Supporting a strategy consulting firm in devising the customer loyalty strategy for a global OTT services provider
Posted by | Fuld & Company
Background & Challenge
A strategy consulting firm was working to formulate a customer loyalty strategy for one of its clients, a subscription-based video streaming services provider. The OTT provider was struggling with customer turnover and lack of subscription renewals, and the client aimed to help it drive subscriber engagement and retention.
The client asked Fuld & Company to conduct a market study to analyze customers’ needs pertaining to loyalty, including customer perception of it, their behavioral drivers, and the key trends in this area, to gain insights into customer behavior and best practice.
Fuld & Company’s Solution
Fuld & Company conducted extensive research to gather insights into customer loyalty, using both publicly available sources and subscribed databases. The team analysed several surveys, news articles, whitepapers, etc., to identify the key factors that impact customer loyalty, emerging trends within the space, and examples of loyalty initiatives, etc.
The team also analysed various drivers across different countries and categorized them into ‘super-drivers’ and ‘drivers’ to highlight the most critical factors that affect customer loyalty globally. To provide a comprehensive analysis, the team then mapped the initiatives undertaken by each of the players against the loyalty drivers which were identified.
The insights also included details of various technology platforms that brands use to analyse customer behaviour using customer analytics, which in turn helps drive sales, improve customer experience, and maximise business value.
Outcome for Client
Fuld & Company provided the client with a deep understanding of customer behaviour and key trends for loyalty. The client leveraged the findings to provide recommendations to its end client (OTT provider) to form an effective strategy to improve its customer retention and loyalty.
Tags: Strategic Planning