3 ways behavioral analytics can drive business growth
Behavioral analytics connects seemingly unrelated data points to explain not only what is happening, but also how and why it is happening. This capability is especially powerful for telecommunications companies that want to know why users behave the way they do, so they can predict and leverage future behavior.
Three business growth benefits
When incorporated into marketing and proactive customer service and used to gain insight into multichannel activity, behavioral analytics can quickly lead to significant business growth in three ways:
- Increased sales: By integrating customer behavior data from all major channels, telecommunications companies can create a single view of every customer’s interactions with the brand. This approach provides insight that can be used to design personalized offers that increase cross-sales and up-sales.
- Reduced customer churn: Behavioral analytics also provides data that leads to the nurturing of customer loyalty. Churn prediction models can identify customers who are likely to cancel service so the company can be proactive about correcting problems, increasing customer satisfaction and preventing customer churn.
- Fast campaign analysis: Speed is important for real-time insight. The right behavioral analytics platform increases outbound campaign volume and speeds up the analysis of campaign results, so marketers can pivot campaigns when necessary to achieve the best possible results.
An excellent example of a telecommunications company leveraging behavioral analytics and personalized marketing is Mobily, the second largest communications company in Saudi Arabia. It offers high-quality voice and data services to more than one million active subscribers and generates annual revenues equivalent to approximately $6.7 billion.
Mobily won a 45 percent share of its domestic mobile market in four years, and the company wanted to continue its fast-paced growth by growing average revenue per mobile user. The challenge was figuring out how to match data offerings—on-demand media, games and mobile TV—to the relevant audiences for creating personalized offers that would lead to sales.
The solution was found in IBM ExperienceOne—a real-time, multichannel-offer, management solution—and IBM SPSS Modeler, an extensive predictive analytics platform that can be used to forecast customer behavior. Combined, these platforms helped Mobily integrate customer data from various channels to gather insight that was used in the customer service process as well as in the marketing process. Now, Mobily is able to create valuable up-sell opportunities by presenting the best offer at the right time—helping to boost average revenue per user, reduce churn and facilitate business growth. Learn more about Mobily’s success using personalized marketing.
Other ways to learn more
Do you want to transform your marketing organization to achieve results like those achieved by Mobily? Start with the Analytics Assessment to find out how effective your organization is at harnessing the power of big data and analytics. Then visit IBM at Mobile World Congress 2016, 22–25 February 2016, in Barcelona, Spain at booth 3.H30 in Hall 3 to see a demonstration of IBM Analytics solutions powering Mobily’s amazing results.