Page 113 - SAMENA Trends - September 2019

ARTICLE SAMENA TRENDS

to 550 million on Amazon. A digital managing their business end to end By registering on social networking sites
marketplace enabled by telecom can work while realizing new efficiencies and such as Twitter and Facebook, vendors
to overcome these limitations by bringing opportunities. In this digital ecosystem, explore new platforms to market their
buyers and sellers of digital services on a telcos will new tools to manage partners, latest services, products, and solutions to
single platform. Similarly, with the rise of as a highly motivated and connected gain public feedback and opinions.
voice assistants like Alexa, today’s digital partner would become critical for their
first customers are getting things done continuing growth. For example, a Fleet Speaking of retention customer attrition is
through voice search. Telecom companies on street app (FOS) provides partners with a lost investment for the telecom company,
with a digital mindset can use this channel the visibility to drive business efficiently. as it can cost 10 times more to bring a new
for streamlining customer acquisition. Similarly, with commissions defined in customer than retaining one.
With IOT devices proliferating and reaching digital supply chain, commissions would
1.1 billion connections in MENA, Telcos be paid out in real time as soon as the sale Rather than using rules based loyalty
need to integrate their digital services is made motivating the partners to work or churn management solutions, telcos
with these for seamlessly acquiring and even harder. should be looking at customer data for
delivering digital services. As per Internet getting insights on their customers and
Trends Report 11% consumers purchase Customer service is critical to every reducing churn The best way to retain a
a product/service immediately after enterprise. Over the years, telecom customer is to keep him/her engaged.
discovering it in social media and 44% companies made massive investments Improving recommended services is still
purchase it later. Social media is driving in back offices, self-care apps, as well a challenge and telcos are yet to match
both product discovery and purchase. billing systems to improve the customer OTTs in this respect. OTT players like
experience. However, the coming of the Netflix boast of their users consuming
At the backend of every telecom service digital tide has changed the customer’s 8 of every 10 recommended content.
is distribution and fulfilment. An efficient definition of service. Today’s customer Telcos need to deep dive into consumer
system would consist of an ecosystem of wants to be serviced quickly, without behaviour and recommend services
motivated partners working efficiently, on any hassles. No one wants to talk to a accordingly. To be able to reduce churn,
time, driving value. Traditional distribution customer service rep these days. Long telcos need to be ready with the next
and fulfilment systems were built for a pre- wait times invariably lead to attrition. best option for a customer. The increased
digital world, with static workflows. Order Also, the services have to be rendered importance of sentiment analysis and the
raised in system would’ve to go through intuitively, with each customer interaction advances in text analytics are encouraging
several hoops – supplier, whole-seller, improving iteratively basis learnings that organizations to include social media in
retailer before getting fulfilled. However, in were gleaned from the last interaction. their business processes and help predict
a digital world, where time is of essence, complex consumer behaviour and reduce
telcos need digital workflows to drive With the proliferation of virtual assistants churn and increase customer satisfaction;
speed and innovation. telcos will have to make it easier for thereby increasing the lifetime value of a
customers to service their requirements. customer.
In this context, a digital supply chain With AI and Machine learning, telcos
would allow telecom operators to get a will be able to know their customers The below picture shows the modules
comprehensive, real time view of their better and provide highly contextualized Comviva has to offer for every stage of
business, which would help them in services catering to customer personas. Digital Customer’s lifecycle:
Digitalization will
play a big role in
managing Sales

and Distribution
system much more
effectively for real
time tracking of
sales, inventory,
new product launch,
effective utilization

of feet on street
and incentivization
of the channels.

113 SEPTEMBER 2019