There’s no question data impacts most industries. It’s a primary tool businesses use to learn more about their customers, their target audience. 1to1 Media recently wrote an article on the impact of big data on the telecom industry. A summary of that article is below:
From mobile phones and landlines, to television and Internet services, the telecom industry lends itself to the Big Data boom, for each of these channels generates vast amounts of customer information. Digital channels, in particular, have increased this volume exponentially, as consumers now have mobile Internet access within reach via smartphone 24/7. But, as the available pool of data continues to grow, telecom companies are faced with the challenge of deciphering this information and bringing insight to action.
Big Data initiatives usually fall into one of three categories: revenue growth, operations optimization, and network management. Because telecom carriers are the key enablers to the adoption of digitized media, with subscribers consuming more and more content via accompanying devices, providers have one of the highest “data per customer” of any industry. Thus, these initiatives now look beyond traditional means, as telecoms look to take advantage of the granular insights they’ve helped to generate.
Though traditional tactics are still relevant in terms of marketing, digital techniques now boost the effectiveness of said older channels by offering the ability to collect, analyze, and draw conclusions from measured data that was otherwise difficult or impossible to deduce previously.
There are typically 3 ways telecoms look to leverage subscriber data:
1. Gain Actionable Marketing Intelligence
Marketers receive the birds’ eye view of data and location usage across mobile networks, gaining actionable intelligence derived from experience and CRM data. Telecoms can then take to these digital channels to launch relevant offers in real time, fostering personalized, one-to-one relationships.
2. Improve Customer Care
Customer care representatives gain insight into how subscribers use their data, enabling them to better manage the customer experience, promote loyalty, and diminish call volume and duration, ultimately leading to reductions in operational costs. Agents can also empower subscribers to manage their own plans and usage by presenting such statistics upfront, thereby reducing care costs even further and improving customer satisfaction.
3. Monetize Data
Analytics tools enable operators to create new revenue streams by monetizing usage and location data, as such capabilities allow advertisers to measure the effectiveness of digital campaigns in the moment. Service providers have the opportunity to push said marketing messages multiple times in real time until the customer responds or intention changes.
Digital data allows telecoms to analyze customer behaviors at the root so they may understand how these individuals interact with their brands and how they employ their devices in order to better tailor product and service offerings accordingly. Said data also helps telecoms discover the source of any emerging issues so they may proactively resolve such problems before they impact customer experience. Overall, said information benefits both the company and the consumer, as this intelligence boosts the provider’s ability to deliver the sort of service subscribers seek in today’s increasingly competitive market.
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