The client: Telco company
Area of engagement: Customer analytics
In today’s fast-paced business-centric environment, it becomes a requisite to predict customers’ behavioral patterns to understand their needs and provide customized product or service offerings accordingly. In the last few years, the telco industry has seen tremendous advancements and is still developing at a rapid pace, even though it is affected by unanticipated industry trends. Leading telco firms across geographies have started leveraging the use of customer analytics to gain a competitive advantage by moving toward real-time decision making in a customer-centric business.
However, several other factors are influencing the growth of the telco companies. These factors include:
- Gearing up for the IoT: The incorporation of IoT into our day-to-day lives is edging ever closer. Platforms which support incredibly high levels of connectivity will be required to sustain these numbers. Leading telco companies are pressurized to focus on developing converged platforms, which adequately function to support the full weight of IoT. The integration of technology firms with telco services to form the IoT could also result in a hugely compressed telco infrastructure.
- Developing 5G: 5G possesses the capability to improve the speed of the spectrum along with its latency. It is expected to become available to the public by 2020 and will offer a smoother browsing experience for the end-users with minor delays. This will also simplify the development of IoT. There are many industrial sectors and firms which could benefit from the advent of 5G technology. The increase in competition due to the involvement of several leading tech firms like Apple has put telcos under pressure to develop 5G technology. This requires telco firms to invest considerable sums in building a network with 5G capabilities.
Many such factors are compelling telco companies to leverage the use of customer analytics. Customer analytics solutions assist telco firms to devise effective marketing strategies to predict and profile the potential customer segments. These solutions also help the companies target the audience to offer customized services to suit their requirements.
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The Business Challenge
The client, a prominent telco firm with business units spread across the globe, was facing predicaments analyzing their customer segments and developing personalized services. The client was looking at identifying suitable customer segments while cutting down on campaigning costs. They also wanted to conduct regular prognosis of their network adequacies to enhance customer satisfaction. The firm was also facing a significant challenge with the declining income, which forced them to cut down on operational costs and optimize the ARPU (Average Revenue per User).
The Solution and the Business Impact
Strategies we recommended based on our analysis to help clients become more customer-centric and offer tailored services
Quantzig’s customer analytic solution assisted the telco company to identify and engage with the right client at the right time. The solutions provided also included new strategies to maximize customer lifetime value through personalized cross-sell and up-sell offers. We also helped the client devise an effective go-to-market strategy, which enabled them to ensure Quality of Service (QoS) and offer a better Quality of Experience (QoE).
Customer Analytics Predictive Insights
Firms operating in the telco sector can make use of customer analytics to increase sales while cutting down on operational costs. Leveraging the use of customer analytics solutions also helps firms to gain actionable insights into their customer’s behavioral patterns. Moreover, it helps such companies to develop loyalty programs that target specific customer segments and obtain insights to make interactions with them easier.