate almost 40%.
5. Customers aged between 79-88 only make up a small percentage of the customer base, but have the highest churn rate almost 44%.
6. Customers who consume the lowest amount of data are likelier to churn at almost 35%.
7. The state of "California" has a high percentage of churners almost 75%.
8. Customers between the third and fourth-year mark are much more likely to churn on a "One-Year Contract" compared to a "Two-Year Contract":
   • One-Year Contract: 20.83%
   • Two-Year Contract: 2.86%

*Strategic Recommendations:

1. Enhance Support Expertise

   • Action: Improve training programs for both phone and online support teams.
   • Reason: The dashboard highlights poor expertise of phone support (3.40%) and online support (3.34%) as significant reasons for churn.

2. Expand Self-Service Options

   • Action: Invest in the development of comprehensive self-service tools on the website.
   • Reason: Lack of self-service on the website is a notable churn reason (3.84%).

3. Competitive Pricing and Offers

   • Action: Reevaluate pricing strategies and introduce competitive offers.
   • Reason: High churn rates are observed due to competitors making better offers (16.87%) and offering higher download speeds (16.54%).

4. Upgrade Data Plans

   • Action: Offer more attractive data plans tailored to high data users.
   • Reason: Customers with higher data needs have higher churn rates. Specifically, customers with more than 10 GB data usage show significant churn.

5. Target Younger Demographics

   • Action: Create marketing campaigns and service enhancements targeting younger age groups (19-38).
   • Reason: The age group analysis indicates higher churn rates among customers aged 19-28 and 29-38.

6. Improve Network Reliability

   • Action: Invest in improving network infrastructure to enhance reliability.
   • Reason: Network reliability issues contribute to churn (4.06%).

7. Monitor Competitor Strategies

   • Action: Regularly analyze competitor activities and adjust offers and services accordingly.
   • Reason: Competitors' better devices (11.30%) and more data offerings (6.85%) are leading to customer churn.

8. Implement Robust Feedback Mechanisms

   • Action: Set up detailed feedback collection processes to understand customer pain points better.
   • Reason: Direct customer feedback can help identify and resolve issues before they lead to churn.

9. Personalize Customer Engagement

   • Action: Use customer data to personalize interactions and offers.
   • Reason: Personalized engagement can reduce churn by addressing specific customer needs and preferences.

10. Regular Dashboard Reviews

    • Action: Schedule monthly reviews of the Customer Churn Dashboard to stay updated on trends.
    • Reason: Continuous monitoring will help in making timely adjustments to retention strategies.

By addressing these key areas, businesses can effectively reduce churn rates, enhance customer satisfaction, and ultimately drive growth and profitability.