Audience Engagement Solution
VoicePort launches new product, Audience Engagement Solution (AES)
Rochester, NY — The use of analytics has become a strategic cornerstone in business development strategies throughout the newspaper industry. This data can provide a better understanding of subscribers, their habits, and their desires.
VoicePort has produced an innovative and reactive solution to assist with retaining customers. The Audience Engagement Solution (AES) segments customers based on known attributes such as age, customer life value, and digital subscription habits. This provides an opportunity for newspapers to better understand their customers while also preventing the subscribers from ending their subscription.
A practical example of our solution can be seen with Newsday, a newspaper that serves the greater metropolitan New York area. The company has recently implemented our system to route their subscribers in a smarter way by using customer and call center representative data. If Newsday increases their stop-save percentage by just 1%, there would be $200,000 more in revenue per year and $740,000 more customer life value. Newsday has used a Predictive Probability of Save model and it is anticipated that the stop-save percentage will be between 5-8%.
The stop-save percentage increase can occur by utilizing a similar solution as Newsday has implemented with our Audience Engagement Solution. Newsday has started to route smarter by matching subscribers with customer service agents based on their performance, which less than 12% of newspapers do. As an example, if a subscriber calls into the IVR to end their subscription, a list of information will be provided to the best suited representative. The information provided can include: recent complaints, digital engagement, start source, age, income, and churn score. The agent that has the highest percentage of stop-saves in the certain demographic match will have this specific subscriber routed to them.
Overall, subscribers are expecting to receive a quick and personalized approach to our customer service. According to a recent study, 73% of individuals rate their customer service experience based on how quickly the matter can be resolved. By matching the best suited customer service representative to each subscriber that calls in, the issue can be resolved quickly and efficiently. VoicePort’s new solution will combine vital subscriber and representative data to achieve increasing the stop-save percentage and providing swift customer service.