Little has changed in how telecom operators segment their B2B markets over the last 20 to 30 years. But B2B is changing. Businesses are moving to embrace digitization. They want to improve the digital experiences that they are offering their own customers. And they have a growing belief in the transformative power of new technologies such as cloud computing and the IoT. Business people, and in particular those who make technology purchasing decisions, want access to services that are as simple, intuitive and affordable as the ones they use as consumers.
Digital transformation has been a buzzword in the telecommunication industry for at least 15 years. The transition from the Communication Service Provider to the Digital Service Provider has been on the agenda of every telco for at least a decade with various projects that have spun off where Chief Digital Officers and similar sort of titles and functions have been created. We have seen some really good efforts from operators that we've worked with, and there are other well-known digital transformation case studies around the world.
Customer experience is the new king, the biggest differentiator for companies, and personalization is probably the most important element of that. Let’s see, why.
Finding new customers, establishing, and maintaining a strong relationship with them is always a challenge for a company. It is commonplace to say, but still true, that attracting a new customer is much more expensive, than retaining a current one. It could cost more than 5 times as much!
Improving the customer experience is the most important tool that brands can use to make a competitive distinction and increase customer loyalty.
Research shows that 73% of consumers believe that a differentiated experience is essential for customer loyalty.
Campaigns are essential tools to boost sales, improve the customer experience and increase revenues. Most of the times, enhancing customer experience while increasing revenue is a challenging task for marketing departments.
You should evaluate many variables to create an effective campaign that balances experience improvement and revenue growth.
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The evolution of 5G network technology provides a new revenue opportunity for the global economy, regardless of the industry. 5G will not only affect the telecom industry; it is expected to radically transform business and industrial processes in a range of sectors by enabling the adoption of new technologies and services.