As the COVID-19 pandemic continues to change so much about the way we live, one surprising bi-product of our current circumstance is the inspiring creativity that has emerged under pressure. Professionals are finding new ways to get their jobs done remotely, students are attending school from home, friends and families are staying entertained and in touch with each other…all thanks to technology. And the service vendors that bring these enabling capabilities into homes all over America are getting a bit creative as well, using this time to introduce and test out new and repackaged cable, TV and Internet offerings in an effort to help their customers make the best of this new reality.
Not surprisingly, customer demand for cable, TV and especially Internet services has increased against the COVID-19 backdrop, creating new pressure for providers to compete for business via new, repackaged and bundled offerings. And one of the ways they can do that more effectively is by leveraging property and neighborhood data to produce extremely well-targeted offerings at the local level.
It should probably be noted that this push toward a more data-driven business model was already well in progress before COVID-19 and that the emergence of the pandemic simply expedited what was destined to become the new norm. And it makes a lot of sense when you think about it – for a host of industries beyond cable, TV and internet. It’s no big secret that having the right data to understand who your customer is, make sure they’re getting what they need today, and do some predictive modeling to anticipate what they’ll need tomorrow can create a substantial competitive advantage if it’s done right.
Here are just a few examples of how ATTOM Data Solutions property data is being leveraged by companies in the cable, TV and Internet field:
Marketing
Obviously, ATTOM’s data plays a big part in executing successful direct mail campaigns by providing information such as homeowner identification, when they bought the house, address info and even geocodes for more precise locations. But there is also a great deal of insight to be gleaned from thoroughly understanding specific property characteristics such as the age of the home, square footage, the number of bedrooms and any existing electrical features that were installed during construction. Similarly, having neighborhood data can help service providers predict what a given household’s makeup looks like in terms of average income and predicted service usage. This is valuable information for setting up localized A/B tests for pricing, bundling specials, and even programming – now and into the near future.
Customer Segmentation
We’ve seen clients using ATTOM’s assessor data to help them better understand their customer base. Information such as the size and age of a home, number of bedrooms, and any pertinent structural information can be helpful for determining suitability for services such as alarm systems, WiFi boosters, or additional cable boxes to name a few.
Mitigate Risk
While the economic impact of this pandemic has caused some people to consider either downsizing or relocating, our property data helps service providers not only identify customers who qualify for services but helps to predict how likely a customer is to leave a service, as well as understand certain triggers that could lead to converting a new customer.
Being able to anticipate emerging customer needs is more important than ever before, especially since many of these seemingly temporary usage trends are likely to stick around long after the country officially “reopens” for business. After all, in cases where working from home and attending school remotely has worked out better than expected, that activity could continue to be the norm in many communities. And the extra time everyone’s been spending at home has undoubtedly created an appetite for the various entertainment programming available via streaming services.
It’s been inspiring to see firsthand how our clients have discovered bold new ways to maximize the power of our data to build better customer relationships. Let’s keep that creativity flowing and work together to ensure that we all come out of this pandemic stronger than ever.
