“A small improvement in retention can significantly boost profits.” That’s the reason to make churn prediction tools or services a part of our tech stack.
Here are twelve different churn prediction tools that you can choose in 2024, offering deep insights into customer behavior, enabling businesses to identify at-risk customers early and take proactive steps to retain them.
- Churnly
- Vitally
- Churnfree
- Planhat
- UserMotion
- GainSight
- Akkio
- Qualtrics CustomerXM
- Journy.io
- ChurnZero
How Churn Prediction Works?
Churn prediction models play a pivotal role in enabling businesses to manage and reduce customer churn by identifying early signs of churn and predictive algorithms.
These models rely on a combination of key signals, historical churn insights and AI-driven predictive analytics to forecast potential churn. Here are the components and how they contribute to the effectiveness of churn prediction:
- Key signals: These are specific behaviors or patterns of activity that indicate a customer may be considering abandoning your service or product.
Key signals may include a decrease in usage, change in purchase behavior, negative feedback, or a drop in subscription renewals. By identifying these signals early, businesses can take preventative steps to engage with the customer and address their concerns. - Historical churn insights: Analyzing past customer churn patterns provides invaluable data to understand why customers leave.
This involves examining the characteristics and behavior of customers who have left in the past to identify commonalities or trends. Such insights allow companies to improve their forecasting models and better target at-risk customers with personalized retention strategies. - AI-driven predictive algorithms. : At the heart of churn prediction software are advanced algorithms that process large amounts of data to predict churn risk.
These models use machine learning to detect complex patterns and correlations between various factors and churn. By learning from historical data, AI models can predict with significant accuracy which customers are most likely to leave, enabling businesses to intervene with tailored solutions.
Why Churn Prediction is Important?
Effectively implementing customer churn prediction requires a strategic approach that encompasses not only the technical aspects of building predictive models, but also understanding customer behavior and business objectives. Integrating churn forecasting into a comprehensive customer relationship management (CRM) strategy increases its effectiveness by enabling businesses to:
- Target engagements more effectively: By knowing which customers are at risk, companies can focus retention efforts more efficiently and allocate resources to those most likely to churn.
- Personalize customer experiences: Insights from customer churn prediction enable businesses to tailor their communications, offers and services to meet the specific needs and preferences of each at-risk customer, thereby increasing the likelihood of retention.
- Optimize retention strategies: Continuous learning from churn prediction results helps businesses refine their retention strategies over time, ensuring they remain relevant and effective in meeting the changing needs of their customer base.
12 Churn Prediction Tools
Knowing the importance of this model, you might prioritize (and you should) your churn prediction strategy. For different business needs and values, I collected 10 churn prediction tools that can assist you in effectively forecasting and minimizing customer churn.
These tools vary in complexity, features, and approaches but all aim to provide valuable insights that can help businesses reduce churn rates. Some are already very popular but here’s a look.
1. Churnly
Churnly stands out as an AI-driven customer churn analytic that offers an invaluable tool for B2B SaaS companies. By using the power of data-driven insights and predictive analytics, it equips Customer Success Managers with the knowledge to not only save at-risk customers, but also significantly reduce churn risks.
By tracking the entire customer journey, Churnly delivers 92-96% predictive accuracy, enabling businesses to proactively address and mitigate customer churn.
Why to choose?
- It let you know weeks in advance which customers are likely to leave.
- Provides you with the data you need to take action and intervene before your customers leave.
- Spots revenue at risk and increase customer lifetime value.
Pricing
Churnly doesn’t have a transparent pricing page. They allow requesting a demo and contacting sales.
2. Vitally
Vitally is a customer success productivity tool that helps you surface and identify customers at-risk of churn with dynamic Health Scores that measure every point of the customer journey.
It helps prevent customer churn through a comprehensive approach combining data collection, analysis and team collaboration.
Why to choose?
- Vitally provides Note Templates to create a standardized process for documenting customer churn requests.
- Within these notes, team members can tag each other to collaborate on strategies to prevent an account from churning.
Pricing
The platform offers three pricing tiers: Tech-Touch, Hybrid-Touch, and High-Touch. Pricing is available upon request.
3. Churnfree
Churnfree offers a way to address the problem of customer churn by enabling businesses to create customized cancellation flows.
These flows are designed to attract customers who are considering canceling and provide special offers or solutions that can convince them to stay with the service. The goal is to improve customer retention, thus maintaining or increasing the company’s revenue.
Why to choose?
- Churnfree provides custom flows so that businesses can design and implement custom flows that are triggered when a customer is at risk of churn.
- Churnfree can be integrated with a variety of payment processors.
- It offers real-time analytics, enabling businesses to track the effectiveness of their retention strategies and gather feedback from customers.
- The design and user interface of Churnfree is simple, allowing businesses to set up and manage their retention flows without the need for specialized development skills.
Pricing
It offers four pricing tiers and includes a 14-day free trial. Pricing starts at $49/month and goes up to $199/month, with custom pricing available.
4. Planhat
Planhat is a customer success platform, but can also be identified as churn prediction tool, designed to help businesses reduce churn and ensure customer satisfaction. It offers tools to identify and address the needs of unhappy customers, track usage trends, and create health scores.
With features such as real-time data visualization, early warning systems with alerts and triggers, and customizable health scores, Planhat aims to enable proactive customer management and encourage long-term customer relationships.
Why to choose?
- Planhat provides a bird’s-eye view of customer activities, churn risks and required actions.
- It has a user-friendly interface with customizable tables, views, and a quick global search bar.
