Churn is a four-letter word for carriers. One of the biggest challenges they face is identifying which customers are likely to abandon ship any time soon — and finding a way to keep them on board.
Before the arrival of the public cloud, charging engines were slow and could only handle a limited number of rate plans. This presented something of a nightmare for carrier marketing teams that have been forced to design one-size-fits-all plans. As we all now know, one size most emphatically does not fit all.
Enter Totogi, the new software specialist that harnesses the magic of artificial intelligence (AI), machine learning and the public cloud to predict and prevent churn by enabling carriers to take a more personalised approach to potential so-called ‘churners’.
Totogi Auto Plan, powered by an ‘AI churn engine’, promises to drive millions in savings by reducing churn. In fact, its claim is that it can reduce churn by as much as 20%.
Danielle Royston, CEO and founder of TelcoDR, serves as the acting CEO of Totogi and recently announced a $100 million investment in the company.
As she explains, Totogi Auto Plan constantly monitors all the data that is fed into it — and then predicts which customers will churn and which ones will stay. It essentially creates cohorts of churners that can be targeted by specific retention plans.
Indeed, the beauty of Totogi Auto Plan is that it automatically creates hyper-personalised plans, achieving pinpoint precision at scale. It can also give each subscriber a churn risk percentage, allowing compelling offers to be targeted at the most vulnerable customer segments.
To use Totogi Auto Plan, you first need to implement the Charging Engine and Plan Design elements of the company’s charging system. However, Royston has also said that due to huge demand, the AI churn engine has been broken out so carriers can start using it immediately. Just check out the company’s AI Insights offer to find out more!