Telcos, personalization and the missing millions webinar
How much benefit are you really getting from your customer data?
Marketing campaigns are won and lost on the accessibility and quality of the data companies have about their customers. On paper, telecom operators have a huge advantage in this area because no sector holds the same volume or variety of customer data. But are these firms really making the most of this?
In order to find out, in the spring of 2022 we conducted two surveys – one of telcos and one of their customers – to see what operators are really doing with their customer data, as well as what their customers think of their efforts.
To discuss the findings, our Chief Client Officer Sharifah Amirah sat down with the Editor of Mobile Europe Annie Turner and Partner at DPN Associates Simon Blanchard for a webinar as part of Talking Telecoms Week in July 2022.
Among the topics up for debate during the session were:
- The personalization gap between telcos and customers
- The challenges holding telcos back from making the most of their data
- How trust, transparency and choice are vital to success
- The implications of evolving consent and privacy expectations
- How to change telcos’ mindsets about the use of data for personalization
Download the full webinar to listen to the complete discussion and learn more about how telco marketers can tap into the power of personalization.
In order to make personalization work and move away from ineffective mass-marketing campaigns, operators first have to ensure they have a clear understanding of what this looks like in practice.
Sharifah explains that personalization is all about understanding who their customers are on a one-to-one level, and targeting them with offers that address them directly in a relevant and respectful way.
Closing the perception gap
It’s clear there’s a gap in perception between how well telcos think they’re doing personalization and what these customers think. In fact, customers are only half as likely as marketers to think that telcos are offering a good experience.
One reason why operators aren’t doing personalization as well as they could be is they’re not using all the resources they have available. For instance, only 30 percent of firms use weblogs in their marketing, despite the fact this is a hugely valuable and unique resource. Our panel discussed what can be done to address these issues and change their mindset to prioritize personalization.
The challenges and opportunities of consent
Another major theme discussed in the webinar was how telcos handle issues of consent and privacy. While many firms currently view these issues as a barrier to compliance, could they actually be an enabler?
If firms can make the most of these opportunities, the rewards can be immense, enabling operators to tap into millions of dollars of missing revenue, with customers 25 times more likely to reward firms that do this well.