麦肯锡-电信行业报告-客户生命周期管理

Q4_Wireless_v59/9/034:18PMPage8283withtelecomAdamBraff,WilliamJ.Passmore,andMichaelSimpsonCarrierscanincreasetheirprofits—bygettingmorevaluefromexistingcustomersandbeingmoreselectiveaboutnewones.TGoingthedistanceelecomserviceprovidersintheUnitedStatesfaceaseaoftroubles.Inwireless,thedaysofdouble-digitmarketgrowthareover,leavingcompetitorstofightforoneanother’scustomers.Inwireline,realrevenuesforlocalandlong-distancecallsarefallingwhilecompetitionfromnewentrantsistakingmarketsharefromincumbents.Cableoperatorsaresuf-feringfromweakbalancesheets,toughcompetitionfromdirect-broadcast-satelliteservices,andsharplyrisingprogrammingcosts.Notsurprisingly,sharepricesinthesectorhavetumbledfromtheirhighsin2000,buteventoday’sdepressedpricesarehardtojustifywithoutmuch-improvedmargins.Unfortunately,mostindustryCEOsarefocusingonmargin-improvingtech-niquesthatareeitherhardtopulloff(suchasconsolidationandtrulydiffer-entiatedproducts)ordifficulttoconvertintoasustainableadvantage(suchascostreductions).Buttheserviceprovidershavesofarunderappreciatedanalternative:maximizingtheirnewandexistingcustomers’lifetimevalue.customersQ4_Wireless_v59/9/034:18PMPage83Thevalueofthisapproach,knownascustomerlifetimemanagement(CLM),hasbeenprovedbyseveralleadingfinancial-servicesplayers.1CLMinvolvescapturingandanalyzingdataaboutcustomersforthepurposeofmarketingtoandservingthemonthebasisofthevaluetheyareexpectedtocreateduringtheir“lifetime”withthecompany.Leadingpractitionersannuallydevelopandtestthousandsofnewofferstargetedatnarrowlydefinedcustomersegmentsandrapidlyscaleuponlythemostsuccessfulones.Telecomcarrierscansecureacompetitiveadvantagebyusingsimilartechniquestoextractmorevalueandprofitfromtheircustomerbase.Althoughsometelecomcarriershavestarteddownthispath,nonehaveembracedCLMasacoreinstitutionalcapabilityinthewayleadingfinancial-servicesprovidershave.Untilrecently,mosttelcoswerebusierexpandingtheircustomerbasethanincreasingtheirexistingcustomers’value.Nowthattimeshavechanged,manycarriersareintuitivelystrivingtoincreaseit,buttheytendtotacklediscreteopportunitiesoneatatime,withoutfullyappreciatingthecomplexityofCLMorthecarefulexecutionrequired.Some,forexample,havetriedtoreducechurnbyofferingdiscountplansandotherincentives—butendedupretainingcus-tomerstheywouldhavebeenbetterofflosingandmakingformerlymarginalcustomersunprofitable.Othershavetriedtocontainthesurgeinunpaidbillsbytighteningcreditlimitsonnewapplicantsbutarenowturningawaymanycus-tomerswhowouldhavebeenprofitable.Companiesthatimple-mentCLMhavetoeschewthispiecemealapproachandfollowasetofbasicprinciples.First,theymusttailorthewaytheyviewand84THEMcKINSEYQUARTERLY2003NUMBER4EXHIBIT1OpportunityofalifetimeExpectedincreaseinearningsbeforeinterest,taxes,depreciation,andamortization(EBITDA)1fortypicalUSwirelesscarrier,percent1Assumesrateofchurndown0.3percentagepointsfrom2008analystforecasts;growthrateofaveragerevenueperuserup0.5percentagepoints,costtoservedown0.6percentagepoints;costpergrossadditiondown1.2percentagepoints,baddebtaspercentageofrevenuedown0.2percent-agepoints.2Includescustomer-carecostaswellascostofoperations.3Costpergrossaddition.Source:DeutscheBank;MorganStanley;McKinseyanalysisReducechurnIncreaseaveragerevenueperuserReducecosttoservecustomer2Reducecosttoaddnewcustomer3ReducecostofbaddebtTotalincreaseImplementingcustomerlifetimemanagementcanleadtoincreaseequivalentto:•$1.5billiongrowthinEBITDA•4.5%growthinEBITDAmargin•8.9%growthinrevenues9.96.93.13.00.523.41CLMdiffersinseveralimportantrespectsfromthemorefamiliarcustomerrelationshipmanagement(CRM)asitiscommonlydeployed.CRMistypicallyanenterprise-software-focusedsolutionthathelpscompaniesbothtoundertakeanalyticsofcustomerbehavioralongoneormoredimensions,suchasestimatingacustomer’spropensitytochurn,andtomanagecustomersalesandserviceinteractions.Q4_Wireless_v59/9/034:18PMPage84treatthecustomer.Second,theymustfollowarigorouslyquantitativeapproachtodetermineeachcustomer’svalueandtotestinitiativesthatmightincreaseit.Third,theymustembraceCLMasacoreinstitutionalcapabilityrequiringanewmind-setandnewincentives,processes,andtools.Inreturn,companieswillfindthatasinglewell-plannedCLMprogramcanreplacethemyriadunrelatedprojectscurrentlyoverwhelmingmanagement’sagenda.AdoptingCLMisundoubtedlyachallenge,requiringnothinglessthanatransformationinthewaycarriersthinkaboutandapproachconsumers.Thecarriersmustbalancetheireffortstoacquirenewcustomerswitheffortstomaximizethevalueofexistingones.Theymustreplace“gut-feel”deci-sionmakingwithdecisionsbasedonquantitativefacts.Andthroughouttheorganization,theymustdeveloptheskillsandmentalityrequiredtotreatcustomersbyvalue.ButthepotentialpayofffromCLMshouldputitatthetopofanysenior-managementgroup’sagenda.Thistechnique’sadvancedpractitioners,suchasCapitalOneFinancialandUSAA,havebuiltavitalcompetitiveedge,andthefirsttelecomcarrierstomovebeyondtoday’searlyCLMeffortsshouldenjoythesameadvantage.Ouranalysisofbest-in-classpractitionersofCLMsuggeststhatatypicalwireless-serviceproviderimplementingiteffec-tivelywouldgeneratea4to5perc