Service providers have a wealth of subscriber data in their networks; however, capturing that data and using it to optimize service delivery is complicated. Incognito makes broadband data meaningful by delivering the insights needed to manage service delivery, increase revenues, and keep customers engaged.
Our Network Monetization and Analytics Platform (MAP) supports operators in optimizing network resources by providing the power to proactively address congestion, improve service quality, automate network actions, and uncover new market opportunities using a centralized platform that spans multiple departments and teams.
MAP's three modules–Monetize, Act, and Proactive can each help in different ways. Today let's talk about Monetize.
In a previous blog post, we talked about the customer journey. Today, we'd like to point out two specific ways our MAP Monetize module can help influence the customer journey and explain why you should.
As business metrics go, customer retention is a crucial one. The ability to retain customers over time boosts a company's bottom line in many ways, including:
- Affordability: It's five to 25 times more expensive to acquire a new customer than it is to retain an existing customer.
- ROI: A five percent increase in customer retention can increase company revenue by 25 to 95 percent.
- Loyalty: Retained customers buy more often and spend more than newer customers. They've learned the value of a product/service and keep coming back again and again.
- Referrals: Satisfied, loyal customers are more likely to sing a company's praises and refer their friends and family—bringing in new customers free of charge.
You may already know about the importance of customer retention but may struggle to find resources to implement a solid customer care program to support it.
So, what can MAP Monetize help you accomplish?
- Identify usage per customer—analyzing consumption and utilization.
- Enable zero-based rating for operator-provided services (e.g., IPTV, VoIP).
- Allow real-time data collection—providing a centralized architecture for gathering usage metrics from fiber OLTs and CMTSs for IPDR and IPFIX in a multi-vendor network environment.
Status quo: A current subscriber is an ideal customer who pays bills on time and rarely engages with customer care.
Their IPTV consumption is dropping while their data usage rises, driven by increased OTT use.
This subscriber is less engaged in digital channels such as the portal/app. Are they at risk of churn?
Opportunity: Retain their business by offering a one-month free IPTV promotion, combined with another product of interest.
It's an oft-quoted statistic that 80 percent of your future revenue will come from 20 percent of your existing clients. To optimize future income from existing clients, you need to not only retain them, but also upgrade them.
Great advice, but how exactly are you supposed to do that? Making them feel like they matter is crucial, and you can do this by delivering personalized customer experiences.
Still, if you already thought you had no time for customer retention, you may have even less time to dedicate to upgrading.
MAP Monetize can help here, too:
- Increase ARPU by leveraging key subscriber insights to drive revenue generation via package upsells, promotions, and usage-based add-ons.
- Slice upstream/downstream data across service classes to understand individual markets and track customer usage patterns to tailor personalized offerings.
- Gather network insights to understand differing subscriber needs, classify users to bandwidth, and tailor offers for latency-sensitive services like gaming.
Status quo: An existing customer is subscribed to your "Gold" plan with a certain usage level cap. Their focus is online gaming and OTT streaming.
Opportunity: Increase ARPU by upselling them to your "Platinum" package with unlimited bandwidth.
MAP Monetize can increase your overall ARPU by providing monitoring and analysis capabilities to enable you to identify and take action to retain and upgrade existing customers.
Contact us to find out how we can make MAP work for you.
Look for the next installment in this series, highlighting the advantages of MAP Act.
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