“In a challenging economic climate with strong price competition, using data to provide a highly personalised customer experience is key to ensuring customer loyalty,” says general manager of customer analytics and interaction at Pitney Bowes Software, Chris Lowther.
The organisation has released five tips for retailers looking to capitalise on big data and they are 5 top tips that we think can be transferred to any industry – particularly for telecoms operators:
- Collect information for the future. You might not be ready to act on a data strategy yet but it is time for all to start preparing for a more personalised future.
- Empower employees. Data is not just for the marketing department, but can be used to help staff interact with customers on a daily basis and prevent them from making the same mistake more than once.
- Trace your customers’ purchase history. Collect information about what is purchased, but also collect information about how it was purchased in order to improve customers experience and assist with cross selling.
- Win back opt-outs. Employees empowered with data to identify opt-outs can gather valuable information on why the customer opted out, and create new opportunities to reinitiate communication with customers.
- Track where customers are shopping. If someone only ever shops online, then sending them a store voucher could be a waste of time and money and is likely to end up in the bin, the report argues.
It is clear that retailers must get their data in order if they want to stay head of the game and it is now dawning on telecoms operators that the same is true for them. Just how can they source, collect and exploit the valuable data that they need to increase revenues and enhance the customer experience?