If you love them, set them free…
…because if they love you, they’ll come back.
I’m sure most of us have seen this on a poster, as a meme, as a social media post, but may never have applied it to our businesses. However, the ability to easily leave a service is one of the key decision moments for subscribers, based on research by PayWizard, the latest vendor to be added to our list of technology partners integrated into our Infinite Video platform.
Paywizard use big data and analytics to identify decision moments around how and when users make purchasing decisions, and this analytical approach makes them an ideal partner for us. Paywizard complement our data driven approach, enhancing the rich data we gather, store and analyse to generate deep customer insight. At Cisco we know this is a challenging area given the exponential increase in the number of devices and platforms available to the consumer. And with an increasing number of services trying to grab their attention, more than ever some consumers know that being tied to a single service just isn’t for them. They need flexibility, and yes, sometimes, they need to take a break.
We know that customer retention is much more economical than customer acquisition, and that some demographics are very happy to switch between Service Providers, so being able to easily leave a service is one of the things that will encourage consumers to come back. They know they aren’t necessarily going to get tied into a long contract, and they value that. And, most importantly, they will pay for that.
For the Service Provider they need to be able to simplify their operations, to make sure that having flexible options doesn’t over-burden their business with new processes and technology. Whatever the Service Provider wants to offer, it all needs to come from one place, to be managed by one platform and be supported by one team.
This is what the Infinite Video platform is built to do – and is doing for many of our customers. By allowing the creation of multiple, flexible offers, and then changing them based on consumer and market feedback, our customers can stay ahead of their competition, and keep their consumers coming back for more.
So, if you don’t want to hear ‘It’s not me, it’s you’, make sure that your consumers have the opportunity to choose. Give them an alternative that better suits what they want, because that’s what will keep them coming back
To learn more about the Infinite Video Platform and our work with Paywizard, why not visit us at Mobile world Congress in Barcelona, from February 27th to March 2nd, or visit our new web site at cisco.com/go/infinitevideo.