I’ve had a little conflict with my Telco last week. They kicked me out, I am no longer a customer.
For ten years I have been a loyal customer of this Telco, one direct debit payment gone wrong meant the end of our relationship. I went from loyal customer one day to ‘debtor’ the next!
Apart from my rising bill in 3G internet connection, this whole situation made me think how my Telco didn’t know I was ok and how Big Data could have helped them.
Bit data power
If I were a Telco this is what I would do with my data;
1/ find out how long a customer has been a customer. I would have learned that Ines has been a customer for 10 years.
2/ calculate the payment history of my customer. Our algorithms would have told me that this one direct debit gone wrong was a rare anomaly in her history.
3/ look at other criteria of loyalty: Ines moved three times and never gave up her Telco, even though other big data tells us moving is a key moment in which we lose customers. Ines once got charged WAY too much by us, but she stayed, she had to change hardware three times, but she stayed, even though company errors are key moments to lose customers.
Who’s the bad customer?
Big data could have told me we wanted to keep this customer, not ditch her at the first mistake. It is not always easy to find good business cases for big data, cases that can be put into practice and have a clear ROI. This is one good case that would help companies achieve ‘smart customer retention’. Keep the good ones, ditch the bad ones.