Sunday, May 19, 2024

    Paywizard launches consumer engagement tools to expand Subscription, Billing and CRM platform

    Paywizard, a specialist in subscriber management for pay-TV, is launching a number of new marketing and consumer engagement tools as part of an upgrade to its subscription, billing and CRM solution, Paywizard Agile.

    The new features directly align with the critical Decision Moments when consumers interact with a pay-TV service: Find, Join, Consume, Upgrade, Downgrade, Bill, Leave and Win Back. These enable operators to target customers with highly effective acquisition and retention tactics at these critical Decision Moments of the subscriber journey.

    Paywizard’s new Decision Moments dashboard has been designed to allow operators to track their progress at each Decision Moment and proactively manage their customer base.

    Using the dashboard, operators are able to select specific Moments and structure activity around that particular stage of the subscriber journey.

    Under Find for example, operators can see all people who have registered an interest with the service but not signed up, and create targeted engagement campaigns as a result. Likewise in the Win Back tab, operators can view customers who have terminated their contact, in order to drive churn reduction campaigns.

    The tools also include a range of powerful marketing tools to support targeted campaigns aimed at growing subscriber volumes, increasing ARPU from existing customers, reducing churn and extending the customer lifecycle.

    There are also fast subscription creation capabilities, allowing customers to sign up with minimal details (username, email address, and password/PIN) and change personal details easily. Quick registration is critical for streamlining the Join process, which consumers expect to take just seconds and be pain-free.

    Real time insights, applicable to all Decision Moments, including active churn analysis and monitoring of subscription movements to feed into marketing initiatives. Granular analysis can also identify which platforms and packages are effective for attracting new customers.

    The platform will also allow monitoring across all Decision Moments, the ability to track positive and negative interactions with customers, including purchases, payment status, offers and communications received.

    Paywizard Agile also offers multiple platform support that enables a single subscription to be set up for multiple devices, and has extremely secure financial workflows for repeat billing, payment collection and financial reports. Its deployment on Amazon Web Services brings the advantages of cost effective scalability and 24/7 proactive service monitoring, while enabling customers to get to market quickly.

    Bhavesh Vaghela, CMO of Paywizard, explains: “As the pay-TV and pay-OTT landscape becomes more competitive we’re seeing consumers starting to adopt a ‘dip in and out’ approach. Pay-OTT services, for example, are experiencing staggering churn rates of around 6% per month and this is forcing operators to redefine their business models with greater emphasis on customer service. Now more than ever, it is vitally important for operators to identify with their customers at each step of their journey, and have the tools in place to keep them happy, engaged and loyal. Our enhanced platform takes the great insight we have about consumer behaviour and presents it in a way that is useful to our customers, allowing them to pursue a more personalised and targeted approach to subscriber management. This is just one example of how we are shaping our technology to align with these critical consumer Decision Moments, which form the foundation of successful consumer acquisition and retention.”

    The launch of the latest Agile platform aligns with findings from Paywizard’s March 2016 research project with Decipher, which explored the attitudes of SVOD subscribers in the US and UK. Focus groups revealed that customer service and experience are now seen to be as important as content and value for money when differentiating between TV services. Consumer satisfaction with a service was found to be strongly dependent on how TV service providers act at each Decision Moment, highlighting the value of having strong tools in place for engagement with customers throughout the subscriber journey. The first Paywizard ebook exploring this research further is available here.

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