The Flytxt CVM Accelerator raised revenue per user by 1.3%
Artificial intelligence (AI) can definitely make customers more profitable, claims mobile virtual network operator (MVNO) Lyca Mobile, which is launching the Flytxt’s CVM Accelerator in the US and Europe after a successful trial. In a one-month pilot programme, it increased the average revenue per user (ARPU) by 1.3%, the MVNO claims. Now Lyca Mobile aims to use this tool in its seven most lucrative markets: Belgium, France, Germany, Italy, Netherlands, the US and the UK.
On the Flytxt
AI can inform customer value management (CVM) systems and give mobile operators like Lyca Mobile insights into their customers’ transactions with the network, according to Flytxt. The goal is to get the maximum value from every ‘personalised customer interaction’ through customer experience (CX) systems like Salesforce Marketing Cloud.
Personalise
Somehow these cold, anonymous and clinical machine-processed interventions produce a Customer Lifetime Value (CLTV) maximization of personalised human interactions. The CVM Accelerator uses Flytxt’s analytics and AI, which have been trained to using ‘real-world insights’ and patterns from more than a billion consumers and trillions of data points. They didn’t provide any examples of these insights or patterns might be, however. If a customer is watching a Youtube video on their mobile phone, the network might automatically offer the customer better options.
Know your customer
It works, that’s the main thing, according to Jogan Satkunanathan, Chief of Pricing and Product Management at Lyca Mobile. “We wish to place customers and digital capabilities at the centre of our business strategy,” said Satkunanathan. Flytxt’s pioneering AI system is perfect for helping Lyca Mobile understand its customers’ needs better and give them high quality customer experiences, Satkunanathan said.
Blind data
Communications service providers are all data and no experience, according to Flytxt CEO Dr Vinod Vasudevan. However, customers will get a better feeling about their phone service if “well-trained AI” intervenes. The CVM accelerator can achieve this, he said. “Our unique solution will significantly boost the outcomes of their customer experience initiatives.”
It works
“Flytxt’s CVM Accelerator brings in a deeper understanding of customers’ usage behaviour and predicted needs,” said Ankit Rai, Lyca Mobile’s Head of Retention, “the pilot project proved that.”