The data-driven mindset has changed how organizations engage with their customers. Given that telecom operators have an abundance of customer data, it is evident that they will rush to use that for various purposes, one of them being customer engagement. The market has saturated for new customer acquisition, so the only way forward is through existing customers. A campaign management solution becomes a very crucial Martech piece for telcos to help them increase the CLV, enhance ARPU and reduce churn. But this we all know. The question here is, how to decide what kind of campaign management system is good for you? How to assess different solutions available in the market?
But why should you listen to us on this subject? Good point!
To give you a snapshot of Pelatro, we have almost three decades of telecommunications experience. Our customer engagement solution is used by various operators across the globe and processes over 1 billion subscribers’ data. So, we have some authority over the subject matter.
Now let’s get back to the problem at hand. How to find the right campaign management solution that fits your requirements.
Here is an 8-step process to help you find the best solution.
Setting the objectives
Setting up the goals and objectives will help you clarify what you need to get to targets. When you plan to invest millions of dollars in any solution, you need to know what you plan to achieve with that solution. It can be as simple as reducing churn by 30% or improving the customer experience score.
Understanding the organization and market maturity
Why is this important, you may ask? Imagine investing in a best of the breed solution with all the AI/ML capabilities, advanced analytics, fully automated and real-time decisioning, generates hundreds of reports each day, and can cater to any digital ecosystem? Suppose you have invested a few million dollars in this solution, but later, you realize you could have achieved the same or better results with fewer capabilities. Imagine the challenges when you try to integrate it with existing legacy infrastructure? Not so much of a smooth ride, right! We have seen organizations going after the AI/ML buzz, but you need to reassess your requirements before committing to such heavy investments. You should definitely look for scalable solutions but not at the cost of present requirements.
Solution Capabilities
Map your requirements with the solution capabilities and see how efficiently you can achieve them. This is a smart way to assess the capabilities you exactly need to address your business challenges. The important thing here is to not only invest based on current challenges but what you will face in the next 2 to 3 years and see if the solution is futuristic and scalable.
Synergies between the operator and the vendor
Often a neglected area, but it is critical. Digitalization has led to the growth of ecosystem driven business models where different stakeholders across the value chain come together to create a unified and complete experience for the end customer. And if you and your ecosystem partner (i.e.) your vendor are not aligned on this, it can lead to a broken experience for your consumers.
Integration with your existing systems
Telcos most of them, if not all, are built and run on heavily invested legacy infrastructure. Hence, it becomes crucial that whatever new solution you invest in can integrate with the legacy infrastructure and still deliver the best results for traditional and digital services. Not only this, but it should also be futuristic and scalable to support the digital ecosystem and help you grow. Some basic things to look for are API driven microservice architecture that allows the creation of a more flexible digital architecture. Also, be mindful of the time requirements from project kick-off to going live.
Look for success stories/References
References are a great way to assess if a solution/vendor is the right fit for your business. Vendors working with operators of your scale, maturity and operating in a similar market can be potential partners, but you obviously need to analyze the vendors on other parameters specific to your business.
Budget
Do a careful market analysis of available vendors. See what kind of operating model (OPEX or CAPEX) you would like to invest in. Most traditional operators prefer the CAPEX model because they are used to it. But the new age, digitally-driven telcos are moving towards the OPEX model as it gives them agility and flexibility to experiment at pace and scale, and also, you are not shelling out a large chunk of money initially. CAPEX model makes changing the course and agility unfeasible. Also, the competitive market driven by digital natives is shifting the choices that telcos had in the past.
Why choose Pelatro over other vendors?
Pelatro has successfully enabled 22 telecom operators across the globe to drive their customer engagement with mViva Customer Engagement Hub. The platform is a one-stop solution that helps with in-depth customer analysis and offers real-time hyper-personalized campaigns with the segment of one targeting at scale. The company’s key strengths include deep domain expertise to assist telcos with data analysis and campaign design through big data capabilities enabled by AI and ML techniques and managed services. The platform can suit the need of any operator of any size (we have customers from a few million subscribers to 400+ million subscribers).
Interested to know more about mViva Customer Engagement Hub? Click Here
