The waves of digital disruption have enriched customers and the world of marketing has changed drastically in the last two decades. Previously, customer relations were constructed on a brand’s terms and the communication media which were limited to emails, calls, voicemails, etc. The business model has all changed because of the growing demand of customers for engaging, rich, and endless experience. Therefore, the brands are creating their strategies with customer-centric approach.
Moreover, digitalization and data analytics are enabling marketing professionals and organizations to make maximum benefits from these developments. Similarly, the evolution of social media, technologies, and several other digital innovations has changed the customer behaviour. Nowadays, customers expect personalized interactions as per their convenience. The role of customer in overall success of a product is dramatically changed making organizations more focused about Customer Experience Management (CEM).
The changing business strategies
Earlier, concentration of companies was on service quality, product quality, but digitalization has changed the whole picture. CEM in simple words enables organization to know about its customers but contrariwise, it allows an organization to comprehend what customer knows about the organization. Moreover, it helps the organization in forming business strategies, future planning, and leverage opportunities. The changing set of practice, technologies, and business values that empower the organization are greatly dependent on CEM which helps companies to offer and enhance superior customer experience. Today, CEM in businesses requires a profound commitment to understanding and serving customer needs and expectations.
Digitalization in Telecom
Telecom industry with involvement of advanced technologies has grown tremendously. Earlier, the line operator always had their voice network to run but now they are managing broadband, TV, mobile and data services with associated hardware like set top boxes and smartphones. With emergence of new channels and devices, customers are demanding easy access to broader range support options, high levels of customer service, and reasonable prices. The telecom industry can offer better customer experience by being excited to engage the customer and understand what they like and don’t like. Additionally, it is important to understand the little things about the role of CEM in telecom that can make the difference.
Tremendous competition making CEM a key growth driver
Currently, the organizations in telecom industry are facing more competition and the importance of telecom has grown immensely, elevating the significance of the customer service delivered by operator. The digitalization has resulted in increase in customer churn and as a result, telecom operators are financing more on retaining and maintaining customers. When customers are considered, consumer satisfaction and loyalty is affected not only by pricing but also by the quality of customer service and overall experience from customers’ initiative up to the after sales. It has become more important for telecom companies to provide its customer with consistent experience through various touch points and communication channels, in order to distinguish themselves. Further, it is vital to put right people, right process, and right technologies at right place, to provide grounds for delivering consistent experience to the customers.
Factors augmenting customer satisfaction
The companies must focus on certain domains such as customer fulfilment to ensure accurate delivery of service. The telecom operator must give priorities to customer needs by combining and analysing customer data, service request, service parameters, network capacity, inventory, billing, support obtainability, exceptional management, and then mapping them to monitoring restraints.
The operator must provide service assurance according to the customer expectations in order to keep the consumption high and cost support low. With increasing expectations customers want text, voice, data, hosted services, applications, payment mechanism, etc. The number of channels for customer interactions are also growing and making it difficult for operators to get unified view of the customer across channels and develop a decisive understanding of the customer. In addition, billing and revenue also have a tremendous impact on customer satisfaction.
Better CEM for better customer satisfaction
The telecom companies earlier had product-centric approach but today, the customer satisfaction is significant to divide target customers and the customer base along with lifecycle of customer that identifies their needs and desires. The company should build a single plan of digital experience so that the customer can interact easily. Moreover, there are several customer management platforms that help companies to focus on customer experience.
1) Customer Experience Management Platforms
CEM platforms use data and analytics to identify the customer needs, even before customer begins to provide information. In the process, data is collected from customers to create a cohesive view of the activities and use it to dedicatedly reach out to customers. The process moreover reduces support struggles, time, and cost and eventually enhances customer experience. The CEM system technology helps in managing company’s interactions with the customers and works with all customer-facing touch points comprising of organizing, automating and synchronizing so that the company can serve the customers and reply speedily to issues. It stores all customers’ updated information in one place, making it easy to share with different teams within an organization.
2) Order Provisioning Platforms
These platforms provide end-to-end order management and service provisioning. They offer real-time dashboards that give complete visibility into every internal and external process which influence customer management. Furthermore, to keep customer management on track, business rules are rooted in the platform to trigger reminders and alarms. The design of the platform offers the facility to look at the revenue opportunities during the fulfilment cycle which eventually assists the operator to build capacities, inventories, and abilities to meet estimated demand.
3) Telecom Analytics
The telecom analytics brings together the data from across the enterprise related procurement, operations, post sales, financials, and customers to provide business insights. Telecom analytics provide insights on mapping operations, finance, network, and customer data to take business decisions to hold the right customers. In addition, it assists in focusing on strategies, actions, products, and services that help in increasing profits and increase customer retention through customer experience enrichment.
Actions to Attract New Customers
Some activities that telecom companies should use to attract new customers and retain existing ones consist of:
1) Move towards a customer-based focus:
Telecom companies are trying to merge various platforms to get the complete view of the customers’ needs and deliver better customer service.
2) Invest in first-contact resolution (FCR):
Customers want their problems get resolved immediately. Therefore, telecom companies are working towards offering first-contact resolutions. It’s a type of measurement that helps service providers to track the effectiveness of their services and processes. More importantly, it’s a great way to keep focused on the customer experience since customers like fast resolutions to their problems. Fast resolutions don’t mean closing the complaint—customer satisfaction after resolution matters a lot. Therefore, a proper infrastructure will be needed to find how FCR can be achieved effectively.
3) Focus on an omnichannel experience:
Costumer converses with brands over numerous channels and companies are connecting these different touchpoints to provide constant experience. Moreover, the telecom companies are also adopting newer technologies like unified communication platform and the cloud to reach maximum customers.
4) Provide proactive warnings and information:
Telecom companies have started providing alerts and warnings when customer is about to finish the service. This is helping customers to renew their services.
Advancement in technologies and emergence of powerful tools focused on improving customer experience are making it easier for the telecom companies to rapidly grow their business. For organizations to be successful, it is important to keep customer experience as the main motto. The use of modern technologies will help in growth of both customer and the organizations. CEM is one of the best ways for organizations to shift focus on “customers”, considering consumer-oriented market where customers have more power than ever before. It will greatly help telecom companies to address customer issues which largely impact the customer retention.