Retention-focused credit management

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1 analyse segment retain Retention-focused credit management Adrian Robson Executive Head: Customer Acquisition 1 Retention focused credit management

2 Intention To provide insight into how s credit management practices contribute positively to customer retention 2 Retention focused credit management

3 Discussion The Vodacom Group credit management Retentionfocused credit management 3 Retention focused credit management

4 THE VODACOM GROUP 4 Retention focused credit management

5 Where we operate 6.3m active Smartphones & tablets in South Africa 51.6m active subscribers in the Group 5 Retention focused credit management

6 Vodacom Group (Pty) Ltd Strategic priorities 6 Retention focused credit management

7 VODACOM SOUTH AFRICA CREDIT MANAGEMENT 7 Retention focused credit management

8 Vodacom SA credit management practices Vodacom SA is not a registered credit provider Not regulated by South African National Credit Act Vodacom SA does not provide credit We provide postpaid and prepaid services to our customers Vodacom SA utilises some credit-related information To determine what postpaid services are most suitable for each individual customer To determine the extent to which its postpaid customers may use its services To protect the customer against over-indebtedness Vodacom SA adopts some credit-related practices To offer postpaid services to qualifying customers To manage customer payment behaviour 8 Retention focused credit management

9 Vodacom SA Credit & Risk operational streams Acquisition stream Collection stream Compliance & Regulation stream Risk management stream Customer Origination Customer Management Business Unit & Business Partner compliance Strategic & Operational threats & risks Effective cash flow management Profit maximisation Our key drivers Improve efficiencies Increase market share Promote customer retention Enhance customer experience Minimise bad debt Reduce turn around times Minimise involuntary churn Minimise operational costs 9 Retention focused credit management

10 VODACOM SOUTH AFRICA: MEASURING CUSTOMER EXPERIENCE 10 Retention focused credit management

11 Our strategic focus Customer obsession Continuous business improvement 11 Retention focused credit management

12 Customer experience BUT HOW DO WE MEASURE CUSTOMER EXPERIENCE??? 12 Retention focused credit management

13 A measure of client satisfaction A customer loyalty metric What is Net Promoter Score? Measured by responses from a single question to clients e.g. How likely are you to recommend company / brand / product to a friend / colleague / relative? 13 Retention focused credit management

14 How does Vodacom SA measure up in NPS? Relative to its competitors; is rated: 1st in NPS in the postpaid segment Source: Vodacom Integrated Report for the year ended 31 March Retention focused credit management

15 How does Vodacom SA s credit management practices improve customer retention? Through the adoption of a Retention-Focused Credit Management approach; we are able to improve Vodacom SA s postpaid NPS score As more customers PROMOTE our products and service; we are able to retain a larger portion of our base 15 Retention focused credit management

16 By adopting contemporary credit management strategies & business practices; we are able to improve the CUSTOMER EXPERIENCE Improved customer experience leads to greater CUSTOMER SATISFACTION Increased satisfaction brings about more PROMOTERS of our products / services Increase in promoters results in higher NPS & higher RETENTION levels 16 Retention focused credit management

17 VODACOM SOUTH AFRICA: RETENTION-FOCUSED CREDIT MANAGEMENT 17 Retention focused credit management

18 Retentions opportunities in credit management Product offerings Price Quality Customer experience Reputation Switching barriers Uniqueness Network Sales Brand awareness Contractual obligations Usability Customer value vs low price Product Customer management Loyalty programs Reliability Service Customer interaction Market perception SetUp costs Credit teams can influence these directly; thereby influencing customer retention 18 Retention focused credit management

19 Current credit overview TRADITIONAL CREDIT MANAGEMENT PRACTICES ARE INEFFECTIVE large portion of credit-active sector already tied into contracts growing number of customers with impaired credit profiles macro-economic pressures (labour unrest, retrenchments, liquidated employers, etc.) Increasing number of customers going into collection for the first time convergence of products & services requires new credit management practices customers want simplicity increased collections with reduced resources 19 Retention focused credit management

20 The state of SA s credit environment Customers don t say no to credit More overindebted despite help Consumer credit health drops Most consumers 30% over budget Microlenders drive miners wage demands Food prices up 49% in 5 years Experts warn of debt timebomb Easy credit, hard life What does this mean for customer retention? 25 July Retention focused credit management

21 Vodacom SA s credit response to retention Evaluate Analyse our customer data Segment Know our customer behaviour Know our customer value Don t treat every customer the same (they are unique) Streamline Automate Empower Apply relevant strategies to each segments You cannot directly talk to every customer (need to integrate process & technology) Create environment for customer to self-help Give customer relevant choice Simplify Quality service Rehabilitate Staff must be highly skilled & professional Technology must be reliable and world-class Integrate technology & process Rehabilitate customers instead of churning Provide alternatives to churning e.g. more affordable products / services Integrate 21 Retention focused credit management

22 Why is segmentation important Not all customers should be treated with the same action Some always pay on time Some pay late occasionally Some always pay late Some want to pay but can t right now Some want to pay but can never afford to Some never intended to pay in the first place Each customer is unique but you have to find a logical grouping to automate processes Applying the incorrect treatment to a segment will negatively impact customer perception & customer experience; with a risk of increased involuntary churn 22 Retention focused credit management

23 How has credit management influenced customer retention Cost-efficiencies Intelligent analytics = Effective segmentation Effective segmentation = Greater automation Greater automation = Less manual intervention Less manual intervention = Fewer employees Fewer employees = Lower overheads Customer empowerment Intelligent call routing Self-help IVR interactions e.g. payment arrangements, account enquiry, etc. Improved payment mechanisms Fully automated online sales platform Future initiatives for mobile apps, web support, etc. Quality management Staff call handling skills Quality assessors & assessments Implementation of minimum quality standards Effective one-on-one coaching & call evaluation Link quality to performance goals & monetary benefits World-class credit scoring principles supported by worldclass technologies Invariable customer expectations Match customer need, customer affordability & product offering Perfect startup to an unmatched experience (customer education & device setup) Spend management to protect customer against overexposure Ongoing usage notification to avoid bill-shock 23 Retention focused credit management

24 Results of well-executed retention-focused credit management Enhanced customer experience Meaningful, focused interactions Professional engagement Focus on customer s needs Optimised operations Integrated systems & processes Purpose-based interactions & strategies Decision-focused analytics Improved quality Highly trained, quality-focused staff Stringent quality measures Reliable, world-class technology Reduced churn Minimised voluntary churn as a result of improved customer experience Minimised involuntary churn as a result of improved credit management strategies 24 Retention focused credit management

25 THANK YOU Adrian Robson 25 Retention focused credit management

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