Marketing for telecom can be difficult, which is why we’ve already shared some of our top telecom marketing tips for 2020. But we have two more tips to add to your telecom marketing efforts: take advantage of the sales funnel, and leverage customer behavior data.
Let’s explore how to put these two 2020 telecom marketing tips to work for you.
1. Take Advantage of the Funnel
Customers—both potential and current—should be marketed to continuously, no matter where they fall in the sales funnel. As we’ve said before, customer experience (CX) matters. In fact, it matters most.
Customers no longer care about pricing or products as much as they care about their overall experience with a company. If your telecom business provides an excellent customer experience, then you’re more likely to retain loyal customers.
And if you think that investing in customer experience isn’t worth it, think again. The Tempkin Group reported in its Tempkin Experience Ratings Report that companies that make $1 billion per year in revenue can accrue $775 million over a three-year-period by simply “modestly improving the experience they deliver to customers.”
To hammer this point home, Gartner found in its Customer Experience Survey that 81% of marketing leaders, “expect to be competing mostly or completely on the basis of CX.” Needless to say, in the grand scheme, prioritizing customer experience through each point of the sales funnel is the top telecom marketing tip of 2020.
2. Leverage Customer Data
There’s a good reason why leveraging customer data is the second of our telecom marketing tips for 2020. Companies that utilize customer behavior data to gain behavioral insights beat out the competition by 85% in sales growth and over 25% in gross margin, according to research by Gallup.
For telecom companies, this is huge since one of the biggest sources of business is current customers – through upselling and cross-selling. But being successful at this requires knowing your customers extremely well.
“The key to understanding [customers] can lie more in what they do [than who they are],” explains Gary DeAsi of Pointillist. “Quantitative insights revealed through their behaviors can paint a much more accurate picture of what [customers] want and need, and how and when to best deliver it to them.” The wealth of data that telecom companies have for current customers can be fed into AI tools to develop personalized offerings and product recommendations that can notably increase their customer lifetime value (CLV). Not too shabby!
Telecom Marketing Tips to Take Into the New Year
Effective marketing for telecom doesn’t come easily, which is why many companies turn to consultants for outsourced marketing support. To effectively implement all of our telecom marketing tips for the upcoming year, consider hiring a part-time marketing consultant like JABR Marketing. Schedule a call to learn how we can support your telecom marketing needs for 2020 and beyond.
Wishing you a wonderful holiday and a great start to the new year!