November 11, 2011
It’s expected that Christmas 2011 could see an astonishing £1.64 billion spent by consumers through their mobile phones, becoming the first Christmas where mobile payments play a predominant role in the festive shopping period.
Researched announced by shopping comparison site Kelkoo shows that the UK leads Europe in terms of mobile payments with 45% of all mobile purchases in Europe expected to be made by Brits this Christmas. Additionally, mobile payments carried out on tablets and smartphones are estimated to make up 10.7% of all festive purchases made across Europe. That’s £3.68 billion worth of mobile transactions.
Chris Simpson, Chief Marketing Officer at Kelkoo, said: “Our advice to retailers that are not geared up for mobile shoppers is to make sure they invest as soon as possible, otherwise they will miss out on a very lucrative shopping platform which is expected to account for more than one in ten online purchases this Christmas.”
Earlier in the week, PayPal and eBay announced, via infographics, that they were expecting a huge increase in users purchasing goods through their smart devices this Christmas. In fact, PayPal announced that they are currently processing around $10,000 (£6,200) of mobile payments every minute.
Mobile Payments is big business, and with global mobile payments value to reach £400 billion by 2015, it’s a telecoms sector that everyone is keeping a close eye on.
(Sources: Retail Gazette, Read Write Web)
November 2, 2011
As the mobile industry becomes more competitive, with bigger and faster services being offered to customers, it has become increasingly important that you design an effective churn model that will differentiate you from your competitors.
Predicting and tackling churn is one of the most important aspects of an operator’s customer relationship strategy as it costs considerably more to attract new customers than it does to keep them. It’s in the operator’s best interests to hold on to their high revenue customers – but how do you create an actionable churn model to prevent them taking their business elsewhere?
Designing your models to discover those who are likely to leave as early as possible is a key factor to incorporate in any attrition model. The customer may already be unhappy with the service received, or they may have already complained before and be attracted by the offers that your competitors are advertising. It’s important to get in contact with the disaffected as early as possible to ensure the customer that you not only value their custom, but are making active efforts to prioritise them.
Additionally, it will also be beneficial to expect and detect in your models any false positives that show customers are likely to churn when in reality they won’t. These customers could ultimately feel less favoured as a result of being identified as potential churners and most will have been customers for quite a while. It’s probably key here to introduce these customers to a loyalty scheme which will make them feel more valued.
What other aspects of your churn model should you tackle? Read the full article here.
How can operators build effective churn models? let us know your thoughts below.