Global Telecommunications Provider Improves Hispanic Customer Win-Back Program

CUSTOMER LOYALTY AND WIN-BACK PROGRAMS

Over the past decade, businesses have realized the importance of customer loyalty and retention. The old rule of thumb that it 'costs five times more to acquire a new customer than retain an existing one' is causing many companies to commit substantial resources to keep customers happy. While churn rates are slowing somewhat, companies are losing an average of 20% of their customers each year. The telecommunications industry is particularly vulnerable with customer acquisition rates north of $350 and churn anywhere between 10 and 67 percent each year.

This trend has led to Customer Win-Back Programs, or simply put, trying to re-acquire customers lost previously. A good Win-Back Program allows companies to realize potential profits by rebuilding customer relationships, minimizing new customer acquisition costs, reducing negative word of mouth, and developing a profile for lost customers to minimize churn in the future.

HISPANIC MARKET IMPORTANCE

Hispanics are the fastest growing segment in the United States and marketing to them is an integral part of many companies' growth strategies. Each year, major companies across all industries invest billions to reach Hispanic consumers. In the year 2020, the Hispanic American population is projected to reach 59.7 million and by 2050 is expected to reach 102.6 million. By 2050, Hispanics will be 25% of the US population. The purchasing power of the US Hispanic market is estimated at over $1 Trillion. Over 31 million US residents age five and older speak Spanish and Spanish is the second most spoken language in the US.

Hispanic Americans are Americans with origins in Latin America and Spain. They are often divided into sub-groups including Mexican Americans, Puerto Rican Americans, Cuban Americans, Dominican Americans, Central Americans and South Americans, among others. Hispanic Americans have the highest population concentration in California, Texas, Florida, New York and Illinois, yet have the highest population growth rate in areas including Arkansas, Georgia, South Carolina, Tennessee and North Carolina.

LEADING TELECOMMUNICATIONS PROVIDER

For more than a century, this leading telecommunication provider has been providing telecommunication services to both businesses and consumers. They are recognized as the leading provider of IP-based communications services to businesses. They also have the nation's fastest mobile broadband network and the largest international coverage of any US wireless carrier, offering the most phones that work in the most countries; the largest Wi-Fi Network in the United States based on branded and operated hotspots; and the largest number of total broadband connections in the United States.

THE CHALLENGE

This leading telecommunications company had higher than desired churn rates, especially in their Hispanic Market segment. They needed to find a solution to win back their Hispanic customers cost-effectively. Developing a strong Win-Back Program is challenging in itself, but trying to win back Hispanic customers throws in additional complexities. Like many companies, this telecommunications company believed that you could simply translate your marketing messages and calling scripts into Spanish and Hispanic customers would respond just as well as non-Hispanic customers. The company tried utilizing its internal contact center agents but just didn't have the expertise in-house to make the program successful. They needed to find a partner that not only had proven experience with Win-Back Programs but also had a deep understanding of how to reach the Hispanic Market.

THE SOLUTION

Etech Global Services understands the intricacies of the Hispanic Market and how to effectively market to this important segment. Through much market research and customer intelligence, Etech Global Services has learned that most Hispanics in the US are bilingual and companies cannot simply assume Hispanics want to do all their communications or transactions in Spanish or English. The agent must be able to communicate with them effectively in whatever language the customer feels most comfortable for that situation. Etech Global Services has learned that simply translating an English script into Spanish isn't effective either. There are many intricacies within the Spanish language and a poorly translated script or message is very off-putting to any customer, in any language. Unfortunately, it seems to be a "one strike and you're out" mentality. If companies don't get it right the first time, the customers usually don't give them a second chance.

HISPANIC MARKET INTRICACIES

The leading telecommunications provider did an extensive search to find a third party vendor that could help them improve their Hispanic Customer Win-Back Program. After going through the RFP process and considering both onshore and offshore solutions, the company contracted with Etech Global Services and their bilingual center in Texas. With Texas having a large concentration of Hispanic Americans who speak both English and Spanish fluently, Etech Global Services is able to hire the best and the brightest bilingual customer service and sales agents.

Etech Global Services developed a Hispanic Customer Win-Back Program strategy that effectively reached Hispanic Americans. In just three short weeks, Etech Global Services launched the Win-Back program. Some of the keys to the success of the program included:

• The sales script was developed from scratch to specifically address the intricacies and motivations of Hispanic Americans.
• The agents were fluent in both Spanish and English enabling them to speak flawlessly in whatever language the customer felt most comfortable.
• Etech Global Services provided follow-up sales material and email communication upon request in Spanish.
• Etech Global Services gathered business intelligence during the initial stages of the Win-Back Program to understand the customer's needs, motivations and behaviors and used this information to enhance the Win-Back Program.

The Win-Back Program that Etech Global Services provided for the telecommunications company was supported with a highly-effective Quality Assurance program. All of the calls and customer communication was recorded and agents were evaluated and coached for continual improvement. This allowed Etech Global Services to ensure that all agents were strictly following the Win-Back strategy and also provided the company with transparency into the program. In addition, the call recordings were used to understand how the customers were responding to the various Win-Back offers and allowed the company to modify their offers to combat competitive pressures and customers' desires.

RESULTS

When the program first launched, Etech Global Services immediately generated more revenue per hour than the client's internal team. Over a few short weeks, the Etech Global Services team was able to refine the program and greatly exceed the client's goals and expectations.

Etech Global Services and this leading telecommunications company have been working together now for over three years. Etech Global Services continues to provide stellar results for the company's Win-Back efforts. The program has grown 300% over the past three years and 41% of their outbound efforts are geared toward winning back Hispanic customers. Now that the Hispanic Win-Back Program has proved so successful, the company plans to transfer their English speaking Win-Back Program to Etech Global Services.

WHO IS ETECH GLOBAL SERVICES?

Etech Global Services is a leading provider of intelligent sales and service solutions utilizing inbound and outbound voice and web chat. We understand the importance of customer relationships. That's why all of our solution strategies are driven by the 'voice of the customer'. Our stringent QA process ensures an ever-improving customer experience. We also gather critical business intelligence data from each customer interaction. And we do everything with the highest integrity and quality possible. These differences allow us to provide industry-leading service, stellar CSAT scores, and high performing sales and service solutions that enable our clients to increase revenue and delight their customers.

Contacts

call us at 936-371-2640
visit our website www.etechgs.com
email us at info@etechgs.com