The tremendous changes and growth in the telecommunications industry have created new opportunities for providers and a battlefield for keeping customers. An increasingly competitive environment has arisen with the emergence of new networks. The ever-changing demands and preferences of customers have shifted the focus of providers towards building customer loyalty.
To compete in this new environment, providers are launching telecommunication loyalty programs to keep their customers satisfied and boost their loyalty.
Due to the subscription-based services, Telecom providers have less opportunity to interact with their customers. Once the contract ends, customers often start to look for providers with better deals.
Telecommunication loyalty programs with an omnichannel approach engage customers at every touchpoint. The program encourages customers to share personal information and use the mobile app by incentivizing them. It also engages customers outside of the buying cycle, which helps deliver a personalized experience to customers.
According to a survey by Accenture, 91% of customers visit a brand that recognizes, remembers, and provides relevant offers.
The key to surviving in the Telecomm market truly depends on maintaining a long-term relationship with customers. Loyalty programs enable providers to:
Customer relationship management and loyalty marketing can contribute to 10%business growth, whereas market share can decrease by 20% due to a lack of customer relationship initiatives in a telecom provider.
Now that we know the significance of telecommunication loyalty programs, let’s go through the various features telecom companies should include in their loyalty programs to address client needs and preferences.
A loyalty program that offers a variety of rewards encourages more people to participate in your telecommunication loyalty programs. The rewards should be exciting enough to interest your customers while focusing on their preferences and needs.
Personal touches, such as sending special rewards for their birthday, will make them feel valued and show that you care about them. It will also go a long way in increasing their lifetime value. Having a loyalty program unlocks lots of possibilities to be creative.
Experian’s survey says that birthday emails with exciting offers witness a 481% increased transaction rate and produce 342% more revenue than ordinary emails.
Deploying tiered programs can help you achieve a higher level of engagement with your customers. With a tiered loyalty program, the more customers rise in the ranking you created, the more benefits they are entitled to. Do not simply stick to one type of program; you can incorporate different features to maximize efficiency and boost engagement.
A customer loyalty program is a highly recommended approach for businesses seeking new avenues to gain customer loyalty. A unique loyalty solution is helping telecom operators reduce churn, retain customers, and increase revenues.
Are you looking for specific insights into how telecommunication loyalty programs can help your company shape customer experience? Get in touch with our representatives today for a free demo.