Telcos generate a lot of data. Therefore, it shouldn’t be news to any firm that the first-party data they collect on their customers offers huge potential to generate additional revenue for both themselves and their partners. A strong data monetization strategy can provide a valuable source of income, enabling you to offer your chosen partners […]
A strong data monetization strategy is a vital revenue channel for any telco. With the right tools, you can take the trillions of first-party data points you collect on your customers and deliver critical insight that partners can use to provide more personalized messaging that offers a better return on investment. However, a key challenge […]
Data is any business’ most valuable resource. But while this is more true than ever in today’s environment, it’s not the whole story. After all, it doesn’t matter how many billions or even trillions of data points a firm possesses – if they can’t utilize it effectively, it’s doing nothing more than taking up server […]
Keeping churn under control is always a top priority for telco firms. In the current environment, where it’s easy for customers to switch providers at a moment’s notice, firms need to offer more than the most competitive prices in order to keep customers at the end of their contracts. Indeed, the costs of churn continue […]
It was expected to die. Instead, it continues to grow.
Despite the rise of GDPR and other privacy regulations, marketing demand for third-party data has continued to drive billions of dollars of double-digit growth.
Smart service providers are already deepening their customer relationships by delivering services built around each person they serve. The key is robust, human-based data insights—that take the form of a deep and holistic understanding of every individual.
By no means all of the regulatory action under GDPR has been accomplished through fines on organizations. It is expected that the EU legal consensus regarding privacy will strongly influence their behavior. Since GDPR’s introduction, most regulators have taken a consultative stance, giving advice and looking for incremental improvements in behavior.
The current situation with millions of people confined to home and eschewing physical meetings has highlighted the way that social media has captured our imagination.
The battle for an emotional connection is the newest frontier in the battle for customer experience.Humans are emotional decision makers. It is not a great challenge to most people’s intuition to say so. When asked, most would accept that when making purchases, emotion plays a part in forming our beliefs and opinions, alongside rational thought and logic.
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.
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.
Data lakes have been around for eight years, and while the original concept was promising, many of the lakes have unfortunately turned into data swamps. This has prompted criticism of the concept itself.