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… Continue reading Your customer loyalty schemes don’t work – here’s what to do about it
Improving return on investment should be a top priority for communication service providers (CSPs) in their marketing campaigns. Yet in many cases, even though these companies have a wealth of information available about their customers, they aren’t using this effectively to deliver better, more personalized messaging. As a result, many campaigns are too generic or… Continue reading How data-led campaigns offer more for your money
Best practice is to use all three, of course. Facts, generalizations, and inferences are defined as personal data whenever they are attributed or attributable to a customer. They are regulated under laws such as GDPR in Europe and CPRA in California, so are rightly part of a conversation about customer data protection and privacy. Using… Continue reading 3 Kinds of Customer Data: Facts, Generalizations and Inferences
The marketplace for telcos is tougher than ever. So if you’re to thrive in an environment where customer demands are high and new, innovative offerings are always looking to persuade consumers to switch providers, you need to stand out from the crowd. To do this, an effective personalization strategy is a must-have. This plays a… Continue reading Humanising true personalization – What do telcos need to understand
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… Continue reading Removing the blockers to ensure data monetization works effectively
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… Continue reading Making monetization work in a new era for data consent
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… Continue reading Insights to activation – turning raw data into truly personalized value
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… Continue reading Why asking the right questions matters in churn analysis
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… Continue reading Getting upsell campaigns right – why personalization matters
Utter the words ‘data breach’, and the news spreads just as fast as any 5G network. Over the past 10 years, there have been 300 data breaches involving the theft of 100,000 or more records according to Forbes. And per the World Economic Forum, as of 2019, cyber-attacks are considered among the top five risks to global stability. Sadly, this news isn’t new. But considering that most of the individuals affected by the T-Mobile breach weren’t even existing customers, the headline doesn’t evoke much confidence.
What fun and what an honor to host a fireside chat with Professor Jose Luis Nueno of IESE Business School and Merkle CTO Matthew Mobley! In brief, he discussed the intense pressures already hurting traditional retailers in the EU and US before the Covid-19 pandemic, which had resulted in falling revenue. Now weakened further by the pandemic, they face tough challenges adapting to the new normal.
The Gist It has been a challenging year. Frightening, sad, exhausting, and yet interesting and often so inspiring. It has been a challenging year. Frightening, sad, exhausting (especially for mothers of young children, like me), and yet interesting and often so inspiring. As we prepare for our latest public conversation, a review on June 3… Continue reading Making Sense of Post-Covid Normal