In the last few years, the impact of digital technology and the need for digital transformation have been the hot topics in almost all industry forums and events. This is mainly because, the wider application of digital technology and the way it extends the scope of existing technologies have made it imperative for all industries including telecom, IT, retail, finance, automobiles and education to adopt digital technology. Industries that have failed to evolve with the transformation have either gone bankrupt or are nonexistent.
Telecom industry is one of the prominent industries that is going through the digital transformation. With digitization reshaping the industry, telecom operators are facing challenges from OTT players. In the past five years, the telecom business is going through slow decline as core voice and messaging businesses continue to shrink and social media platforms such as Facebook, WhatsApp and YouTube are being widely used for personal and professional communication.
The increasing importance of social media has led operators to provide next-generation engagement platforms such as telecom portal (e-commerce website), customer web portal, mobile app, kiosk at public places, social media platforms, e-mail, interactive voice response, chatbot and click-to-call.
However, when it comes to resolving queries, customers have to either visit the store in person or contact the customer care via e-mail or phone. Digitization is set to change it all. Telecom operators can now offer innovative real-time self-care facilities to enhance customer experience. The benefits of using feature-rich customer engagement platforms are far more than the cost involved.
According to Forrester report, 89 percent of subscribers are willing to switch their operators if they are unsatisfied with the customer care. As per Gartner report, cancellation rate can increase by 15 percent if organizations fail to respond to customers on social media. So, it is evident that the customers need to give more importance to self-care options, which have a crucial role to play in improving customer loyalty and satisfaction.
In this context, it is important for us to understand the benefits of self-care in enhancing customer experience.
What are the benefits of self-care?
Reduce customer contact center cost: Self-care reduces the operational overhead cost of serving inbound support calls and email enquiries.
Improve customer loyalty: Self-care minimizes churn by improving customer experience. It enables the operators to easily connect with their subscribers and ensure faster query resolution resulting in increased customer satisfaction.
Increase revenue: Self-care allows subscribers to access, manage and configure plans or services from anywhere and on any device which enables cross-selling and up-selling of revenue opportunities.
Personalization & promotional activities: Personalized self-care app gives more control to customers. Operators can roll-out new plans which in turn increase revenue opportunities.
Customer behavior analytics: Operator can capture and leverage data collected from frequent transactions through self-care channels and advanced analytics helps operators to provide real-time contextual offers.
Acquire new customers: Anytime, anywhere access allows operators to increase their subscriber base by enabling mobility and real-time access to service and support.
With the changing digital landscape and customer expectations, providing a seamless self-care service remains as one of the top priorities of telecom operators on their path towards digital transformation.