The message is clear: smart data produces strategic recommendations and action items and can yield tangible significant improvements to a digital media and entertainment company’s customer engagement programs. • Minimized Cost of Service: improvements in digital channel customer interactions, productivity/process efficiency, average issue handle time, and reducing training time • Minimized Technology Cost: Decreases in time to deliver, deployment costs, integration costs, and ongoing maintenance costs Conclusion In the hypercompetitive digital media and entertainment space today, consumer data is critical for OTT services and other companies in the ecosystem to understand the preferences, behaviors, and tendencies of their customer base. Emerging data enhancements such as AI and machine learning have significantly enhanced the quality and robustness of the data that is collected. Smart data allows OTT services and other digital media and entertainment organizations to be better able to formulate actionable strategies to serve their customers at an optimal level. Artificial intelligence and machine learning will continue to be an essential component of a digital media and entertainment organization’s toolkit in their efforts to acquire, engage, and retain customers. Those companies that do not effectively integrate smart data will be left far behind more forward-thinking, data-centric organizations in the ongoing battle for the ever-elusive digital media and entertainment consumer. Achieving Success through Smart Data Digital media and entertainment companies have a variety of ways that they measure success of their customer engagement and retention programs that utilize actionable smart data. These success factors can be grouped and categorized into the following framework. • Increased Revenue: increases in sales opportunities, referral rates, digital orders, and the speed of new product launches in the market • Improved CX: increases in percentage of first contact issue resolution, call transfer rate, customer satisfaction/NPS, and order speed and accuracy
A leading European-based digital media company achieved significant improvements in their customer engagement and retention efforts that strategically integrated smart data. Key success metrics were significantly improved in areas such as subscriptions, customer service, and service cost management.
New Sales
+300
New POs added in 1 year
-55%
Average order entry time
-50%
Reduced # of promos
Digital Field Service
-80%
Activation Calls
Upselling +10K Per Year -80%
Fewer errors due to improved order accuracy
Customer Service
-20%
Call Handling Time
Agent NPS +41% -70%
Agent training time
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