Monday, November 24, 2003. A day that all wireless telecommunication companies will remember for a long time.
Aside from the technical complications with implementing wireless local number portability, telecommunications service providers faced an even bigger challenge defending against massive discounting and promotion to stem the flood of customers to their competitors.
In an industry that has been flipped upside-down by regulatory changes and is in a constant state of flux caused by the convergence of technology and consolidation of competitors, telecommunication firms must seek new ways to differentiate their product offering and ensure that their customers demands are met. Customer acquisition is no longer the sole measurement of success; telecommunications firms must strive to attract and retain customers that improve the bottom line.
Because telecommunication services are now perceived as commodities, the industry has been forced to become even more creative when explaining the value of their solutions. Questions they need to ask themselves include:
- Which product mixes (bundles) leads to loyal customers?
- What is the next product or service to offer a particular customer?
- Who are my most valuable customers? How do I keep them loyal and how do I find more customers like them?
- How do I decrease the churn rate of my existing customer base?
- How can I detect who is likely to churn early in the customer lifecycle?
To find out more about AmberLeafâ€™s solutions for Telecommunications, including Churn Protection, building a Single View of the Subscriber, and Marketing Effectiveness download the Telecommunications Solution [PDF] document.