Using insights to improve retention rates
Delivering an insight-driven customer retention operation for a UK telecommunications provider.
As a cable and mobile service provider, this UK Telecommunications company operates in a highly competitive environment where customers regularly switch service providers looking for the best deals, the latest products, fastest speeds, and the best service.
In order to remain competitive, this company needed a high-performing team to improve customer retention and protect and grow client revenue.
Applied advanced analytics to provide business intelligence on customer disconnections, competitor offers, and handset upgrades. These insights were critical in helping operations teams drive performance improvements and in helping client commercial teams make product/pricing change that responded to customer needs.
Trained and staffed a team of specialists with leading retention techniques leveraging call insights and training assets to develop effective training programs that armed agents with the necessary skills to retain customers and offer the best products to suit their needs.
Developed the retentions toolkit – Agents can now make data-driven decisions with new retention toolkit. The toolkit includes a digital performance dashboard created with Accenture’s data visualization capabilities. Additionally, a new digital call compliance agent ensures policy and regulatory compliance.
Through implementing a robust, technology-enabled training program, the client has driven better experiences for their people and their customers. The client and Accenture have created an environment that makes it easier to source and transfer critical information for customers and this has positively impacted the client’s workforce, enabling them to spend more time delivering value.
Moving forward, they will look for opportunities to leverage SynOps - Accenture’s unique human + machine operating engine that leverages the power of data, applied intelligence, digital technologies and talent – to create an even more intelligent customer service environment that will provide deeper insights and drive sustainable growth.
Over the past two years, Accenture has delivered client value in the following ways:
Customers retained in 16 months, exceeding the target by 76,000 - a 65% increase in customer retention and well above the industry top quartile performance of 15%.
Improvement in handset sales generated over £4M in handset contract value in 2019, compared to 1.58% growth the prior year while consistently delivering best-in-class FCA regulatory compliance at 97%.
Multiskilled customer care agents with retention skills which helped the client drive significant opex saving in their enterprise staffing requirements.