How Real Time Campaign Management Solutions Can Help Telcos Improve The Customer Acquisition, Retention and Average revenue per user (ARPU)
To obtain the intended results in today’s market, organizations must incentivize, motivate, and include a KPI aspect in addition to the old, linear technique of creating a product and pushing it to sales. The market pull is often insufficient to create goal sales or revenue, mandating market push through a systematic campaign management system. In order to achieve higher revenues and increased customer retention, a more complex and agile campaign management approach is essential. This proves to be a challenge given the fast-moving and developing telecom market landscape. A good campaign management system (CMS) can build, manage, and track promotion campaigns in order to motivate resellers and agents to boost sales, enhance customer retention, reduce losses, and raise ARPU.
1. Caters to the Entire Promotional Needs
The ability of the Campaign Management System (CMS) to design, build, and administer custom campaigns for diverse promotional goals is one of its most important features. CMS platforms must be able to deliver an end-to-end solution that can combine many modules and elements to meet the changing needs of telecom customers. Multi-purpose, region-based, and product-based campaigns are some of the most noticeable aspects of this CMS solution. Back-office telecom sales and marketing teams may use this platform to manually segregate and construct a customized list of resellers based on transactions or channels, as well as have full access to interactive reports and analytics.
2. Growth In Sales And Revenue
The improved visibility and transparency of many components of the campaign, such as sales growth, is one of the most useful features of the CMS platform. This important data can assist operators in developing data-driven and targeted campaigns, allowing them to draw actionable insights and deliver results that are in the operator’s best financial interest. The key reasons why more and more businesses are turning to campaign management software are customization and customisation. Personalization boosts client happiness and, as a result, conversion rates. Marketers may link certain actions to individuals and adjust emails, landing pages, and offers accordingly.
3. Single-out What Doesn’t Work
Launch, schedule, swiftly organize, and monitor marketing campaigns across several media with campaign management software. Marketing campaigns can now be implemented in as little as a few hours. As a result, the lead time (the time it takes for a process to start and finish) for campaign rollouts is greatly reduced. An effective marketing solution allows you to track the effectiveness of your campaign as well as identify areas where it isn’t functioning. Marketers can use A/B testing to compare the chances of two different campaigns succeeding. With this, they can determine what is working and what is not by tracking the success of a marketing effort.
4. 360° View Of Customers
Users may get a complete picture of their customers with this service. It’s easier than ever to store information on your clients, such as their industry, company size, region, notable life events, career history, and so on. It’s simple and effective to learn about your customers’ preferences and create personalized messages. Users can quickly roll out personal recommendations or target segments using data from the system, such as order and request history, answers, interests, and needs. Furthermore, users have the option of using filters to create dynamic target groups.
5. Lead Management
Users can utilize the system to find lead generation channels and sources. All of this data is gathered in lead profiles and can be viewed on dashboard analytics. Users may easily track lead sources and assess the efficacy of lead generating channels in their marketing efforts. This makes it simpler to concentrate efforts on the best-performing channels and improve on them.
6. Implement Loyalty Programs
It was found that 12 percent of customers switched providers because they didn’t think their loyalty would be recognized or rewarded. Customer churn isn’t something that happens out of nowhere. Often, customers’ desire to quit has grown over time as they become increasingly dissatisfied with their experience. Listening to what consumers are upset about and then acting on it can assist in resolving these issues and encouraging customers to stay. Customer churn can be avoided via loyalty programs. Even a range of simple experiential benefits, such as free concert tickets or priority entertainment access can motivate customers to continue using a company’s services.
7. Proactive Strategies
Although 61% of the telecoms in a survey attempted to persuade their consumers to stay after canceling their contracts, using an apology or a discount offer, it was mainly unsuccessful. Those who churned after a bad service experience, on the other hand, would have changed their minds if they had been provided a better service plan, and 33% would have stayed if they were assured that the service would improve in the future. The information needed to recognize the warning signals of churn is available and ready to be used on the CMS dashboard. Simple steps such as identifying contract renewal dates and contacting customers around those days to upsell customized packages can be highly effective.
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Subex is a leading telecom analytics solution provider and leveraging its solution in areas such as Revenue Assurance, Fraud Management, Partner Management, and IoT Security.