Gaining and Retaining the customers you want
The telecommunication industry is currently undergoing major change with a business model that is moving away from voice connectivity to virtually every aspect of communications you can imagine. Customer intelligence is required to enable the business to focus on gaining and retaining the customers they really want.
With the ease with which customers, looking for the best possible deal, are able move from one operator to the next, high customer churn rates are an ongoing problem. Telco’s must continually find new and effective ways to market products and services to new and existing customers in order to increase revenue, recover acquisition costs, and improve customer loyalty and retention. One of the best ways to do this is to maximize customer value through effective cross-selling and up-selling.
Many Telco’s still struggle to do this, yet the customer data that would help identify good candidates for cross-sell and up-sell campaigns is often available somewhere in the enterprise, but not readily available for methodical and systematic analysis.
Without a complete and clear analysis of customer preferences and behavior, effective customer profiling is impossible. Knowing the answers to questions such as "which customers subscribe to multiple services"? or "Which customers always upgrade to the newest equipment?" lets you profile and discover the attributes of similar customers who could be good candidates for cross-selling and up-selling campaigns.
Cross-Sell and Up-Sell is only a part of a unified Telco business intelligence solution. Other components include:
- Customer retention
- Customer segmentation
- Customer profitability
- Market basket analysis
- Customer loyalty program analysis
- Channel effectiveness analysis
- Call behavior analysis
Unified Telco business intelligence and analytics is only part of the solution. The next challenge is to architect these Telco specific components with scalable business intelligence and performance management technology, compromising data integrated from every source within the organization
Any Telco able to do this can gain real value from their data and efforts - Gaining and Retaining the customers they want.
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