Oracle has published research which it says reveals that while telecoms companies are focused on providing a more personalised and compelling customer experience, the processes and systems they have in place leave them unable to achieve this goal.
The research also found that many Communication Service Providers (CSPs) are planning to broaden their range of content through partnerships – however, they face challenges in supporting a full range of billing options to capitalise on the opportunities these partnerships would present.
The research shows that telecoms firms have, on the whole, begun to focus on many strategic goals. Their top priorities revolve primarily around reassuring customers and offering them a richer, more personalised experience:
-Tailoring offerings to customers’ needs is highlighted as a major focus by 82 per cent of respondents
-Information security (80 per cent)
-Building value added services around content (70 per cent)
-Providing a compelling, intuitive user experience (68 per cent)
-Deepening specialism in core areas of expertise (68 per cent)
The trend towards personalisation is also reflected in the specific services telcos were planning to launch in the next three years – three-quarters (76 per cent) intend to deliver content personalised to each individual, while seven in ten (70 per cent) plan to provide content based on users’ behaviour and preferences.
However, subsequent findings revealed that the majority of telcos’ customer management systems lack the sophistication to deliver tailored experiences based on customer insights:
– Just 12 per cent are able to run detailed analyses of customer behaviour to spot trends and identify customer segments
– Only 16 per cent are able to provide detailed insight into individual customer behaviour
– Fewer than half (44 per cent) are able to track marketing and loyalty programmes across all channels for specific customers
– Only 46 per cent are able to provide recommendations to customers based on the context of their current interaction