Telecoms.com periodically invites expert third parties to share their views on the industry’s most pressing issues. In this piece David Peters, CEO of Emagine International, looks at how CSPs can do more to enhance customer experience, reduce churn and drive revenues.
In response to the growing number of challenges faced by Communications Services Providers (CSPs) in the digital world, customer service has broadened beyond network performance to encompass additional customer touchpoints, from sales through to provisioning and billing. Combined with the advent of smart devices and the growing volume of data available from sensors and connected devices, CSPs need to evolve their businesses to enable them to utilise this data and enhance the customer experience as it’s taking place.
The Telecoms.com ‘CSP and Customer Care report’ highlights a clear need for more to be done to improve customer experience. With 1.35 billion smartphones expected to sell globally by the end of 2015, alongside increased competition from other operators and OTT players, the challenge of winning new customers and satisfying existing users is more important than ever for CSPs. Under both margin and growth pressure, CSPs have finally recognised the need to achieve better interaction with their customers to keep them happy, build on the relationship and offer innovative products and services to increase ARPU. In addition, consumers today are increasingly demanding a digitally relevant experience that combines multiple touch points across email, call centre, in-store, in-app and mobile, with the ability to act in real-time, responding to events and customer behaviour as they happen, making it vital that CSPs embrace real-time Customer Value Management (CVM). This refers to the practice of understanding and maximising the value of each individual customer and how customer “stickiness” can be increased through ensuring all customer interactions relevant and therefore valuable.
For the full article: http://telecoms.com/opinion/putting-the-customer-data-first-customer-value-management/