Making the most of data throughout the customer lifecycle
Provision of a better customer experience, or more commonly known as CX, is ranked a top strategic priority by US operators in a recent survey by Paywizard, and it’s no surprise. Consumers want the best TV service, quickly and smoothly and if operators don’t give it to them, they’ll find it somewhere else. So how do you satisfy customers at all times whilst also driving revenues? The only way is to ensure you are using data and analytics to deliver a holistic view of customers at each touchpoint and take the right action at the right time.
Although this is already widely used, it’s important to point out the significance of gathering data and using this insight when attracting new customers. Not only is it necessary through marketing campaigns for customers to find your service, but also when they are signing up to join a service. Whether this is through proactive webchat or tracking the user journey to see drop off points that may need to be improved, data can be used to make this as seamless as possible.
Whilst a lot of operators are already using data to attract new customers, many are forgetting about the ones they already have. Taking insight from viewing data to see what customers are watching and how they are interacting with a service can give insight into upgrade offers as well as overall price management to ensure users are on the best package possible. Not only does this improve revenues, but also their overall experience, driving satisfaction and loyalty over time.
Analysing what content customers are consuming is about much more than just content recommendations. The more you understand about viewership patterns, the better the subscriber engagement will be. This could be personalising UI, tracking start/stop as well as viewing issues. Proactively reaching out to users if something goes wrong could be the difference in them choosing to stay with a service or leaving.
The Importance of Accurate Billing
Despite being a vital part of the customer journey, there seems to be little progress in applying analytics in the billing process. In previous consumer studies, Paywizard has identified that this is the top reason for dissatisfaction. Many consumers are having billing issues, but operators don’t seem to be focussing on this area to rectify these problems. It’s important to get the basics right.
Predicting Churn and Winning Back Customers
Using analytics to predict churn and win back lost subscribers can have one of the most positive impacts on business. Developing a detailed understanding of the churn process, knowing the best time proactively engage with personalised offers and understanding when to reach out to win customers back will have a significant impact on revenues.
Deliver an Exceptional Experience with Paywizard
Paywizard are dedicated to helping operators drive precise engagement with customers throughout the full lifecycle. Contact us today to see how we can help you and download our research paper here to find out more about how operators are using data.