Benefits & Results

Improved subscriber retention, Improved ARPU, Enhanced customer engagement, improved retention rates and greater operational efficiency.

Enhanced customer engagement, improved retention rates and greater operational efficiency.

Background

The Economist is a globally recognized media company known for its high-quality editorial content but faced significant data challenges. Despite their strong market presence, they struggled with data siloes, lack of integrated customer views, and inconsistent KPI definitions across business groups. These issues led to low customer engagement, high churn rates, and inefficiencies in marketing and customer service operations.

Challenges

Lack of common data and KPI definitions across different business groups, limited trust in subscriber numbers and related revenue due to fragmented data, inability to tailor offers and content due to a lack of a 360-degree customer view, data siloes causing separate reporting of transactional and behavioral data, low engagement and high churn due to non-personalized content experiences, outsourced customer service operations resulting in low customer satisfaction and high churn, high customer acquisition costs due to ineffective marketing attribution.

Solution

NowVertical provided a comprehensive solution to address The Economist's data modernization needs: Assessment & Analysis, Data Platform Design and Build, Scalable Architecture design, Dashboards, Customer Segmentation and Personalized Offers.

Implementation

Engagement and Literacy: Workshops with business stakeholders to define Data literacy ensuring agreement on common data and KPI definitions.
Platform Development: Designed and built a comprehensive data platform using Snowflake, Talend, Python, and AWS.
Architecture and Management: Offered architecture, technology, and project management services to ensure successful platform delivery.
Real-time Reporting: Implemented near real-time KPI reporting to replace the previous weekly reports.
Personalized Strategies: Utilized data insights to develop customer segmentation and personalized offers for retention and cancel-save initiatives.