DISCOVER THE REAL REASONS THAT LEAD YOUR MERCHANTS TO LEAVE
Merchants navigate five stages before they decide to leave your organization. They go from a status quo until an irritant occurs. Common irritants include unexpected fees, fee increases, service issues, chargebacks, etc.
This irritant starts a chain of five stages that the merchant goes through and given the right frequency will result in attrition. These five actions are:
- Maintenance: the merchant maintains the status quo in the new relationship.
- Pre-contemplation: the first time the idea of switching occurs in the merchants’ mind.
- Contemplation: the merchant really thinks about switching.
- Preparation: the merchant entertains offers, does research, ask other merchants about their providers, etc.
- Action: the merchant actually signs up with another processor.
THE SOLUTION
Survey
of merchants that left to uncover the reason why they left along with other relevant data.
Data Analysis
by vertical, size of merchant, and cluster analysis to identify common threads
Recommendations
about the strategy or tactics to implement to stop the attrition of your merchants
Powerful Analytics
Economic time-series regression models that integrate your internal merchant data and external data obtained from your merchants to deliver a predictive model that scores merchants on their likelihood to leave, and provide you with recommendations on how to deal with each reason.
