Fixed Mobile Convergence

In any industry, knowing each individual customer’s preferences will provide a company with a huge advantage over its competitors.

A study released by Acxiom Corporation reveals that the wireless industry is no different in this regard. In its first Communications Consumer Dynamics study, Acxiom (News - Alert) states that wireless providers can adjust to customer engagement plans if they know consumers on a more personal level.

An understanding of customer preferences will help companies reduce the cost of services -- which customers sometimes do not need. This will help service providers earn trust and loyalty, the study opines.

The study divides customers into three groups -- High Bill/Contract, High Bill/Monthly, and Medium Bill/Monthly. According to the study, these groups together comprise of 36.4 percent of U.S. households and they are likely to be considering a switch in the near future.

“Service providers need to understand individual consumers on a whole new level,” said Greg Hogue, Acxiom communications industry executive, in a release. “If they know consumers’ interests, needs, usage and personal situation, then marketers can tailor products, offers and messages in a much more relevant and effective way. Consumers looking ahead to a possible change of providers rated the importance of price, technology and service.”

According to the study, the High Bill/Monthly segment is at greatest risk of churn. When a bundled text plan or higher-minute plan would save them money, these consumers are most likely to be paying for unused services or overpaying. The study also validates the need for marketers to adapt to change. The study segments wireless customers on a combination of Household Bill Size and Customer Type.

Recently, the company entered a new partnership with EMC Corporation (News - Alert) as part of an effort to provide clients with the ability to remotely protect data residing on their desktop computers and laptops. Based on EMC’s “Mozy” remote back-up service, Acxiom” Online Backup-X” enables Acxiom clients and prospects to store and recover files on-demand from their desktop.