Telco Digital Customer Engagement Benchmark
Customers are more educated, more empowered and have more options available to them than ever before. They are also engaging with companies through more channels than previously, as social media and search engines overtake print and television as the most effective way of reaching out to customers. In a 2015 'point of view' report Deloitte stated that 45% of smartphones owners were making purchases using a mobile device every month, and in addition complaints and queries are increasingly being made online rather than in person or via the phone. This shift in the market highlights how important customers' digital engagement and satisfaction is, as more and more customers are assessing companies' services through their digital brand experiences.
Creating a seamless, intuitive and trusted digital experience should be at the forefront of all telecom business models, such as through innovations in omni-channel strategies. An omni-channel approach, i.e. integrating online and bricks and mortar customer experiences, can help improve the effectiveness of telecoms' marketing as a more sophisticated 'single-view' picture of their customers allows for better targeting of their wants and needs. This will help reduce churn and increase ARPU.
An omni-channel focus will also bring increased conversion rates and reduce cart abandonment through a larger availability of convenient online shopping options and secure payment solutions. This can help improve customer satisfaction, retention and loyalty. Not only will omni-channel solutions increase revenue in these ways and more, it will also save companies money, through, for example, reduced time spent on resolving customer service issues. There should be no need for customers to repeat simple information or be passed around to different areas of the company as a clear and unified picture should be available rather than customer data remaining stuck in specific siloes. The need to develop omni-channel solutions should be clear, and many telco companies are some way to providing this seamless picture to their customers.
STL Partners has created a Digital Engagement Benchmarking Tool which can assess your operator's performance in digital maturity, and highlight areas where omni-channel development would be beneficial. A free, bespoke report will be created which benchmarks your company against industry competition and 'best-in-class' performers outside telecoms, the metrics covering digital sales and marketing, digital customer experience and omni-channel strategy. The report will be sent to you by the end of August. If this is something you would be interested in, complete our 5-10 minute survey now. All information submitted will be treated as strictly confidential and your operator (or its data) will not be identified in any reports to send other participants in this study, or other third parties.