According to numerous studies, customers will pay more for a better customer experience, which represents a real hurdle for TELCOs since they are always perceived as the companies with the lowest customer satisfaction rating.
Business objectives for TELCOs can be grouped into three categories:
- Expanding customer base
- Reducing churn
- Increasing operational efficiency
TELCOs need to be able to acquire the largest possible number of customers, with the lowest possible cost of acquisition. Everybody knows that retention is cheaper than acquisition, and that is why customer retention and building relationships with existing customers is a primary concern. Added challenges are keeping the costs down and getting an adequate level of profitability.
The best way of achieving those goal is to increase operational efficiency and transition to automated communication and channels:
In the preceding diagram, we can see the main areas that influence the profit acquired by a company...