Released: Thursday, July 7, 2016
While telecoms operators have been quick to provide these numerous multi-channel touch points for their customers, few have managed to implement a solution that offers them a ‘Single Customer View’, and provides their customers with a truly ‘omni-channel’ experience. Indeed, while operators have been critical to the process of digitization across other sectors, the industry’s own attempts at digital transformation, in terms of leveraging their established customer relationships to create unique, personalized, joined up customer journeys, has so far lagged behind.
Telecoms operators need to leverage every customer interaction in real-time to understand customer needs and motivations, maximizing every engagement opportunity in order to increase customer satisfaction and deepen the relationship with customers across all channels. These benefits are not lost on operators. But while we are starting to see more examples of real-world implementations of the omni-channel concept, the pace of change is slow, and there is still no hard-and-fast business case for a modern omni-channel CRM that fully meets the complex requirements of the digital operator.
AsiaInfo commissioned independent research consultants, Northstream, to study how organizations in a variety of verticals have realized the benefits associated with the omni-channel and Single Customer View (SCV) capabilities of next generation CRM, and to quantify the benefits to the telecoms sector in particular.
Following extensive interviews with European telecoms operators to validate their findings, Northstream concluded that, with a well-implemented omni-channel/SCV CRM solution, Western European operators could save up to $4.6 billion in OPEX annually.
This was driven by:
• Around 20% reduction in Customer Service OPEX by eliminating duplication of agent work in the contact center and retail store
• Improved Net Promoter Score (NPS), resulting in benefits from increased customer satisfaction and up to 10% reduction in annualized churn
• Up to 30% savings in IT OPEX from back-office streamlining and automation
For the first time Northstream’s research maps out a quantitative business case for Western European operators to invest in a truly omni-channel solution by assessing the OPEX saving benefits that next generation CRM can provide.
