Product Development and Business Analyst
A telecommunications company required a marketing professional to conduct a business and product analysis using customer data to uncover product and promotional offerings that would increase market share, as well as decrease customer churn. The business analyst would be responsible for writing requirements for new products and promotions while working with stakeholders and customer-facing teams.
McKinley Marketing Partners provided consultant with extensive marketing analysis and product development experience in the telecommunications industry.
Solution
At the start of the project, the consultant conducted a comprehensive analysis of national, regional and local pricing plans as well as bundled and unbundled product offerings across all product segments. Data analysis and field research was utilized to uncover product and business process gaps.
Through his analysis and research, he discovered:
- The bundled services group had the highest rate of churn
- Each product had a different contract period with the inability to have all products on a one term contract period
- Billing systems were producing multiple bills to the same customer for multiple products
Based on his findings, the business analyst created guidelines and requirements on restructuring product and pricing plans to help customers understand their total service package. He worked cross-functionally with stakeholders to find solutions to the program’s issues. As a result, customer churn was reduced significantly and bill cycles were reduced.
The ultimate benefits to the client included:
- The business analyst recommendations decreased customer dissatisfaction to 30-35 percent from 70-80 percent in Phase I of recommendations
- Phase II delivered 90 percent customer satisfaction
- Rates improved dramatically from the initial 2 percent take rate due to a new sales script for the outbound calling programs
- Data from these calls were inputted into a database to continually evaluate churn rates and receivables
