A key strategy: Offering new customers packages tailored to their individual’s credit risk
A large communications service provider (CSP) that serves more than 50 million individual, business and government subscribers was faced with the challenge of optimising its customer acquisition policies by offering new customers equipment and service packages tailored to each individual’s credit risk. This is a critical new battleground for telecoms operators as markets exceed saturation and the fight to attract new customers centres on making attractive, tailored propositions.
The days of build it and they will come are long gone in many industries and telecoms is no exception to this new reality. Providing customers with consistently excellent service in a highly saturated and competitive market requires continual and expensive improvements. Successfully operationalising the process starts with giving business experts the means to quickly develop, test, scale and improve analytically driven automated strategies.
The key driver for business profitability is effective cost management in acquiring and retaining customers. The acquisition cost for customers in the telecoms industry is very high, with customers familiar with and expecting device subsidy accompanied by attractive content deals. However, there is a danger that these become little more than sideshows in a race to the bottom on price. This season’s winning offer is next month’s table stakes.
Strategies that balance the complexities of this process to ensure customers are attracted to the telecoms provider but in a sustainable way are therefore a significant operator requirement. In addition, it’s vital that these processes can adapt as customer needs change over time, enabling the operator to combine a range of factors and capabilities that add up to true competitive advantage. Continue reading in Tech Trends magazine »
Continue reading in Tech Trends magazine »