Our client was looking for a way to prevent its most valuable customers from leaving and brought us on to help create a more well-rounded solution. We helped create a new customer-retention program.
It is a well-known fact in the wireless industry that the majority of new subscribers are coming directly from a competitor, and one of the largest telecommunications providers in the world was looking for a better way to keep its most valuable customers from leaving (“churning”). We were brought on to develop and deliver a solution that would take a more data-driven approach to understanding the customer journey in order to ward off a potential deactivation before it happened.
We designed a proactive customer retention program based on a more effective use of the client’s own data that included the integration of three systems – a customized Customer Relationship Management (CRM) software solution, a sales offer management system, and an automated phone dialer. This integrated platform was the key to providing our associates with the right information so the right type of customer contact could be made at the right time. The CRM system would evaluate existing accounts for sales opportunities and potential customer issues. The automated technology eliminated hundreds of hours of contract analysis and manual dialing, and associates were provided with a customized scripting model that streamlined and directed every customer contact. Sales associates wasted none of an at-risk customer’s time, and could immediately present a sales offer tailored for the customer. High-value and at-risk accounts were contacted in advance of contract expiration dates, or if they were approaching the limits of monthly allotted airtime. Sales associates offered contract renewal incentives, performed account reviews to identify ways to improve the billing, and capitalized on cross-sell and up-sell opportunities for new equipment and service.
The program delivered solid results, delivering a 20 percent increase in sales win rates over the client’s previous efforts. In addition, customers contacted by our associates were 56 percent more likely to upgrade their service plan. The program has proven to be so successful that the client has more than doubled the size of the program, and we continue to reach out to the client’s customers at all critical stages of the customer life cycle.