Articles

Machine Learning Approaches for Customer Churn Prediction in the Aquaculture Technology Sector

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This study investigates the application of advanced machine learning techniques for customer churn prediction in the rapidly evolving aquaculture technology sector. We employ and compare three distinct models—Logistic Regression, Random Forest, and XGBoost—to analyze a synthesized dataset representative of the industry. The research encompasses comprehensive data preprocessing, feature engineering, and model evaluation using standard performance metrics. Our findings demonstrate the superior performance of XGBoost, achieving 88% accuracy in predicting customer churn. Through feature importance analysis, we identify key churn predictors, with the difference between a customer’s last order amount and their mean order amount emerging as the most significant factor. Additionally, we utilize SHAP (SHapley Additive exPlanations) analysis to interpret model outcomes, revealing nuanced relationships between features and churn probability. The study highlights the critical role of consistent engagement, proactive customer support, and personalized retention strategies in reducing churn. Our research contributes to the growing body of knowledge on churn prediction in specialized technology sectors and provides actionable insights for improving customer retention strategies in the aquaculture industry. The paper concludes with recommendations for future research, including the integration of external data sources and exploration of deep learning approaches for temporal dependency analysis in customer behaviour.

Designing Innovative Corporate Social Responsibility (CSR), Social Media Marketing, and Sales Promotion to Increase Customer Retention in an Indonesia Local Fashion Brand: A Case Study of Nors Studio

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This study focuses on analyzing the direct and indirect effects of various marketing strategies on customer retention, with special emphasis on the role of perceived value as a mediator. To achieve the research objectives, a quantitative research design was adopted to collect data and capture customer feedback effectively, with a descriptive approach to explain each hypothesis and its implications in detail. A total of 250 valid questionnaires were received as survey participant responses for data analysis. The results of the analysis in this research are that perceived value has a positive relationship and significant effect on trust; perceived value does not have a significant effect on Nors Studio; trust has a positive and significant effect on Customer Retention; trust completely mediates perceived value to customer retention. Managerial implications based on these results are creating more services and educating customers about service offerings compared to competitors, improving services by implementing computerized systems to reduce errors, employee training, and proposing programs such as cash discounts or bonus products to maintain customer loyalty.

Developing Marketing Strategy Initiatives to Enhance Customer Acquisition and Customer Retention for MedTech Startup (Case Study: Riliv)

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In response to increased consumption, the MedTech market in Indonesia, which includes applications for mental health services, has experienced phenomenal growth. However, customer acquisition and retention have emerged as significant obstacles for businesses such as Riliv, a prominent mental health service application. This study seeks to identify the factors that influence and improve Riliv user acquisition and retention among non-users, current users, and former users. A quantitative research strategy employing descriptive statistics and a non-probability sample of 200 respondents were utilized. To capture data, the Likert scale questionnaire was distributed online. The research included both internal and external analyses (STP, 7Ps of the marketing mix, and VRIO) as well as PESTEL, Porter’s Five Forces, competitor, and customer analyses. The SWOT and TOWS analyses were then conducted. The findings highlight the importance of effective promotional activities, competitive pricing, and superior product quality and service in attracting and retaining Riliv users. Increasing brand recognition, enhancing product attributes, and ensuring service quality have been identified as crucial factors positively influencing consumer acquisition and retention. Riliv can implement strategic marketing initiatives such as targeted advertising, influencer collaborations, refined messaging, content marketing, personalized experiences, trial periods, referral programs, and continuous engagement in order to overcome these obstacles. By adopting these strategies, Riliv can position itself as a dependable online mental health services provider and accomplish sustainable growth in the highly competitive MedTech industry.

Investigating Factors Influencing Customer Churn in the Online Bill Payment Services

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In Indonesia’s growing digital economy, the high churn rate in online services, such as bill payment platforms, is a critical concern. An example is BillsXYZ, a pseudonym used in this research for confidentiality, where similar services are readily available, and customer switching is effortless. The study conducted an analysis of the external environment to gain insights into the competitive landscape of the market. Using the Theory of Planned Behavior, a framework including key elements like customer experience and satisfaction, price and promotions, service quality, social influence, brand image, ease of use, and features of the service. The research involved 110 survey participants and four detailed interviews. Key findings from the analysis indicate that while there is moderate satisfaction with the online bill payment service, there are areas that require improvement, including recurring payment failures, limited availability of certain payment methods, and insufficient awareness of certain features. To address these issues and enhance customer retention, recommendations were put forth, such as increasing feature awareness, improving service quality, and implementing strategic promotions. This study provides valuable insights for online bill payment services to improve customer retention strategies.