Wireless Communication Industry Overview
The global wireless communication industry comprises firms offering mobile phones and other wireless telecommunications devices such as wireless internet access and video. Over the past few years, wireless communication has proven to be effective for the sustenance of businesses as it facilitates effective communication with end-users across the globe. Due to the growing innovations in the telecom industry, businesses have started opting for the Internet of Things in their applications to streamline their operations and deliver effective services. Besides, the rapid growth of the wireless telecommunication market can be accredited to the growing internet penetration, ease of access to smart mobile devices, and advances in wireless technology.
What the Client Wanted
Profile customers that are vulnerable to churn and devise effective retention strategies.
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Reduced churn rates by 10% and amplified service offerings.
Security issues: Currently, individuals have better access to a wide array of data services with the trend of digitization reaching its peak. However, unlimited access to data can make them vulnerable to potential threats. As a result, establishments in the wireless telecommunication space should look to ensure better security in terms of maintaining and handling data.
Equipment costs: Wireless telecommunication services are considered expensive when compared to conventional counterparts. Moreover, the extra costs involved in subscribing data services are forcing organizations to offer solutions at affordable costs while meeting the value requirements.
About the Client
A world-famous wireless communication provider based out of the US.
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The client was facing challenges identifying customers that are susceptible to churn. As a result, the client wanted to seek ways to effectively predict churn and formulate a more targeted and personalized offer to see a sizable reduction in churn. With the help of a churn analytics solution, the client wanted to understand the customer’s behavior and establish processes to identify early signs of churn.
Summary of Our Engagement
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With the help of Quantzig’s churn analytics solution, the wireless communication provider managed risks related to customer churn and identified the key areas to enhance the business value. Additionally, the client optimized sales and marketing campaigns and improved conversion rates. This further helped them to scale up the cross-sell and up-sell opportunities.
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Churn Analytics Solution Insights
Quantzig’s churn analytics solutions help firm in the telecom industry space to gain a holistic 360-degree view of the customers’ interactions across multiple channels. Furthermore, firms can understand customer needs and preferences and consequently offer tailored services to boost their retention capabilities.