Thinking Smarter Lifts Results $2.8 Million Per Month
Time Warner Cable wanted to improve their collections program. Varolii proactive communications showed them how to do it.
Implement a simple solution that would • not require additional resources from Time Warner Cable
Continue to improve collections • performance with Varolii
Run Varolii Predictive Analytics and Segment Decisioning to scientifically determine the most effective time, message and method to automatically reach out to delinquent customers and collect.
· 14.6% or $2.8 million a month • improvement using Varolii automated notifications and analytics
· $1.6 million in net benefit per month • using Segment Decisioning over business as usual
· 15:1 ROI (payback on set up costs is • less than two days)
Automation Brings Immediate Payoff
When Time Warner Cable (TWC) automated the process of making outbound collections calls, using interactive pre-recorded and personalized messages over voice, email, and text, they greatly increased their customer reach and reduced operating costs.
They also achieved 14.6%, or $2.8 million a month improvement over the company’s prior collection methods.
Smart Analysis — Even Greater Results
Often, deep analysis can bring about major results. In Time Warner Cable’s case the results were huge: out of their $2.8 million improvement, $1.6 million was a direct result of fine tuning and analysis. By determining optimum entry into Varolii treatments and optimum duration of the treatments, the company was able to make an even greater impact on their bottom line.
Predictive Analytics — A Map for Success
By measuring the results of current automated communications methods against existing standards, Predictive Analytics can determine:
When • to treat
How • long to treat
Who • to treat with which treatment
Employing just two of the factors – when to treat and for how long – TWC discovered that Segment Decisioning would best determine communication variables with the highest probability of getting the 200,000 customers they phoned monthly to take action...or, to pay.
Segment Decisioning Targets Best Audience and Scenario
Results showed a 14.6 percent lift in payments per month using Varolii Segment Decisioning. This process looks at customer response data and “segments” target audiences into common groups, allowing for targeted treatment and messaging.
Segment Decisioning can be used to evaluate an endless variety of factors, such as whether customers are being contacted too little, too much, or the right amount, and such treatment strategies as the best calling windows, most effective media (voice, email, text message, or combo), and the right “persona”, or tone and style of the message.
Adopting Analytics Improves Results
Regardless of their current success, companies who adopt Predictive Analytics strategies can further improve results. Significant gains are possible from optimizing entry and duration, and with Varolii, organizations have a one-stop-shop for implementing an automated contact strategy and analytics.
Varolii helped TWC increase collections by $1.2 million a month over business as usual; Adding Varolii Predictive Analytics raised an additional $1.6 million more per month for a total improvement of $2.8 million per month.
Varolii® provides on-demand communication software and services that enable organizations to more effectively reach and interact with their customers and employees, getting the best result from every interaction.