In the highly saturated market for communication services—where it’s hard to find a consumer who doesn’t already have Internet, cell phone, and cable or satellite TV service—customer retention is the key to revenue generation and profitability. At the same time, customer retention has become more difficult as consumers are increasingly willing to cancel contracts in order to switch providers, and some providers try to lure customers away from competitors by offering to pay their early termination fees.
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In this cut-throat environment, the best customer retention strategies recognize that not all customers provide equal value to the business. Rather, in line with the “80-20 rule”, a minority of your customers drive a majority of your profits. The challenge in customer retention and churn management is to continually determine which customers provide more value—and which provide less or even negative value—and bring that information to bear on day-to-day customer interactions.
Personalized Customer Retention, Powered by Pega
To improve operational efficiency and power superior customer service and retention programs, more than half of the top 10 communications service providers use Pega solutions. Pega equips providers with a unified and versatile platform for automating and optimizing customer-facing and back-office business processes.
What sets Pega apart is the ability to integrate easily with legacy and third-party data sources (including “big data” sources); perform real-time analytics on that data; feed the analytics into a powerful business rules and decisioning engine; and push those decisions out to automated processes and customer service desktops. The result is an unprecedented ability to deliver highly individualized service across all customer touch points. This empowers organizations to develop and apply sophisticated customer retention programs based on individual customer tendencies and value to the business.
Customer Retention Solutions
Pega’s innovative Build for Change® technology makes it easy to create process-automating applications that run on the Pega platform. To accelerate time-to-value, Pega also offers customizable solution frameworks built specifically to help communications service providers win and retain customers:
- Marketing and Sales. Pega’s Next-Best-Action marketing solution uses predictive and adaptive analytics to push the right offer to the right customer, at the right time, across any marketing or sales channel. The solution also supports campaign-wide marketing analytics to evaluate and optimize multi-channel campaigns.
- Order Management. Traditional telecom order management systems are fragmented, inefficient, and error-prone. With Pega’s order management solution you can automate the end-to-end process, reduce cycle times and order fallout, and gain real-time visibility across the entire order fulfillment system.
- Customer Service. An integrated part of the Pega platform, the Pega service desktop applies up-to-moment information from the central analytics and decisioning engines to guide CSRs step-by-step through each customer interaction. The result is a superior customer experience and the delivery of personalized upsell, cross-sell, and retention offers. The Pega platform also supports Web self-service and can even help determine which customers should be steered toward this lower-cost service channel.