What do you do when you find out that your mobile call rates have increased? This is a point of time when you can no longer afford to send huge number of text messages and your mobile data pack is burning a hole in your pocket.
I would simply shift to a cheaper service provider without a second thought and I’m guessing you would do the same as well!
Customers want value for money and high quality service and telecom service providers have eventually lost customers in the past, for not having competitive prices. It didn’t end here; the telecommunication players had deluge of customer information and they failed to structure them meaningfully. The reason was, the lack of computing power and large volume of data flow.
However, today’s data storage costs, both in-house and using cloud based solutions has dropped considerably. There is a wide set of products and enough computer processing power at Telecom industry’s disposal, to cash in on the valuable information flowing through their channels.
‘How’ is the big question here!
Here are some possibilities of using Big Data to boost telecom’s marketing capabilities.
Building Customer Profiles
Telecom industry can now use various databases to create strong customer profiles. The customer usage behavior data that most operators have includes SMS, data usage pattern, voice, video consumption, customer care history and basic customer demographics like age, address etc. Marketing campaigns and loyalty programs designed based on these information, can capture insights on customer product, channel preference and price sensitivity. Beyond this, they can also capture online data like, number of visits, visit duration and so on. This would help build a deeper understanding of how customers use their service. By monitoring these things, communication providers can get a clear picture of what is important to their customers and become more responsive in product offerings and marketing initiatives.
Involving Advanced Analytics
Telecom product portfolios are getting complex with growing number of broadband speed offerings and mobile phone plans. With this, the complexity of cross selling has increased as well. Therefore, advanced analytics and tools should be implemented to predict what a customer is inclined to buy next and deliver a better customer experience.
Cashing-in on the next big thing
Mobile data usage continues to grow at a tremendous rate and with Big Data, Telecom operators can study how users are utilizing their devices and services. Big Data can help them analyze and identify opportunities to provide new products and better value for their users. With Big Data, they can stay ahead of their competitors, build a brand and increase their customers. Scrubbed data can also be used for creative marketing initiatives like sending individual advertisements directly to the devices.
With all the hurdles gone, telecommunication operators can begin to profit from the useful information offered by Big Data.
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