Many potential cable/MSO industry customers are rejected due to their poor financial health or choice of payment method. To ensure continued customer growth for this very mature industry, creative financial approaches are key to securing subscribers.
The Challenge
Customers seeking new cable services from a leading U.S. Cable provider and long-time ResultsCX client experienced account rejections when they:
- Failed credit checks
- Refused credit checks
- Requested alternative payment arrangements
The Solution
To improve customer acquisition, agents made outbound calls tailored to customer’s individual financial situations:
- Offered alternative payment options to match customer situations and needs
- Enabled customers who failed or rejected credit checks to pay deposits for post-paid cable services
- Customers refusing post-paid arrangements were offered prepaid services with 7- or 30-day refills
- Used lifestyle discovery questions to upsell additional products
The Results
ResultsCX’s success led to the adoption of this program for all client divisions:
- 2100 estimated new customer sales and 3000 estimated revenue generating units added annually since program launch
- $700K generated in additional annualized EBITDA
- Increased NPS scores by as much as 60%
- Lowered customer acquisition costs