With 2020 around the corner, it’s time to start thinking about telecom sales strategies that win the competition. According to experts, the worldwide telecommunications industry expects to expand to $1.5 trillion by the end of 2020. The industry is booming but fierce competition between carriers may reduce the market share of each of them. Whether you are a well-established business or a new-comer, an effective customer acquisition approach is essential . Based on the experience of telecommunication companies around the globe, we have chosen five strategies to drive in customer engagement.
1. Product Differentiation
A survey conducted in 2017, revealed that many customers don’t even know about the features of the telecom services they use everyday. Moreover, when Internet service providers name their packages like turbo or ultra, people don’t really understand what they mean. Businesses and customers speak a different language, so putting a human face on telecom services can help step-up the customer experience. After adopting this practice, Telstra, the largest Australian mobile network, saw a 17% increase in customer satisfaction.
2. Customer Experience
The best telecom sales strategies keep customer experience in mind. This approach is vital, especially when the telecom industry is known for low levels of consumer satisfaction. The most important step to take is to shed the bad reputation through improving the customer experience. There are so many things companies can do. However, the starting point is to analyze the feedback and find the source of discontent. This is what a Hong Kong based telecom company did. They optimized their network to consequently reduce downtime and improve connectivity. Furthermore, they notified customers on removing outages whenever they occurred. In the end, the business achieved a reduction in customer complaints by 47% and 34% on 3G and 4G networks respectively.
3. Analytical Marketing
With a vast array of telecom solutions, customers feel confused and overwhelmed. There is hardly any person who needs every single service available out there. Analytical marketing is useful to understand the needs of a particular person or a group. This approach relies on customer data to learn which services suit customers based on their demographics, lifestyle, etc. As a result, businesses can break their plans into smaller segments with more personalized offers. After adopting this strategy, Turkcell managed to increase their profits by $15 million per year. Additionally, they were able to shorten their marketing cycle tenfold.
4. Content Marketing
In this day and age, content is everything. We consume tons of information on the Internet, YouTube, and social media apps. It would be foolish to ignore this channel to communicate with your prospects. Virgin Mobile, for example, seized this opportunity and teamed up with BuzzFeed to target younger auditory. The company created its own news hub that became a source of fun, entertaining, and informative content. Virgin Mobile got to achieve a friendly atmosphere and the feeling of involvement among young prospects. As a result, more than 10% of the audience started considering Virgin Mobile as their next carrier.
5. Video Marketing
A spot-on video message, similarly to an apt image, is worth a thousand words. Verizon, for example, used this strategy to showcase their products and highlight the benefits. As a result, they could improve conversion and decrease the load on their call centers. China Telecom went even further and rolled out its own streaming service. Its goal was to deliver a high-quality picture, cutting-edge technology, as well as seamless user experience. Within two years after its launch, China Telecom gained 2 million new clients. In addition to this, they got hold of around 20% of the nationwide video streaming market.
Telecom Sales Strategies Bottom Line
The key success factor in finding new customers is understanding their needs. Consequently, customer satisfaction and user experience underlie the most effective telecom sales strategies. If you struggle to boost your clientele or you see dissatisfaction, these approaches will help reverse a trend.