Retention improvement of a major millennial housing player

• 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

• 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

• 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

• 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