Let’s dig deeper into this blog and understand how contextual marketing and loyalty management are helping telcos enhance the customer lifetime value and generate higher revenue.

Understanding your customer behaviour and their preference 

Contextual Marketing and Loyalty Management solutions are centred around providing the optimum customer experience by using customer data and segmentation principles. This improves the cross-sell or upsell campaign outcomes, resulting in high customer uptake. Contextual campaign solution helps design hyper-personalised offers based on the context or relevance to the customer, and loyalty management rewards subscribers for their trust, usage, promptness, and age in the network.

Enabling customer segmentation for easy targeting 

Customer Lifetime Value allows easy segmentation on multiple parameters such as high CLV or Low CLV customers and engages them with a different strategy. Marketers can create a campaign strategy based on ascending ARPU and target customers at various junctures. Customers with a low CLV can be grouped and launch specific plans and offers to increase ARPU.

Customising hyper-personalised offers and plans

Telcos can use Clustering and Machine Learning techniques to design campaigns and make offers at the N=1 level. Segmentation and personalisation offer a sense of “gratification”, resulting in improved acceptance and uptake among subscribers.

Allow churn prevention and retention

Big data analytics and AI/ML have allowed deep insights into customer behaviour. Churn prediction models built using customer data offer inputs on a customer’s propensity to churn. This equips Marketing or Campaign Managers to design preventive offers for a longer relationship and better CLV.

Pelatro’s mViva Loyalty Management Solution has added a level of dynamism in Loyalty Management for a leading Telco. It has enabled Loyalty Management teams to identify potential churners and launch loyalty offers to a signed-up base of 13 million subscribers delivered across multi-channel/multi-language communication.

Optimising campaign costs and tuning campaigns

In today’s complex world with dynamic subscriber behaviours, real-time analytics plays a crucial role to help the Customer value management teams make timely and data-driven decisions. An interactive dashboard can provide a ringside view of the campaign performance allowing managers to intervene at critical junctures. New-age Contextual Marketing solutions with intuitive UI for slice and dice of data help optimise campaign costs and fine-tune campaigns for best results.

Rewarding loyal customers

Timely rewards to loyal customers help telcos nurture the relationship and add value to a customer. With the help of a Loyalty Management platform, rewards and offers can be designed and delivered by analysing preferences and behaviour. A capable Loyalty Management solution should also offer data monetisation opportunities through partnerships with online/offline retailers for exclusive offers.

Happy and satisfied customers often go the extra mile to promote their positive experience with the brand, the network, and services and create the necessary word of mouth.

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.

What better than a well-executed Loyalty Management program?

Customers feel instantly gratified through rewards, offers and discounts that are tailored based on their usage and behaviour. There is a sense of elevation and appreciation when contextual and personalised rewards are offered through a formal channel like Loyalty Programs. To stay relevant, Telcos should aim engagement at subscriber level in loyalty-based programs. Rewards and recognition are the crux.

Loyalty Programs – A Proven Approach for Customer Retention

Annual churn rates for telecommunications companies average between 10 percent and 67 percent (Source: Database Marketing Institute).

For Telcos, driving a full-fledged Loyalty Management program is the key to unlock a world of opportunities. The primary goal is Loyalty management is retention. However, there’s more to it than just preventing customers from leaving the network. Let’s look at some of the most viable benefits.

Create new revenue streams: Partnering with offline/online merchant implies earning opportunities through a new P&L.

Boost mainstream marketing efforts: A great value-add to the existing campaign management system. Loyalty programs complement everyday efforts by contributing to trigger-based marketing campaigns.

Add value to CLM: Adds a great deal to Customer Lifetime Management (CLM) by enhancing the lifecycle of each customer in the network.

Customer Experience: With Loyalty Management, a new dimension is added to the Telco’s efforts to remain customer centric.

Loyalty Management System – An Engine to Design Contextual Offers for each Customer

For uninterrupted continuity in effectively managing Loyalty Programs, Telcos need a highly capable and scalable Loyalty Management system. Here are some of the benefits of deploying Loyalty Management Solution.

Plug and play: The most well-known solutions are by large “plug and play” or a one-time installation which implies faster implementation and time to market.

Equips teams with real-time insights: With a Big Data Analytics backed tool at their disposal, campaign managers can design, forge, drive campaigns and measure them real-time for effectiveness.

Nurture merchant network: Most importantly, it allows the retail partner network to access a common platform and jointly participate in running loyalty programs with the Telcos. Offers a great sense of inclusiveness and ownership.

There’s more to Loyalty Management than just retention. Considering the competitor is always on the prowl for signing up disgruntled subscribers to its network, Customer Loyalty Management is a highly recommended approach for Telcos seeking newer avenues to customer centricity.

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.