In an environment flush with choices, consumers are empowered to change their cable and mobile operators if expectations are not met. As a result, today’s consumers have little patience with those who perform poorly in service delivery or the customer experience.
In today’s evolving communications and entertainment landscape, operators must attract increasingly digitally savvy consumers and keep them happy with the right complement of value-added offerings, together with attentive, responsive customer service. In the absence of contracts binding consumers to operators, churn rates increase. In turn, customer management costs increase, given the disproportionately high cost to acquire a new subscriber compared with retaining an existing one.
A consumer-focused effort requires operators to integrate customer interactions across all digital touchpoints and construct a 360-degree view that encompasses their customers’ usage, service interactions, preferences and social behavior.
Failure to respond via social channels can lead to a 15% increase in churn rate for existing customers. Integration of those channels is confounded by the different data structures of the telco systems and social media.