Hyper-Personalization- Tackling the Portended Future of Telecom
For a long time, individual attention and unique personalized services were mostly reserved for the elite band of customers. But hyper-personalization is going to be a game-changer there. Gartner reports that almost 90% of companies now compete primarily on the basis of customer experience, and it’s been predicted that in the next few years, it will overhaul price and product as the leading brand differentiator. Hence, businesses need to realize that offering merely an efficient or even tailored customer experience that is “good enough” will no longer suffice.?
Here are a few more reasons to adopt hyper-personalization backed by data;?
What is hyper-personalization and what does it entail for telecom??
Hyper-personalization, where the ‘Power of I’ is recalibrated and becomes essential, is the use of real-time data, AI, ML, and predictive analytics to get better information from your customer base at an individual level and, in turn, act appropriately on that information. When you hyper-personalize, you create exceptional customer experiences that constantly take into consideration and adapt to the people using your apps, their job roles, their needs, their backgrounds, their preferences. It lets you level up your customer experience and deliver distinct, individualized experiences at scale.?
From increasing profitability to brand allegiance and reputation, customer experience matters, especially in industries like telecom where competition is at its peak. In order to keep customers from switching carriers, telecom businesses have to create an exceptional customer experience, while at the same time, upselling and cross-selling new products and services, and turning reluctant customers into loyal promoters. This is why so many telecoms are turning to experience platforms to help them with hyper-personalization.?
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The Way Forward for Telecoms?
Hyper-personalization would allow telecom players to deliver tailored experiences to customers, nudging them toward the next best step in their buyer’s journey and increasing their loyalty to the company. In turn, these tactics can increase retention, and overall customer lifetime value, for the company. The telecom company that stands apart from the crowd through its digital experience will grow a loyal fanbase whose members won’t even think about switching carriers.?
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So how can telecom businesses efficiently and rapidly build offerings that simultaneously meet the distinct needs of every user and are scalable across all users, not to mention its cost-effectiveness??
Low-Code for the Rescue?
Low-code/no-code platforms have become a burgeoning presence in the business world today and are gradually accelerating telecom innovation and empowering their digital transformation. It has become the hottest thing in the telecom industry to address many aspects of the agility challenges. And a recent survey stated that nearly 45% of the telecom operators had already implemented some form of a low-/no-code solution in their enterprise.?
Making integration and customization simpler, low-code development platforms enable the rapid delivery of business applications and quicken innovation development. By deploying low-code business support systems, telecom operators can build unique digital experiences and accelerate new products launch, quickly adapt to market needs, and most importantly help in enhancing customer experience and thus maintain competitiveness.?
Leading low-code platforms like Mendix is helping telecom players leverage rapid innovation, and embrace and tackle the challenges of hyper-personalization to win over the market today.??
Intelion Systems, a mindful AI and technology consulting company enabling the digital transformation of businesses, has partnered with Mendix to help telecom businesses navigate their way through complex technology problems and eventually achieve agile, scalable outcomes.??
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