Optimizing Marketing Spend in the Telecom Industry with the Help of Quantzig’s Marketing Mix Solution
What the Client Wanted Effectively allocate their marketing spend by optimizing marketing strategies. The Outcome The solutions offered by the experts at Quantzig enabled the client to quantify the impact of their marketing inputs on their overall market share. This engagement entailed the implementation of a robust marketing mix model to help the telecom industry […]
What the Client Wanted
Effectively allocate their marketing spend by optimizing marketing strategies.
The solutions offered by the experts at Quantzig enabled the client to quantify the impact of their marketing inputs on their overall market share. This engagement entailed the implementation of a robust marketing mix model to help the telecom industry client understand the impact of marketing inputs on sale.
Overview of the Telecom Industry
The dynamic and competitive nature of the telecom industry signifies that it is headed for a big shake-up. In the long run, telecom industry players are expected to witness new challenges and threats to telecom longevity. Moreover, the rapidly changing telecom industry landscape has given rise to new technologies and industry standards. Whether big or small, telecommunication is an essential factor in business operations. The telecom industry is further broken down into two subsegments, which includes wireless telecom services and diversified telecom services. Wireless telecom service providers are those firms that offer cell phone services; whereas, diversified telecom services include providers of both wired and wireless integrated telecom services.
However, players in the telecom industry are currently witnessing several challenges, it includes- the dynamic nature of the mobile industry, compliance and regulatory issues, and security of data being transferred over the network. It is essential for players to tackle such challenges whilst staying abreast of the telecom industry trends. Therefore, to stay afloat telecom industry, companies must adapt to such changes and invest in developing sustainable solutions that support technical innovations and consumer preferences.
Telecom Industry Challenges:
- A drastic decline in voice revenue: With rapid changes in the way people communicate, text and VoIP are now dominating the telecom industry. As a result, voice traffic has decreased drastically over the years, leading to a sharp drop in voice revenue. Therefore, to gain a competitive edge, telecom industry players must focus on providing value-added services to retain their clientele.
- The impact of IoT: The evolution of IoT based smart devices has resulted in a massive growth in the connected devices sector. This is, in turn, is generating trillions of new data sets which ultimately has to be handled by the network service providers and telecom industry players.
About the Client:
A telecom industry major, offering personalized telecom services to players across industrial segments.
To estimate the impact of their marketing efforts, the client – a telecom industry major – approached Quantzig. The client wanted to leverage Quantzig’s vast experience in telecom analytics to their benefit and devise an effective marketing mix model to better understand the impact of their marketing campaigns across their business units.
Benefits of our telecom analytics solution
To gain in-depth insights into our telecom analytics solutions
With the help of Quantzig’s vast expertise in telecom analytics, the telecom industry client wanted to gauge the effectiveness of their current marketing mix model and gain comprehensive insights into ways to enhance their strategies. The solutions offered by our telecom analytics experts also assisted the telecom industry client to enhance brand value and awareness by persuading customers to upgrade to their services. This also enabled them to devise audience archetypes and establish greater control over the existing customer base.
Marketing Mix Solution Insights
The marketing mix solutions offered enabled the client to enhance their ability to quantify marketing effectiveness with regards to – ROI, incremental sales, and other such contributions. A detailed review of their marketing mix model and techniques also enabled them to stay up-to-date with the changing market trends. Furthermore, with the help of marketing mix solutions, the client was able to cut down on their marketing dollars by optimizing their campaigns.