The progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service begins with awareness. Yet promoting digital visibility in the face of competitive pressure has traditionally been challenging for the Telco industry. Awareness is a critical piece of the puzzle, and strategies for improving awareness can advance the customer journey lifecycle. In part one of a multipart series, I highlight key challenges and goals of awareness, the first of seven phases that create the Telco customer journey lifecycle.
Raising Awareness – Key Challenges
Standing out in a noisy digital space. The connected world is noisy and Telco companies face challenges with standing out and attracting relevant traffic to digital assets. How do you differentiate yourself from the competition? By ensuring prospects who are driven to your webpages receive consistent and relevant content that’s based on what they’ve done in the past. Reduce the number of steps in the customer journey by ensuring that when they return to your site, prior activity is considered in content they see. The goal is to make certain customers are aware of not only the content, but also, the path they take across your site.
Downward pressure on margins and increased advertising costs. Intense competition in the market is forcing Telco companies to adjust pricing and cost models. Mobile network providers face significant pressure from cost as reduced margins, higher ad spend, and handset subsidies have made it increasingly difficult to perform. Are there implications of ending handset subsidies? Some US carriers think so, and many are offering more transparent pricing around plans and devices. With increased flexibility in pricing, companies can provide more choice for the consumer.
With ad spend increasing, driving more traffic to less expensive channels can offer a more personalized experience such as the digital channel. Sharing segments or audiences with 2nd or 3rd parties can make advertising more relevant by enhancing targeting. For instance, avoiding existing customers and targeting new customers only can decrease ad spend significantly.
Providing a seamless, personalised customer experience. Customer experience is everything, and consumers browse through multiple devices (PC, laptop, mobile, desktop, Smart TV, etc.) on a regular basis. Ensuring the journeys are stitched together seamlessly across devices is critical for providing insight into the content your customers browse. And that drives a truly personalized experience that few in the industry are doing today.
In fact, when marketers from Telco companies were asked to identify the challenges they face most with digital systems, 70 percent said that current systems do not deliver enough personalisation of digital communications and customer interactions.
The Role of Data
According to the same survey, over the next 18–24 months, data-driven marketing will be the most important area of investment for Telco. No surprise here—in the customer journey lifecycle, data is king. Information that’s shared via dashboard can inform modeling, where look-a-like segments (based on behavior and shopping traits) can help predict next steps or provide content based on location or type of device, which attracts new prospects that are likely to buy.
Using this data effectively will help designers improve pinch point across your site, engage development teams who create new functionality and show marketers which channels drive converted traffic rather than noise—a key benefit if you plan to introduce attribution modeling.
The companies that are getting it right are able to push new offers to prospects while promoting services and supporting messages to existing customers. They’re also able to use third-party information such as credit worthiness when offering contract or pay as you talk offerings. Finally, with the growth of mobile advertising, those who are successful will be able to sell advertising at premium prices as they will know where the customers are, what their favorite hobbies are, the jobs they hold, etc.
If you would like to learn more about raising awareness or explore what our customers are doing, I highly recommend the EMEA Adobe Summit event this May at the ICC ExCel London, May 10th and 11th. Learn how you can combine creativity, content and data to create compelling experiences for your customers.