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News : Marchex Releases Cable and Satellite Industry Benchmarks
Seattle, WA, USA, Aug. 31, 2016 -- With cable and satellite companies facing record losses in pay TV subscribers, providers must hone in on changes in consumer behavior to counteract cord-cutting.
According to a new report titled "Cable and Satellite Industry Benchmarks for Digital Marketers," released by the Marchex Institute, the data and insights center for mobile advertising analytics company, Marchex (NASDAQ: MCHX), customization is make-or-break for consumers, in terms of cable and satellite product offerings as well as the sales process.
Marchex Call DNA technology analyzed data from more than one million inbound phone calls placed by consumers to cable and satellite operators in 2016, including five of the top ten operators.
Key findings from the report on consumer behavior include:
- While Internet is the leading product purchased from cable companies, traditional TV packages are still a major part of the product mix for new subscribers. Fifty-seven percent of new cable orders include traditional TV service.
- Despite the fact that millennials are often categorized as cord-cutters, millennials are actually actively considering cable packages, as the data shows that 40 percent of callers to cable companies are millennial households.
- Sports are a significant driver of cable television packages, as they may be the best option for consumers who want to watch live-action events.
- Consumers are increasingly interested in the ability to have "TV everywhere," and watch content from any mobile device or laptop. 1 out of every 15 consumers reference the concept.
Key findings from the report on how operators can improve customer service and overall experience include:
- Communications companies, including video, voice and internet products, are forecast to spend more than $5 billion in digital marketing in 2016, in turn driving millions of inbound sales calls.
- Even though internet services are more prevalent than ever, phone calls are still the primary sales channel for cable and satellite operators due to the high consideration of a purchase that can include a wide range of options and a multi-year contract.
"While the Internet has undeniably changed the way that we consume media, it’s clear that consumers still value traditional cable television services and communication channels," said John Busby, Senior Vice President of Marketing and Consumer Insights. "The key for cable and satellite operators is to understand their audiences are looking for increased personalization - both during the sales process and in the end result of a package. This data reveals a significant opportunity for both operators and marketers to attract customers and reduce churn by offering packages and strategies that mirror consumers’ desire for a truly individualized experience across all channels."
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Minimize Change
More Editorial From Marchex
Marchex is a mobile advertising analytics company that connects online behavior to real-world, offline actions. By linking critical touchpoints in the customer journey, Marchex’s products enable a 360-degree view of marketing effectiveness. Brands and agencies utilize Marchex’s products to transform business performance. Marchex Call Analytics, the leading analytics platform for click-to-call, measures more than 250 million calls annually for brands and agencies worldwide.
Published: Friday, September 2, 2016