In the present era, it may be difficult to imagine communication service providers (CSPs) not moving toward digital transformation in some way. The new evolving technology ecosystem, demanding customer preferences, and competitive threats present a new playground where CSPs can play. But while CSPs are readying themselves for digital transformation, the key challenge is in which areas to play and how. According to a survey done by TM Forum on Digital Transformation, the top three drivers of digital transformation are business agility, operational efficiency, and strong customer relationships.
CSPs must look beyond operational efficiency and provide an exceptional customer experience. As such, by adopting a back to basics “ABC” framework, CSPs can achieve new revenue growth and operational efficiency and also creates strong customer engagement and loyalty. The framework is designed to make CSPs future ready and provides a clear direction in this turbulent telecom landscape.
Agility — creating a new growth model
With the telecom market going through a rapid transition, CSPs need to build and deploy a platform quickly, with end-to-end process automation. With the advancement in Artificial Intelligence (AI) and Machine Learning (ML) capabilities, new technology platforms can deliver business process management (BPM) and provides new channels for customer interactions. The speed of deployment powered by technology saves human and capital resources, resulting in efficiency, better execution, and reduced costs for CSPs.
Business — changing the meaning of growth
A key element in the digital transformation journey is customer data. However, not all CSPs can fully capitalize on this. With advanced AI and ML tools, operators are able to analyze their customer data quickly, creating meaning, real-time insights and predictions out of their customer data pool. For instance, Nuance provides real-time insights across all subscriber touch points and offers customized solutions. The business critical role is to treat customers as individuals, building relationships through contextual, relevant, timely and personalized interactions. CSPs must interact with every subscriber at the right time and through whatever channel the customer prefers to create new growth opportunities.
Customer experience — developing a new currency for growth
To create a strong competitive advantage, CSPs need to change the way they interact with customers. AI-powered automated platforms engage with customer interactions across phone, web, text/SMS, mobile app, location, social media, and messaging channels. CSPs can leverage the subscriber data they have to create a strong engagement and customer loyalty program globally using AI and data analytics, along with real-time information around offer conversion rates, subscriber profiles, content usage and network activity. This results in higher ARPU, lower churn rate, and cross-sell opportunities.
AI can also enable digital transformation through improved customer service. The key to delivering a truly effective omnichannel strategy is a built-for-purpose platform designed to engage customers by delivering personalized, contextualized and convenient contact and service anytime, anywhere and in the desired format.
The future for CSPs is hard to predict but doing business with the right framework using all the three ABC elements in place can dramatically improve customer lifecycle management (CLM) and mobile advertising.
