Medio Debuts New Customer Retention Service for Mobile
Predictive Analytics Platform Boosts Customer Retention and Loyalty and Proactively Reduces Churn
SEATTLE--May 17, 2011--Medio Systems, a leading mobile Internet software and predictive analytics provider, announced today the launch of a new customer retention service that enables an easy, proactive mechanism for rewarding loyal customers. Wireless operators, handset manufacturers, mobile publishers and enterprises can use Medio’s service to deliver relevant offers to targeted customers directly on their smartphones. The service harnesses the power of Medio’s proprietary predictive analytics platform and its massive dataset of over 70 million users’ mobile behavior patterns to deliver customer engagement rates that are approximately three times higher on average than traditional direct marketing methods.
“The cost of retaining mobile customers in the U.S. will soon surpass $10 billion on an annual basis,” said Rob Lilleness, president and CEO, Medio Systems. “Traditional means of contacting customers to prevent churn such as direct mail, telemarketing, and inbound customer care promotions are expensive and typically only result in acceptance rates of 1%. As the industry transitions from acquiring customers to retaining them, Medio’s mobile optimized predictive analytics will help operators and handset manufacturers find new ways to reward and keep loyal customers.”
Since launching with a major U.S. mobile operator in February this year, Medio’s customer retention service has seen offer acceptance rates averaging between 4-5 percent. For consumers, the service enables them to learn about relevant offers at their own convenience and sign up for these with just a few clicks using their smartphones. For example, users with Android handsets may see a message in the Android notification tray from their service provider, click on it, and find an offer for a free month of service or a discounted price on an upgraded device if they extend their contract. They can easily review the terms of the offer and accept it on the device itself, without having to talk to a customer service representative or go to a separate website to sign up.
Medio’s product also delivers real-time metrics on offer performance, letting providers know immediately how customers are responding to offers and which offers are seeing the highest acceptance rates. Operators have already been using Medio’s data and analytics platform to provide recommendations for mobile content and applications. Now they can take the application of analytics one step further and reach out with retention offers and upgrade suggestions. Since Medio’s predictive analytics system is mobile optimized, it can take into account not only customer usage patterns and previous history but also “real-time” mobile-specific attributes such as geo-location and installed applications when making targeting decisions. Further, customer’s responses to offers can be delivered directly to operators’ backend customer-care systems, enabling easy and cost-effective end-to-end fulfillment.
About Medio Systems
Medio Systems is a leader in an emerging class of companies that use predictive analytics to provide targeted content, helping customers transform data into action and value. Medio enables mobile operators, handset OEMs, and publishers to launch and manage a broad set of applications, content, and offerings quickly and easily, while retaining carrier-class quality, reliability, scalability, and performance. Medio is a privately-held company backed by Accel, Frazier Technology Partners, Trilogy, and Mohr Davidow Ventures. The company is headquartered in Seattle. For more information, visit www.medio.com.