Customers today are demanding more interactive and connected experiences that transcend traditional sales channels. However MNOs still have a lot of ground to cover when it comes to catering to the unique needs of customers. A 2018 consumer insights report by Ericsson shows that more than half of smartphone users – around 56% – expect their service providers to anticipate their needs and pre-empt problems before they transpire. Yet, two-thirds of these customers believe that their telecom service providers fail to understand and grasp their needs.
What could be causing this divide? Most MNOs still use legacy systems and platforms which keeps them in the dark when it comes to:
- Which dormant resellers to activate
- What sales campaigns have resonated most with their customers
- How to segment their customers
- What specific impact these decisions have on their customer experience
Given the fast-moving landscape of the telecom industry, MNOs need to adopt a more sophisticated incentive management approach towards their resellers or agents to attain higher revenues and increased customer retention.
MNOs can increase their sales growth by more than 50% with fully digitized and targeted campaigns for retailers.
Here’s a list of what will be covered in this blog:
The Value of a Fully Digitized Campaigns and Commissions Platform
More often than not, MNOs only actively engage customers at the registration and onboarding process and invest very little time and effort in proactive customer engagement. This leads to low retailer motivation and customer retention. Additionally, with the Covid-19 pandemic imposing nationwide restrictions and lockdowns, retailers are further limited in their sales growth as they can no longer rely solely on their in-store purchases and interactions. This, combined with the lack of effort on part of MNOs and retailers to bank on digital avenues for upsell and cross-sell opportunities, has led to revenue stagnation. Therefore, the surge in digital customer engagement platforms comes as no surprise.
Insights from a McKinsey report corroborate that MNOs that digitize the key areas of their business operations boast a profit margin of 43% as opposed to the 21% profit margin of companies with less digitization.
What can be done?
To cater to the changing consumer behavior patterns and their own growth objectives, MNOs need to take quick action towards digital transformation, and take measures to execute targeted campaigns within specific customer segments, They can further charge these efforts by offering dynamic dealer incentives based on their unique business rules so their retailers act as their wingmen in growing sales.
A high caliber digital platform like our Smart Campaigns and Commissions (SCC) can assist MNOs in doing just that by offering a unified view across different products, extrapolating actionable customer insights based on their behavior and even recommending next steps based on past and real-time insights. With a product that equips MNOs to create, manage, and monitor promotional campaigns for customers while managing dealer commissions, MNOs stand to benefit from a highly potent tool at their hands for boosting sales.
Retailers play a significant role in managing the expectations of end consumers and so it is pivotal for MNOs to motivate them to boost sales with a dynamic dealer incentives management system. A product like SCC allows MNOs to join forces with their retailers to make better and well-informed decisions and bridging the gap between themselves and their customers.
We’ve designed SCC after numerous iterations for one simple purpose: to help MNOs keep a track of their customer needs. With our end-to-end solution, we incorporate business intelligence to serve the entire promotional needs of telecom operators while ensuring their capability to analyze and calculate the effectiveness of campaigns over time. Given that this solution would facilitate the generation of data in real-time, it can also be used to calculate ROI and the overall performance of campaigns.
In order to glean maximum benefits from this, we have ensured that the interface is interactive and user-friendly so that it is easier to run multiple iterations of a campaign by altering various aspects.
Value derived from a fully automated Incentive Management System
Equipped with this kind of digital incentives and campaigns platform, the operator would have the holistic view of the campaigns, with the added ability to manage and execute omni-channel incentive schemes and promotions. Additionally, with the help of data-driven insights, they would also have the capacity to launch meaningful and targeted campaigns aligned with their objectives and unique needs. This, in turn, ensures reseller campaigns to have timely and appropriate interaction resulting in higher success rates and ‘higher marketing return on investment’.
As the aim of the said campaigns is sending the right marketing messages to resellers and agents at the right time and through the most appropriate channels, a digitized incentive management system ascertains the selection of the right segment of resellers and regions, with the highest output yield . To measure the efficacy of the campaigns and incentive programs, it also tracks the performance of the on-going campaigns and allows MNOs to make changes in the incentive strategy accordingly.
With the in-depth analysis of the campaigns and incentive journeys as well as the 360 degree view of the reseller activities, the operators can:
With the help of a fully automated campaign and incentive management system like SCC, you fill two needs with one deed. It enables you to both grow sales and use bespoke incentives to turn dormant resellers into active ones.With the telecom industry becoming more data-driven by the day, the increased visibility that a product like SCC brings across your daily operations is valuable in helping you design data-driven and targeted campaigns that enable you to derive actionable insights and generate profitable results.