Customer Churn for the Telecom Industry Helps Implement Effective Business Processes
Customers remain an indispensable part of any organization, and the loss of a customer can have an adverse effect on the growth of the company. For any company to enhance their clientele in the telecom industry, organizations should devise an effective strategy to curtail their prevailing churn rates. As a result, most telecom companies have started […]READ MORE >>
Customers remain an indispensable part of any organization, and the loss of a customer can have an adverse effect on the growth of the company. For any company to enhance their clientele in the telecom industry, organizations should devise an effective strategy to curtail their prevailing churn rates. As a result, most telecom companies have started adopting robust customer churn analysis solutions to improve the retention rate of profitable customers. In the telecom industry, retaining customers remains a serious challenge when compared to acquiring them. To effectively retain customers, leading service providers in the telecom industry have started analyzing the customer lifetime value to measure acquisition costs, revenue, customer service, and returns. In addition, businesses can further leverage the use of customer churn analysis to measure the relationship of subscribers at every stage with their operators.
Quantzig’s customer churn analysis solution helps clients devise predictive churn modeling to discover and analyze data to forecast the likely future behavior of the customers. With years of expertise in offering such solutions, Quantzig helps the client segment the customer sales by margins and immediately adjust offers and solutions to retain customers and remain more profitable than their competitors.
The Business Challenge
A leading firm from the telecom industry was facing predicaments implementing effective business processes. The client wanted to understand the market size of the telecom industry and effectively analyze the impact of churn rates on the overall functioning of the company. The primary objective of the engagement was to understand the customer usage information over a stipulated period and analyze their preferences.
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Customer Churn Solutions Benefits
Through a robust engagement, the client was able to analyze the usage patterns of customers in real-time and assess the intensity of subscribers’ churn rates and increasing competition from over-the-top services. Also, the engagement helped the client retain the existing customers and enhance the income stream. Effectively analyzing customer churn also helped the client leverage the use of real-time integration and predictive statistical model to increase the average revenue per VIP user. The client was further able to assess telecom traffic and detect changes in usage patterns and experience levels.
Customer Churn Solution Predictive Insights:
- Gain a 360-degree understanding of the telecom industry in terms of customer segment profile, past preferences, and usage patterns
- Witness a reduction of 25% in churn and 40% increase in average revenue
- Identify the key factors increasing churn rates such as network quality issues
- Gauge data about preferences, segments, usage patterns, and call center interactions
- Understand the subscriber behavior regarding churn or revenue enhancement
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