3 Goals of CSPs to Boost Revenue and Improve Customer Experience
The past several years have witnessed immense transformation in the way we communicate with each other. The communications industry has transformed as new technologies including smartphones, cloud access, and social networks have changes the way we share information and add value to our personal and our professional lives.
In the digital world, Communication Service Providers or CSPs have become increasingly more important as they shift their focus from infrastructure only to adding value, boosting revenue, and delivering a first-class customer service experience.
Increased competition and the high costs of customer churn are forcing CSPs to work on improving customer experience with a seamless process no matter the device being used or channel being accessed.
However, ongoing consolidation has made overcoming these challenges more difficult. It has also left CSPs looking for solutions to handling multiple data silos and creating a consistent network.
CSPs focus primary on three goals:
#1 Reduce customer churn.
According to a 2014 report, “CSPs can expect to keep only about 50% of their existing customer base over the next 12 months.” Additionally, about a quarter of all users globally say they will definitely change providers.
#2 Maximize opportunities to increase subscribe revenues.
CSPs look for ways to offer a solid customer experience, create new services, and improve offerings based on the interests of customers.
#3 Deliver a personalized and consistent customer experience.
Reducing churn and boosting the subscriber base means creating an efficient process that is seamless across all channels and devices, minimizing the number of tech support calls and increasing brand loyalty.