How Telecommunication companies can grow their business with the help of conversational commerce

In the brave new world of changing market models (offline to online) and increasing number of choices, Telco customers are more empowered than ever before. It is no longer the customer who has to find a provider, but rather the provider that has to engage and retain the customer. The market has become more competitive as the internet has given the telco brands a vast opportunity to expand their business. Telcos, therefore, need to find new ways to execute great push marketing strategies in both in-store and online.

Customers are becoming more demanding when it comes to service and information

The telco industry has become commoditized and the challenge for telco brands is to find that one competitive advantage that differentiates them from the rest. This is where implementing an effective customer experience tool becomes crucial. With the rise of complex offers, customers often need extra assistance when making purchase decisions online – and ‘self-service’ type of information is not effective enough.

The point is, if Telecommunication companies can’t find efficient ways to engage customers at key touch points, they will lose business to their competitors, who can provide them with better experiences and address their needs in real-time.

The telecommunication industry is ranked at the bottom of customer satisfaction and is below the cross-sector average

In general, it is much more common having customers talk about a bad experience than talk about a good one. To add on, in telco industry customers often don’t call customer support because they will be held in line for too long (48%) and are in general not satisfied with the service provided. Furthermore, when deciding on which provider to go for, customers usually rely on word-of-mouth information, whether it is through a friend or online reviews. Only the most innovative telco companies, such as Vodafone Spain, have the tools to provide an exceptional customer experience.

Vodafone Spain created an online showroom, to serve their online customers directly from their website:

 

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Customers start their buying journey by researching and comparing options via digital channels

How is it that physical stores still convert better than online stores? For a start, the lack of effectively monetizing on your website traffic reduces the chances for a customer to convert online. Moreover, telcos are not engaging with customers enough during the micro-moments in the customer journey, which too often results in frustration and website abandonment.

From a generalist perspective, telcos are not competing on product or price but on content. If we want to transcend this to our topic, telcos need to differentiate themselves from competitors through customer experience. Optimizing website structure, checkout process, shopping carts and so on. These are all necessary steps, but the story doesn’t end there.

Customer experience is everything from the first moment when the customer discovers the company until the last moment they think of it.

Digital innovations contribute to a great customer experience

Digital innovations help telcos retain existing customers, improve the ability to reach new customers and enhance the customer experience. With the use of new emerging digital solutions, telcos can listen to their customers and provide them with real-time assistance,  catered to their needs.

They help put the customers in the center of marketing strategies and campaigns and transform the web audience into active viewers by providing an engaging experience online that boost online engagement.

Conversational Commerce solutions are here to stay

Have you heard about the most efficient and effective conversational commerce solution yet?

Consisting of chat, chatbot, audio, and video, conversational commerce solutions provide a seamless customer experience for your web visitors and have proven to increase online sales and improved digital marketing campaigns. By implementing these conversational solutions on their websites Telco companies get the competitive advantage they need, to differentiate and stay ahead of their competitors.

“In an increasingly competitive industry, it is important to provide a best-in-class customer experience to add and retain customers. If a Telco brand is not performing a task, its competitor will.” Arnnet 

If you would like to learn more how Telcos can benefit from conversational commerce solution, click here!

Originally published on the 10th of June 2015 

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