A global customer analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest engagement on building a comprehensivecustomer lifetime value model for a telecom service provider.
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Customer lifetime value model for a telecom service provider. (Graphic: Business Wire)
With the expansion of the telecom sector the demand for agile and seamless services among the target audiences has increased. Leading companies in the telecom industry are continuously improvising their strategies to improve their network and offer expanded services to address the needs of their customers. They are more focused on retaining and organically growing customers in the telecom sector since it is a cost-effective method when compared to acquiring new customers. However, implementing such strategies requires companies to build an effective customer lifetime value model that can determine the value of the money that the company spends on acquiring new customers and the customers' worth over a specific period of time.
The Business Problem:The client is a well-known company in the telecom industry in the United States and generates annual revenue of over $27 billion. Rising competition in the telecom industry was posing challenges for the client to acquire new customers. However, they realized that sustaining customers in the telecom industry was equally important for the company to avoid financial losses. As a result, they wanted to identify profitable customers by using the relevant marketing channels. This compelled the client to leverage Quantzig's customer analytics solutions to devise a customer lifetime value model that can target the right customers and improve profits.
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"Customer lifetime value analysis has become a necessity for companies in the telecom industry to build a better customer experience and reduce customer attrition rate," says an expert from Quantzig.
The Solution Offered:Experts at Quantzig helped the client to devise a customer lifetime value model, which helped them profile the right customers and build a long-term relationship with them. With our help, they were able to gauge right marketing strategies to reduce their churn rates and make right marketing investments. The customer lifetime value model offered the telecom company with real-time insights into the target customers and helped them identify profitable, nearly profitable, and unprofitable segments. This helped them to predict churn, reduce customer attrition rate, maximize retention, minimize acquisition costs and remarketing costs.
Companies in the telecom industry can optimize interactions and conversations to drive repeat purchases, customer referrals and reduce financial losses. Request a free proposal and know how to leverage customer analytics solutions for formulating a customer lifetime value model.
Quantzig's customer lifetime value model helped the client to:
- Minimize acquisition costs and remarketing costs.
- Analyze customers on the basis of profitable, nearly profitable, and unprofitable segments.
- Want to gain actionable insights that can accurately identify and analyze customer behavior? Request for more information now!
Quantzig's customer lifetime value model offered predictive insights on:
- Increasing the customer retention rate by acquiring potential customers.
- Predicting churn and enabled the design of new programs to reduce customer attrition rate.
- Want to develop strategies that can significantly improve customer loyalty and brand recognition? Request a free demoto know how our BI dashboards and customer analytics solutions can help you in developing an effective customer lifetime value model.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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