Media Release November 18th, 2003
Quadstone Introduces WNP Offering to Combat Customer Churn Related to Wireless Number Portability
Customer Analysis Veteran Leverages International Experience in Number Portability to Help US Carriers Predict and Save High Risk Customers
Boston, Mass. - November 18th, 2003 - Quadstone, the leading provider of customer analysis software for agile business, today introduced its WNP (Wireless Number Portability) offering to help providers predict, and put in place save offers for those customers most likely to churn as a result of the new U.S. wireless local number portability regulation effective, November 24, 2003. Drawing on its unparalleled experience with leading European wireless providers such as T-Mobile, Telenor and Vodafone, Quadstone is strongly positioned to help U.S. providers quickly identify customers most at-risk, and effectively implement solutions for retaining those customers. Quadstone's WNP offering is unique in equipping analysts and business managers with the tools to collaborate and go beyond simply predicting which customers are likely to churn, to understanding why those customers might switch services, as well as identifying which customers are most likely to respond to a save offer.
Wireless Number Portability allows customers to switch services while retaining their current phone numbers. By relying on pre-WNP customer-retention strategies and models, service providers are at risk of losing large numbers of customers historically considered loyal. Studies indicate providers are likely to lose upwards of 30% of customers to better offers; the impact to revenues lost is predicted to run in the billions of dollars. Providers must be ready to explore, model and exploit new data immediately after the new regulation goes into effect. Current churn management solutions are based on the premise that last month's churners look like this month's churners. History has shown that WNP radically changes the marketplace and customer behaviors. Quadstone's WNP offering is based on three key components designed to manage this rapidly changing landscape:
Quadstone's WNP offering combines years of knowledge in customer analytics with dynamic interactive software, allowing analysts and executives to collaboratively explore high volume data and test hypotheses in real time. The impact of this efficient predictive modeling-to-action process is what sets Quadstone apart and helps build customer value for service providers.
“Wireless Number Portability turns current thinking about identifying high-risk customers on its head. Customers who were once considered loyal might have been so only because of their reluctance to change cell phone numbers,” said Mark Smith, President, Quadstone-US.
Quadstone's WNP Program: Gain control of customer churn in 10 days To minimize the impact of the new number portability rule on customer churn, Quadstone provides the wireless carrier with tools to analyze and understand the root causes that drive customer decisions.
Quadstone's WNP engagement process includes:
For details on Quadstone's WNP offering or to set up an informational meeting, please call 1-800-821-8031 or 1-617-457-5200.