For Telcos, the need for having a full-fledged and fully functional Customer Loyalty Management Program has become a norm. With cut-throat competition, fast-paced churn and the need to stay relevant to each subscriber, Loyalty programs are a great avenue for nurturing the relationship. Gone are the days when a “Customer Relationship” was purely transactional in nature. Today, it has assumed a holistic meaning.
In our previous blog, we stressed on “why” every Telco (regardless of the subscriber base) needs Customer Loyalty Management. In this piece, let us place the spotlight on some best practices to keep the engine up and running.
Create dedicated teams to manage campaigns
Creating rewards, discounts and offers through exclusive campaigns need dedicated teams depending on the scale of operations. To begin with, it’s suggested having the right mix of experienced and fresh talent for slick operations.
Many Loyalty Management solution providers offer a “Managed Services” model to help build, operate and transfer loyalty management teams.
Sign up with the right mix of partners/retailers
Creating a solid retail network is the key to any successful loyalty program. A strong merchant network with nationwide reach across various categories (airlines, restaurants, malls etc.) is the hallmark of a well-administered rewards program. A right mix of merchant network will provide subscribers with varied options for easy redemption of reward points.
Co-branding, joint promotion and campaign communication are made possible by having a common software-based platform for the network to collaborate.
Track the subscriber behaviour closely
Centralizing customer data sourced from multiple touchpoints such as CDRs, CRM help offer a unified view of each subscriber. To create personalised loyalty campaigns, the team should have a multi-dimensional view of each subscriber. Analytical insights into customer behaviour will help managers design loyalty programs for success.
Create a wide category of contextual offers
Customers love choosing from a variety of category-based offers. They should be able to access offers real-time include earning rewards points and easy redemption across multiple channels. Creating a robust structure of Loyalty Management program – tier-based, partner-based, spend-based etc. widens the horizon for acceptance.
Set benchmarks and measure outcomes
Every loyalty offer has a motive. Whilst the holistic goal is to ensure a great CX and maintain centricity, creating goals for each campaign is important. What do you wish to achieve? Better uptake or revenue generation? Once the KPIs are set, measuring outcomes and fine-tuning campaigns helps fulfil campaign goals.
Deploy a capable LMS solution
Running Loyalty Management operations at scale is made possible by a Loyalty Management system. An LMS is like a CRM which integrates data and resources and offers a platform for stakeholders, campaign managers and merchants an avenue to join hands and drive campaigns.
A capable CMS should allow telco marketers to create and manage Loyalty Management programs and measure real-time outcomes. Looking for specific insights on how a Loyalty Management solution can help your Telco give a new meaning to CX? Write to hello@pelatro.com for a free demo/discussion.
