Telcos, personalization and the missing millions research report
2 min. Read
Are telcos and consumers on the same page?
Marketing campaigns are won and lost on the accessibility and quality of companies’ data about their customers – and how smartly they use it. Across every industry, this makes customers’ data a hugely valuable asset and means of gaining competitive advantage. No sector holds more data about their customers than telcos.
In the spring of 2022, we conducted two surveys. One targeted at consumers, which explored how they feel about their data being used to make marketing, offers and services more relevant and personal to them, and if operators are meeting their expectations.
The second survey probed operators about their attitudes towards using customers’ data for these purposes, how they are using it, and why they make those choices. The results highlighted that they are far from making the most of their data assets. For example, we found that less than a third of operator respondents are using weblogs from within their network data to improve customer experience and marketing to them, although this fabulously rich source of insights is unique to them.
We dug down further to extract some fascinating, more granular understanding of operators’ attitudes and concerns, which often differed radically from those of our consumer respondents. In short, we discovered that operators are leaving millions on the table and failing to meet their customers’ expectations.
Customers want true personalization when they interact with brands. That’s a fact backed up by a lot of research and real-world experience. But there’s a fine line between giving people what they need and overreaching to the point where your efforts become invasive or creepy.
There’s more than one way to grow your business. But while efforts to tempt new customers away from competitors with enticing offers may take up the bulk of a telco’s marketing budget, focusing on the customers you already have can also prove highly beneficial. You’re already at an advantage with these people as you have […]
Here’s the theory: if we take all the data we possess about customers, we could deduce a great deal and draw powerful insights. We could use this information to enhance customer experience better look after our customers and sell better products and services, tailored to their needs.