Boost Your Marketing in the Telecom Sector to Reach More Customers

Telecom Business Review | Monday, August 16, 2021

The telecoms industry is one of the most competitive in the world. The U.S. telco industry, for example, loses $65 million per month to customer churn.

FREMONT, CA: The telecoms industry is as competitive as they come. U.S. telcos lose $65 million per month due to customer churn. TTelcos in mature markets spends 15-20 percent of their service revenues on customer acquisition and retention, compared to 15 percent on infrastructure. The marketing of telecommunications is an integral component of this mix. If a telco's marketing strategy is effective, it will reduce churn within its own business and attract dissatisfied customers from competitors.

The essence of effective telecom marketing strategies

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The primary marketing challenge that telcos face today will be familiar to many other consumer-facing businesses: how to deliver relevant, personalized digital experiences that add genuine value to customers' lives. The telcos need to offer new experiences easily, increasing customer contacts' number and value.

These objectives have never been more challenging to attain. Consumers are more enlightened than ever and expect to interact with brands across multiple channels and digital platforms. Additionally, they are more knowledgeable than in the past and eager to share negative experiences on social media.

The key to a successful telecom marketing strategy is understanding the requirements and journey of the customer. According to the Global Head of Telecoms & Media at KPMG, "Telcos are at a strategic crossroads, and success in the new reality requires putting the customer at the center of their value propositions."

First-party data in telecom advertising

Telcos can achieve this objective by leveraging a powerful asset currently underutilized: their first-party customer data. By leveraging this intelligence, telcos can help customers by tailoring experiences to their unique needs and preferences.

The emergence of privacy-first marketing strategies has made it possible to utilize first-party intelligence in this manner. In the past, campaigns that aimed to reach specific audiences at scale and include content for specific audiences to engage with required the use of third-party cookies and Mobile Advertising IDs (MAIDs). This invasive approach did not respect the privacy of customers.

Privacy-centric alternatives are emerging, such as Novatiq's Fusion Platform's Zenith ID and Hyper ID, with the deprecation of third-party cookies and MAIDs. This approach is unique because it is centered on the telco's network. Here is how it operates:

Better informed telecom marketing

The Fusion platform enables telcos to integrate their users' interactions across devices and platforms. Consequently, they can construct a complete, 360-degree view of their users.

The strategy also allows telecommunications companies to save money that would otherwise be lost. The Fusion platform provides telcos instant visibility into which users are already customers. Then, these users can be omitted from acquisition campaigns, saving money that can be better spent elsewhere. For instance, Novatiq's ID-enabled approach optimizes marketing programs and ensures that telcos get the most bang for their buck.

Advantages for telcos and clients

Telcos and consumers both benefit from this innovative approach to telecom marketing. Telcos can reduce their churn rate by understanding the customer journey better. They can also increase the performance and decrease the cost of campaigns for customer acquisition, customer retention, cross-sell, and up-sell. One telco, for instance, saw a 50 percent increase in ROI and an 82 percent increase in click-through rates due to enhanced audience insights enabled by Novatiq. Telcos will be able to benefit from enhancing their affiliate programs by layering I.D.s and intelligence to expand affiliates' opportunities.

Customer benefits are also significant. A telco-verified I.D. enables seamless customer experiences without compromising their privacy. Marketing becomes an integral part of the cherished brand and contributes to the telco's ability to retain customers longer.

Any differentiating factor can make a difference in a field as competitive as telecommunications. The emergence of marketing strategies that prioritize privacy is a significant development. Telcos that adopt the methodology first will have the upper hand in the race to provide superior customer experiences.

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