There’s at least a 50% chance you are reading this article on a device or smartphone. And since Steve Jobs introduced the iPhone in 2007, the telecom industry has been in a race as more and more of our time becomes “connected.” But in recent years, especially during Corona, even the telecom industry has been forced to focus on maximizing margins and budget cuts.
Well, as lovers of data in the business of B2B data empowerment, we know that in business there are two ways to make more money: either sell more products or retain more customers. Luckily for us (a data democratization company empowering employees to leverage and discover insights from their organization’s data) using data make both easier.
Today we will be exploring a popular use case for Veezoo: reducing customer churn, specifically by analyzing a California telecom’s customer data. Who knows, maybe the data has ideas on which customers or services have the highest churn and require the most customer support to keep engaged.
And what better place to start than with an overview of the business itself? Well with Veezoo, that’s as easy as asking: “What are the most common services and types of contracts?”
Seconds later, you have your answer.
Then, we’d probably want to look at overall churn and to break it down by service, which you could easily do by asking to “show customer churn rate by service.”
As you can see, Fiber Optic Internet seems to have the highest customer churn. Want to know why? Let’s “break it down by seniority” to find out.
It seems like Senior Citizens definitely cancel their Fiber service more than other customers. Maybe added support would help. A quick search for: “Which active Senior customers have Fiber optic internet but no Tech Support?” and we’d know who to follow-up (and possibly upsell Tech Support) to.
Add to that, that you already know that month-to-month customers have a higher churn, especially ones that have been with the service for less than a year. So let’s narrow down even further.
Voila… you have your list of customers to contact, upsells to propose, and strategies to reduce churn. Best of all, you can export everything to Excel to automate your CRM and continue searching your data for new ways to improve your business and performance.
And imagine… that was all in just 90 seconds!
So, what would you do with the power of data at your fingertips? Start your 14-day free trial today!