Most service providers, aside from the largest global businesses, don’t have the capex, resource or expertise to take advantage of the data available to them. The data exists but isn’t being put to work to drive profitability and develop better customer experience. This is where I think a wholesale partner can help.
End users are more diverse and dynamic than they’ve ever been. They range from traditional mobile customers making mostly voice calls to teenagers who are heavy content consumers in the home or shoppers comparing prices online while shopping in foreign countries.
The challenge for providers is to understand what the end users like and most of all, don’t like, in order to create a customised experience that is both beneficial to their businesses and helpful to their customers.
Customer experience based on insights is not a ‘value added option’ anymore. It is a matter of survival. The risk for the service providers is that they become out of touch while competitors become closer to their customers, like some new players that have been very good at providing customer experience. This leads to churn and revenue loss.
A wholesale partner can help service providers drive brand loyalty and monetize Big Data by following these 3-steps:
- Data analytics: Structured data like addresses and call data records (CDRs) can be matched with unstructured data around real-time location, and social media interactions and habits to feed into customer interactions and engagement.
A differentiated customer experience requires back office systems that can support data mining across communications services and need to go beyond transport solution only. The State of Marketing Leadership found out that "Most marketers haven’t fully integrated customer data across the organization—but of those who have, 97% said they were now successfully creating a cohesive customer journey."
- Leveraging the insights: Wholesale’s partner platform can integrate the available data and push the relevant information to the right end-consumer, delivering them a personalized service. It is key that the customer is informed but done in a way that improves their experience instead of making them feel that they are “on the meter”.
Well-developed insights can also be used for price discrimination, resource allocation optimization, pre-emptive marketing outreach, brand partnership, network planning and product-market fit.
- Engaging in a 2 way dialogues to allow innovation: When the service provider understands the preferences, not just the spending patterns of the customers, they can quickly react and adapt to their change of behaviour. For example, it has helped Amazon develop revolutionary online delivery systems, allowing them to enter new markets.
Free or sponsored data access to social networks has also been successful in some emerging markets and has created a differentiator for the service provider.
MNOs, ISPs, content providers, OTTs and enterprises can use communications analytics platforms to better serve their customers. Any organization that has communications at its core can transform how they interact with customers with the help of a wholesale partner. It is about accelerating access to new tools, monetizing existing data, and increasing customer satisfaction with the help of new platforms and experts.
About the Author
Senior VP, Product & Business Strategy at Tata CommunicationsMore Content by Christian Michaud