At iQor, we use a data-driven approach to help our clients proactively analyze customer behavior and develop contact strategies that build loyalty and keep at-risk customers. We help companies institute a methodical process for “listening” to customers and the market, identifying signals and patterns that often precede customer attrition, and developing specific recommendations, down to the individual customer level, to address the situation.
We create customized solutions for each client that ensures long-term account stability. Our Quantum MatchSM analytics engine assembles and integrates our own database of rich consumer data with external market information and, where possible, our clients’ enterprise data, to help determine the loyalty profile of customers. We then build an early warning system that highlights customers at risk and the most appropriate communication strategies (using customer history to match contact strategy) to prevent churn. When a customer does call to cancel service, iQor has a set of procedures to not only retain the customer, but to identify family and friends who could also be at risk.
As part of our 1st party collections services, iQor also focuses on long-term customer retention with the objective of resolving short-term delinquencies with customized solutions (restructured payment plans, right-sized service packages, etc.) that prevent churn.
Advanced algorithms mine data flow from iQor’s proprietary database and other sources to identify predictive signals of customer attrition
Contact strategy matched to previous customer history to determine most effective outreach method
Call routing based on customer profile to get them to the “right agent at the right time”
Whole account handling: use customer history to adjust service levels or payment methodologies
Combine iQor’s massive data reserves with client and external market data to achieve significant improvement in customer retention and revenue protection
Identify deeper insights into customer behaviors, spotting signals and patterns that identify those likely to defect, allowing proactive actions to keep the most valuable customers
Savings due to reduced repeat delinquencies