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.
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.
Customer expectations are now higher than ever as businesses strive to provide the perfect customer experience with a more personalised approach.
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.
Over the last 20 years, there’s no piece of technology that has revolutionised the way we live and work more than the mobile phone. It has transformed from a clunky curiosity to a powerful pocket computer that is all things to all people.
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.
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.
It seems unlikely that telcos are a rich breeding ground for the next set of breakthroughs in AI, but they are, they just don’t know it.
It’s 2017, and you would have thought that creating evidence-based systems of decision has never been easier. After all aren’t the FANG (Facebook, Amazon, Netflix & Google) doing this day in day out? Aren’t closed loop digital systems all hooked up with continual measurement, and isn’t every vendor under the sun promising you it’s easy? It can’t be that difficult!
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 […]