Cable customers for life: The smart approach to winning loyalty
In today’s race to win customers, cable companies are trapped in a contest where conventional approaches to resolving churn only put them farther behind the pack. What if it were possible to pull ahead of the competition and stay ahead, building an insurmountable lead in customer loyalty that leaves competitors in the dust?
The shift in how today’s cable market leaders treat customers is marked by a combination of personalization and service – a familiar goal much like the intimacy gained in a door-to-door salesperson’s face-to-face meeting with a customer. But there all similarity ends.
Now the “handshake” that seals the success of customer interactions is largely technology-based. Instead of ‘on the world’s doorsteps’, today’s competitive gateway is the intelligent backoffice, a sophisticated IT infrastructure that masterminds the realtime integration of billing data, business intelligence, predictive analytics and CRM to create an in-the-moment portrait of the customer: a concise view of his or her buying power, history, usage, personal preferences and likelihood to move up the value chain with future purchases.
This infrastructure, commonly called “Smart BSS,” empowers cable companies to “know” each customer and deliver a uniquely satisfying experience based on detailed insights into what has passed in the customer’s relationship with the cable company, and what will most likely come. Even more remarkably, because such systems deliver unprecedented scalability, they can perform the same miracle of intimacy across millions of customers and billions of transactions, responding to service needs proactively – even before the customer is aware of an issue – or creating customized service packages loaded with subtle feature variations defined by an individual’s known likes.