Developing Modified Churn Management Strategy Using Social Network AnalysisTelecom
Businesses can no longer sell a customer a service and move on, especially telecom businesses. The telecommunication industry has fierce competition among various service providers. Churn management is an important part of customer relationship management strategy that helps identify customers at high risk of leaving. Thus, companies introduce new offers to make them stay. The process requires understanding the reasons why customers are switching, whether it is due to issues in technical or customer services, competition offers, or anything that has an impact on the user. Social media plays a crucial role in this, whether it is related to complaints, offers, or anything. Companies can leverage social media insights and change their churn management strategies, to serve better their customers, reduce churn, and stay ahead in the competitive landscape
The client, a telecom company in Africa, aims to modify its churn management strategy by incorporating social network analysis. Specifically, the client intends to focus on leaders and influencers in addition to traditional churn management strategies.
Approach
Our approach involves developing and implementing a modified churn management strategy that leverages social network factors and prioritizes customer segments based on their influence.
- Developed and Implemented Modified Churn Management
Developed and implemented a modified churn management strategy that incorporates social network factors.
- Added Dimensions to Existing Churn Prediction
Added new social network dimensions to existing churn prediction models to create prioritization logic.
We developed and implemented an automated SAS script-driven package for prioritizing customer groups based on the modified churn management strategy. This package facilitates efficient decision-making by providing insights into customer segments that are most at risk of churn.
Benefits
- Improved Churn Prediction
- Better Targeting of Leaders and Influencers
- Enhanced Customer Retention
- Streamlined Decision-Making