- Planhat provides interactive portals for direct customer engagement and feedback.
- It has features like powerful data modules, workflows, and revenue modules for comprehensive reporting and insights.
Pricing
Planhat offers three pricing plans, all of which accommodate unlimited users. To get specific pricing details for each plan, contact Planhat’s sales team directly.
5. UserMotion
UserMotion is an AI-powered predictive lead scoring software designed to enhance sales and marketing strategies by identifying revenue opportunities before they slip away.
It helps in churn prediction and improving revenue generation by uncovering high-intent accounts in the sales pipeline and also identify easy signs of churn with signals and real-time notifications.
Why to choose?
- UserMotion uses self-learning predictive scoring algorithms that refine their accuracy over time based on user behavior.
- It provides instant notifications about critical customer activities, enabling timely responses to their needs, risks, and opportunities.
- Through its predictive algorithms, UserMotion show early signs of churn among users, enabling proactive measures to retain them.
- It offers a straightforward, no-code setup process, making it accessible for teams without technical expertise.
- It offers customer success and sales playbooks to provide step-by-step guidance.
Pricing
It offers three pricing tiers for different business needs, from growing teams to larger organizations. Pricing start at $399/month and goes up to $899/month, with enterprise solution available.
6. GainSight
GainSight is another churn prediction tool, that actually serves as a customer success platform with churn prediction capabilities within its comprehensive toolset.
With focused customer success tactics as well as data-driven insights, GainSight helps companies protect and expand their customer base.
Why to choose?
- Users find Gainsight easy to navigate and quick to deliver value, even for new users
- The dashboard capabilities offer a clear view of account health scores and information.
- It is highly capable to manage renewals and track customer health.
- Its features like the Rules Engine and Data Designer offer advanced options for automating processes and analyzing customer data.
Pricing
Gainsight offers three pricing tiers for various business sizes and customer success goals. Detailed pricing information for each tier is not directly available and requires contacting Gainsight’s sales team.
7. Akkio
Akkio is designed for agencies to enhance their services with AI-driven analytics and predictive modeling. This platform enables businesses to interact directly with their data in a conversational manner, generate live visualizations like charts and graphs, and forecast future trends simply by asking questions.
It predicts customer churn by using a machine learning model trained on a dataset. Like others, it uses a dataset, like the one shown for telecom customers, to predict whether a customer is likely to stop using the service, which is referred to as churn.
Why to choose?
- Akkio uses a type of artificial intelligence that can automatically test different predictive models to see which one works best with your data.
- It’s model learns from the latest information and update their predictions.
- Agencies can instantly create customized dashboards for their clients’ data projects.
Pricing
The platform has two main pricing tiers for individual users and additional add-on packages for organizations. The plans designed for individual users starts at $49 per user/month and goes up to $99 per user/month.
8. Qualtrics CustomerXM
Qualtrics is a leading experience management software with the power of understanding and empathy to transform customer interactions into meaningful experiences.
It achieves churn prediction tool through its Customer Experience Management (CustomerXM) platform, integrating advanced features like Predict IQ™ and role-based dashboards to offer a comprehensive view of customer satisfaction and behavior.
Why to choose?
- Qualtrics CustomerXM leverages the concept of “empathy at scale,” enabling businesses to deeply understand their customers’ needs and experiences.
- With Predict IQ™, Qualtrics CustomerXM can identify customers who are at risk of churning by looking at behavior patterns, survey responses, and engagement levels.
- It has a role-based dashboards that provide personalized insights, enabling team members to take specific steps that contribute.
Pricing
The platform offers three different pricing tiers but their pricing is available upon request.
9. Journy.io
Journy.io positions itself as a platform designed specifically for SaaS companies to power their growth through data-driven and product-centric go-to-market (GTM) workflows.
One of journy.io’s core objectives is to overcome a common yet complex problem faced by many SaaS businesses: customer churn management. It connects with your data stack, enriches your data, applies behavioral analytics and identifies active signs of churn.
Why to choose?
- Journy.io offers comprehensive data integration, connecting with both your platform and CRM.
- The platform identifies specific churn risk signals through behavior analysis.
- It uses hyper-personalized engagement sequences.
Pricing
It uses a pricing strategy that can be adapted to the scale of your business, focusing on the concept of monthly active contacts (MAC). Pricing starts free for up to 200 monthly active contacts and goes up to $2000 per month for up to 100,000 MACs. For more, they offer custom pricing.
10. ChurnZero
ChurnZero is one of the leading customer success software designed to help businesses effectively manage and enhance their customer success strategies.
By providing health scores for each customer, ChurnZero enables businesses to quickly identify those who are at risk of churning. These scores are calculated using various metrics such as product usage, engagement levels, support ticket history, and customer feedback.
Why to choose?
- The platform sends alerts to the customer success team when there are significant changes in customer health.
- It offers in-app communications and walkthroughs, along with automations.
- The platform provides tools to monitor and increase product adoption.
Pricing
The platform doesn’t have a transparent pricing and it requires scheduling a demo to start the process.
Prevent Churn With Early Signs
While all these churn prediction tools offer similar capabilities and features under different concepts and methods, they all have a common goal: to predict and prevent customer churn.
As customer acquisition costs increasing, the importance of retaining existing customers cannot be overstated.
From Churnly’s AI-driven analytics, UserMotion’s predictive scoring, to ChurnZero’s comprehensive health scores, the churn prediction tools listed above underscore a crucial point: understanding and addressing customer problems in advance is key to sustaining business growth.
