Cost and Performance Excellence
Retention improvement of a major millennial housing player
27 May 2020
  • Client Description: A leading student housing / PG player in India
  • Opportunity: The client had experienced a drop in retention rates of its residents as well as an increase in mid-contract churn and wanted to develop a framework to identify and address the root causes leading to forfeiture/churn and eventually boost retention rates

Further, the client also wanted to understand the following: 
  • Patterns emerging from the data to create a continuous scoring tool that would predict retention for each resident 
  • Impact of each driver and classify them as start-stop-continue, in order to create a prioritized plan of action
  • Validate the impact by testing it on a sample set of students

Our Approach
  • In-depth interviews with 100+ students, parents and company personnel to develop driver trees for forfeiture and retention
  • Customer survey of ~300 students to understand customer behavior during decision making and validate the impact of solutioning framework
  • Based on the research findings, defined ~10 customer personas, developed a solutioning framework to address key drivers of forfeiture, and estimated the investment and revenue impact for the same
  • Analyzed client’s data to identify factors driving retention/ forfeiture and developed a predictive scoring tool to identify high-risk customers based on which retention activities could be prioritized and required budgets allocated
  • Developed a 2x2 priority matrix with deep-dives into the high priority solutions

Key Insights / Outcomes

Provided the client with a deep understanding of customer behaviour and major drivers impacting retention and forfeiture

Designed a solutioning framework and predictive model to target at-risk residents – this led to >20% increase in retention of students

Praxis Value Delivered
  • A nuanced understanding of resident behavior across different personas and segments Action plan for additional parameters to track to improve predictability
  • Driver tree and predictive models for reduction of churn and forfeiture
Do you want to turbocharge your business using digital technologies and processes? Write to us below.

Ready to talk?

I want to talk to your experts in:

We work with ambitious leaders and transformative clients who are defining the future. Together, we achieve extraordinary outcomes.

I have read the privacy policy and I agree to its terms.