customer

CustomerZone360 NEWS

Free eNews Subscription

Telcos Missing the Mark on Customer Personalization, Losing Millions

By Greg Tavarez September 29, 2022

Customer data is a valuable marketing asset in the telco industry – in any industry, in fact – as it could generate millions in new revenues and assist with post-pandemic recovery. The challenge, though, is using that data to focus on the intersection of customer relevance and privacy.

Intent HQ, an AI customer analytics platform, enables telcos to leverage their customer data by targeting that intersection. The platform wanted to dig deeper and find out how people actually feel about their data being used to make marketing, offers and services more relevant and personal to them, and if operators are meeting their expectations.

Intent HQ’s new research survey revealed telcos are, in fact, missing out on millions of unclaimed revenues and failing to meet customer expectations when it comes to personalizing their communications.

The study highlights that telcos are financially disadvantaging themselves by creating a huge disconnect that exists between what they believe they are achieving and the reality of how consumers perceive their operations.

While 80% of operators feel they are doing a good job of personalizing the customer experience, less than half of consumers agree with that sentiment. Customers are ready for more relevance. They want telcos to share personalized offers that are relevant to their interests, but they also want more consent choices and data privacy baked into communications.

Almost three-quarters of customers would give consent or limited consent for operators to use the data held about them specifically for personalizing offers, marketing and customer service purposes. Personalization in this context is about making marketing, customer experience and products relevant and appealing to an individual.

Proper personalization also means knowing a lot about customers and using that data well. Many operators are failing on both counts. Almost a quarter admit that a lack of technology and data infrastructure are holding back personalization efforts and 42% are struggling with the concepts of data privacy, security and auditability.

This disconnect means operators are losing millions in revenues by over-compensating for regulatory compliance when engaging with customers. They fail at finding ways to maximize the value while remaining privacy-compliant.

The data is out there; so are the tools and technologies to use them effectively and appropriately. It’s up to telcos to get the most out of the data their customers are willing to share.




Edited by Erik Linask
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

CustomerZone360 Editor

SHARE THIS ARTICLE
Related Articles

Picture-Perfect Posts: Hookle's New Feature Redefines Social Media Creativity for Small Businesses

By: Greg Tavarez    12/5/2023

Hookle launched its latest feature: smart image suggestions based on AI and high-quality image stocks.

Read More

Cyara Acquires AI Testing Company QBox

By: Tracey E. Schelmetic    12/5/2023

AI-powered customer experience assurance solutions provider Cyara recently announced its acquisition of AI testing company QBox. The acquisition is ex…

Read More

Future of CX Expo Speaker Verint Recognizes Excellence in Customer and Employee Engagement

By: Greg Tavarez    12/4/2023

The Verint EMEA Innovate Awards recognized 28 organizations across eight categories for excellence in customer experience, employee engagement and dig…

Read More

Cisco's App Attention Index Finds Companies Aren't Meeting Customers' Digital Expectations

By: Tracey E. Schelmetic    12/4/2023

Cisco's latest report in its App Attention Index research series has uncovered escalating consumer expectations for the digital experience and increas…

Read More

Operata Introduces New Suite of Tools to Further Customer Experience Observability

By: Tracey E. Schelmetic    12/4/2023

Recently, Operata announced the general availability of its Harmony release, which introduces Tenor AI, a new suite of CX Observability tools for user…

Read More