Data is essential for any business today. But having access to data and using it effectively are two very different things. For instance, are you sure the picture it’s painting for you is really accurate?
Telcos are at an inflection point. For years, they’ve faced mounting pressure from better-funded, more innovative tech competitors, and seen a return on investment, profits and market share slowly dwindle.
Telco Customer Experience and Marketing teams are failing to make emotional connections with their customers. They are frustrated because they are unable to use all of their data to develop rich customer insights. To add to their frustration they see other companies using data in a more personalised and engaging way than they are – we call this the Great Competitive Paradox.
This is the dream: you put vast troves of data to work, accurately predicting each customer’s wants and desires, creating individually tailored marketing, sales, and service. You solve problems before they become problems. You operate like a nimble and personalised small business, but at massive scale. Your customers love you. Your competitors wither away.
These days, the main discernible difference between two telco brands is often the way they treat their customers. We talk about enhancing the ‘customer experience’ and improving the ‘customer journey’ – but creating a real stand-out amongst competitors depends on developing a much deeper, more human-like understanding of customers than ever before. Telcos know that […]