We live in an age of mass customization. We’ve seen the trend for decades but its accelerating as customers can design their own clothes, perfume and more. Tatoos and body jewelry are yet other ways consumers choose to customize themselves. This thought came to mind in one of my recent briefings.
Specifically, the company can help a CSP accelerate data usage through the promotion of shared data plans. They can utilize location information to aid in fraud detection. They can go after silent roamers by offering them special plans for the duration of their stay in a new calling area. Prepaid customers can be targeted with short-term offers either for a number of days or a week or more. By using analytics to determine what the customer might accept and tapping into a credit database, the carrier can make an informed decision on what the customer is likely to agree to.
Moreover as mentioned above, a carrier can really target customers with specific offers rather than referring them to a web portal with lots of choices. If the offer is highly-relevant and presented in an easy to digest 140 characters, consumers are more likely to accept them.
Customers can also be presented with retention offers specific to their circumstances which include usage, financial situation and other factors. The carrier would likely also factor in credit worthiness before allowing a customer too much credit.
In short, the goal of the company’s latest analytics offerings is to ensure carriers leverage the power of virtually limitless information with data contained in the network to maximize ARPU, reduce churn and add new customized offers to customers.