The telecommunications market is highly saturated. In most of the developed world, nearly everyone who wants a mobile phone has one. There are opportunities for carriers to increase service usage or upsell customers on higher-value devices or services, but each new account generally comes at a competitor’s expense—so customer retention is crucial.
Telecom service providers need to reduce losses, prevent churn and maximise revenue on their offerings. FICO’s Best Next Action™ technology can be an important tool to achieve all of these objectives, either by presenting new offer terms or cross-selling other products and accessories to enhance the customer’s telecommunications experience—the handset upgrade, better financing terms, insurance on the handset or a subscription service for content.
- Prevent account churn
- Optimise service utilisation
- Segment accounts
- Tailor the contact method to the account