Broadband: Identify In-market Prospects and Reduce Customer Churn
Through instant access to Home Move Triggers, this broadband supplier was able to identify customers most likely to move and predict their move dates with confidence.
More and more consumers are choosing to switch broadband providers on a regular basis in order to seek out the best deal and when people move house this is the time they are most likely to switch. This offers brands an opportunity to acquire new customers but also are at high risk of losing current customers.
There is a relatively short time period of consumers being ‘in-market’ where they re-assess their utilities and telecom providers. This requires providers to engage with prospects and customer at the right moment with a compelling and relevant message. This global broadband provider felt they were falling short of identifying that optimal point and were missing out on opportunities to acquire new customer and retain existing ones.
Outra has built Home Move Triggers for renters and homeowners based on our proprietary Property Data set of 29 million homes in Great Britain. The model also considers property value trends at individual property level and wider levels of geography as well as a history of listings and surveyor events from an exclusive data set of over 20 years of mortgage data. By combining this data with our leading-edge data science techniques, we have developed the most comprehensive set of 130,000 monthly triggers. The model is constantly updated as new data becomes available and refined to reflect changes in the property market.
The triggers identify those customers most likely to move as well as predicted move dates so that an early view of risk and opportunity can be gained. Movers can be predicted with a higher level of accuracy than ever before. We provide the associated confidence scores alongside the triggers to allow the user to decide the level of accuracy required.
Our client has instant access to Home Move Triggers, refreshed weekly, through our API. A clear view of home movers enabled our client to be able to more accurately communicate with existing customers and prospects at the right time, therefore increasing their retention and acquisition rates. Property attributes and life-stage indicators can also be provided which further refines the marketing message to ensure it is relevant as well as timely.