The most promising way for mobile service providers to achieve higher service monetization of data services is by providing their customers with what is most relevant and meaningful to them, when they need it. It’s really obvious.
However, even though we are all very different and dynamic individuals, our mobile provider predominantly try to serve us according to our data tier. Moreover, the interaction is often “buy and forget”. We buy a SIM with a data price plan and forget about any interaction with the mobile provider. And then, all of sudden, when we exceed our allowance in the middle of watching a video, our provider throttles us and we cannot continue to watch the video. That’s hardly conducive to winning the hearts of customers and monetizing the opportunity of data services.
Our new Data Solution enables mobile providers to do things differently. It is based on the understanding that each and every customer’s digital lifestyle is much more than average data volume, and that customer needs change in different situations, such as when they are at work, at home, on holiday, or just showing clips to the kids.
In my book, customer engagement today is all about putting the customer in the center. And to better serve customers, mobile providers have to sense what is important to their customers at any given time. They have to be aware of what their customers are trying to do in real time, from listening to music and sharing pictures to sending an important presentation to the boss. Once they achieve this awareness, they can apply business wisdom with personalized real-time offers and actions that will result in more satisfied customers and increased revenue.
Furthermore, in today’s rapidly changing and competitive market, our solution enables mobile providers to offer innovative and personalized services on-the-fly, without extensive IT implementation cycles. The good news is that in most cases the infrastructure already provides excellent core capabilities, including PCRF policies and online charging. They just need to be better utilized by adding smarter and more contextual business logic. Typical examples include tailored/personal offers, implementation of on-demand contextual services, activation of products and price plans, application of dynamic network policies (such as speed and zero-rate traffic), and enhancement of the subscriber digital experience.
So how can mobile providers achieve higher monetization, better experience, and drive loyalty? In my opinion, it’s by providing personalized, real-time customer engagement. By providing a personal touch and experience that gives customers what they need, when they need it.
Next: My operator really does understand my needs…