Beyond the race to the bottom
With threats from OTT players, saturated markets and fierce competition, customer loyalty to operators and mobile brands is at huge risk. Facing dwindling ARPUs, operators need to focus their attention on retaining their core customers rather than enganging on price wars to take customers from competitors. Gaining new customers involves significant acquisition costs, while loyal customers provide greater revenue opportunities and act as brand advocates and channels to market to their communities.
Traditional loyalty schemes reward customers with points, based on how much money they spend; therefore, points can be redeemed for products, services or discounts. However, this “earn & burn” model does not create stickiness through engaging rewards and activities in the long term. Ideally, companies should focus on creating long-term trust and value, avoid a “me too” approach.
We believe there is a clear gap in the industry with regards to customer retentention schemes, as most platforms do not offer dedicated solutions for loyalty management that address the needs specific of communication service providers (CSPs), relegating this to an afterthought of customer management.
You can read more about our innovative approach to loyalty, developed specifically for the TMT industry, in our white paper.
How can we help
- Interactive dashboards/single customer view development
- User experience (UX design), including gamification
- Promotions and pricing development
- Customer segmentation and analysis
- Loyalty scheme development
- M-commerce and social media integration
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