Getting a strong return on investment for your marketing activities shouldn’t be just about signing telecoms customers up for higher-tier plans or new services. In this sector, ensuring existing customers also feel engaged with their provider is also vital for long-term success.
Understanding who your customers really is already a must for any telco in today’s data-driven, highly competitive environment. However, how they do this will have to evolve in many cases to keep up with the growing pace and scale of the challenge.
Retaining loyal customers needs to be a top priority for any communication service provider (CSP). Churn rates in the industry remain high – at around 22 percent a year – and seeing as it costs up to four times more to acquire new customers than retain existing ones, anything you can do to boost the […]
The Covid-19 pandemic was a driving force for businesses to innovate and pivot strategies. Telco and other service providers have long been viewed as utility companies by today’s consumers – customers might not necessarily love their service providers, but they do love the things they make possible. At the start of the global quarantine, service providers around the world were under immense pressure to deliver their services effectively to consumers.
There aren’t many other industries staring down a future as uncertain as telcos. A stagnant growth and a global downturn on the horizon, Telcos are struggling to keep customers without having to resort to the obvious, giving more data and voice minutes for a cheaper price.
Earlier this month, we invited Forrester Analyst, Brandon Purcell, to share his thoughts on practical AI applications in Customer Experience. The thought-provoking session included an interactive element; with Brandon inviting the audience to debunk certain AI myths.
Having worked in Marketing for over 25 years, much of it in relationship marketing and loyalty, I am not sure that many days have gone by where the words brand and sticky, or some synonym for sticky haven’t been mentioned in the same sentence, PowerPoint slide or plan on a page.
At IQPC’s recent CX Telecoms Exchange in London, Intent HQ hosted a Think Tank session tackling some of the key challenges faced by Telcos today. The packed-out session was led by our Chief Client Officer, Sharifah Amirah and our VP Global Sales, Dave Wardell. Delegates were challenged to assess how mature their organisation is in terms of Customer Intelligence. We discussed their organisation’s ‘readiness’ to support a Customer-First approach, and ability to win back customer wallet share from the FANG players.
In today’s world, technology is moving at speed. Disruption is occurring so frequently across so many industries even the biggest businesses are concerned about survival. They are right to be worried. Just look at the Netflix example, they are a classic disruptor. They have come into a world of TV and movies and changed the game.
Growth, levelling and decline are clearly observed across some of the major offerings as well as highlighting emerging players. As Netflix continues its global growth, many other providers of TV/Movie services are enabling their own on-demand capabilities.
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.
The biggest problem that telecom operators face is keeping up with the demands of the connected customer. The bar isn’t being set by traditional competitors but by the renowned FANG (Facebook, Amazon, Netflix and Google) companies that have stolen wallet share and commoditised telcos’ offerings.