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Frictionless Retention Support Helps Streaming Entertainment Company Improve 
Loyalty and Generate $1.7 M in Additional Revenues

Frictionless Retention Support Helps Streaming Entertainment Company Improve Loyalty and Generate $1.7 M in Additional Revenues

Industry

Media

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The escalating competition and rising subscriber churn present formidable challenges to streaming entertainment companies. These companies must anticipate subscriber churn and enhance value through personalized engagement strategies to foster loyalty, safeguard revenues, and effectively navigate the competitive landscape.

The Challenge:

Amidst the escalating streaming wars, a well-established U.S. streaming entertainment client found themselves grappling with substantial subscriber churn. The challenge was exacerbated by instances of non-payment of subscription dues, posing a direct threat to their revenue streams. Recognizing the pivotal role of positive CX in enhancing subscriber satisfaction and fostering loyalty, the client made the strategic decision to collaborate with ResultsCX, leveraging our market-leading Customer Experience Management (CXM) capabilities.

The Solution:

Our team of experts designed and deployed a two-pronged solution aimed at improving customer retention and revenues. On one hand, the solution empowered our agents through targeted training, coaching, and best practices. On the other, it enabled hassle free engagement with customers who exhibited signs of potential churn, such as non payment of dues.

  • Incorporated robust retention strategies on all collection non-payment out-bound calls, eliminating retention call transfers and potential customer fall outs.
  • Enabled targeted product training and best-practice adoption โ€“ in partnership with our internal Retention Account Team โ€“ equipping agents with stronger retention feature/benefit presentations aimed at mitigating churn.
  • Expedited agent speed-to-proficiency โ€“ through roadshows leveraging internal retention call mix โ€“ showcasing the attributes of a solid retention call, including key transitional phrases.
  • Conducted internal listening sessions (post-training) to drive continuous improvement in agent performance.

The Results:

The streaming entertainment client realized several tangible outcomes including:

  • 5k customers retained and an estimated $1.7M in revenues for 2023
  • 20% improvement in customer cure performance from Q1 to Q4 2023
  • 100% elimination in retention call transfers due to ability to solicit retention offers

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