Use your data and automate
Kelvin Chaffer, CEO of Lifecycle Software, and Liz Parry, CCO, provided insights into how Lifecycle has streamlined processes for MVNOs, supporting brands like Plusnet Mobile and Smarty Mobile. They discussed making data available, optimizing its use to enhance customer experience, and monetizing strategies for improved sales.
Why is data important?
Kelvin Chaffer - Lifecycle Software (KC): “Knowing your customers' details—where they live, their age, call history, data usage, handset information—eliminates the guesswork. (...) The more you desire to understand the customer, the better the customer experience you can provide. This creates an insatiable cycle, enabling you to predict and identify potential issues.”
With enhanced knowledge, customer experiences can be more precisely tailored. Consider real-time Converged Charging System (CCS). Tracking network-related call failures unveils various causes, some beyond control. However, if the failure stems from the offered proposition—like data depletion or international calls—you can promptly react. Sending notifications, whether through SMS or push notifications, explaining the call failure, and suggesting solutions enables quick customer assistance. Leveraging this approach, we achieved a 33% increase in add-on upsells for one partner, significantly impacting revenue.
To prevent revenue loss, networks must use available data for churn prevention. Analyzing customer behavior through triggers like reduced call activity or data usage enables proactive measures, triggering campaigns and promotions to prevent customer migration.
Real-time engagement is crucial, and by initiating notifications in real-time, you can achieve a 20% increase in engagement.
When it comes to the efficacy of telecom campaigns, utilising real-time data is essential for achieving true hyper-personalisation. Outdated data can result in frustration and even churn, as individuals become annoyed by irrelevant offers. In our experience, tailoring offers based on real-time triggers has a clear effect on conversion rates. For instance, one of our customers set up a campaign to recommend the purchase of add-ons when certain criteria are met. They have seen a 33% increase in add-on purchases.
The return on investment for a campaign management system using real-time data is higher than one relying on standard campaign management. Every customer interaction is an opportunity, and leveraging real-time data makes a significant difference.
Roaming is another significant aspect. The expansion of eSIM has recently gained traction, which may impact roaming revenues. Operators can minimise potential losses by using real-time information to inform customers about the best tariffs and recommended top-ups.
Real-time CCS helps identify when a customer enters a new country, allowing for prompt triggering of events or campaigns to guide them on optimizing their roaming experience. This eliminates the need for customers to switch to another provider.
Service Experience is tied to understanding users' capabilities and handset features. Forty percent of consumers prefer personalized retail experiences based on their handset functionalities. Knowing if a customer has Wi-Fi calling available enables tailored information directly to the customer, avoiding generic emails that might end up in junk folders.
With precise data capture, the impending shutdown of 3G networks affecting two to three million users in the UK can be addressed without a broad email outreach. Targeting specific users based on their handsets allows for tailored advice, whether it's an upsell for a new handset or guidance on continued call-making.
How to automate data collection? How does it work in practice?
Liz Parry - Lifecycle Software (LP): "MVNOs typically operate on legacy systems with dated infrastructure, facing the intricacies of network complexities. They are built on layers of hardware and software processes that are difficult to navigate and control. Frequently, there are multiple vendors, creating a complex landscape lacking direction and filled with twists and turns. (...) MVNOs experience frustration due to inflexibility, encountering challenges in scaling and significant costs. Managing these challenges consumes time and resources, diverting focus from what's important—the customer. MVNA operations are inherently complex, requiring an understanding of regulations, billing, and network integrations."
Lifecycle seamlessly integrates with networks, ensuring regulatory compliance and adherence to industry standards. Their advanced automated solutions simplify complexity, enabling MVNOs to concentrate on essential areas like marketing, strategy, and improving customer experience. Liz illustrated their solution with an example, showcasing Smarty Mobile's impressive subscriber-to-employee ratio of 13,750 to one, comparable to major tech companies. The credit for this success goes to top-notch software development and automation, evident in Smarty's leading Trustpilot rating of 4.2 among MVNOs. Smarty's rapid growth in the UK serves as a testament to the effectiveness of data-driven strategies.
LP: “In our systems, over 99.95% of transactions are automated, with lightning-fast transactions per second and rapid CCS processing time in milliseconds. Our platform offers thousands of simple-to-configure automated workflows.”
Answering the question from the audience about the implantation of their solution, Kelvin cited their event intelligence system.
KC: “The crucial aspect is to look at passing that data into this system as quickly as possible. The Event Intelligence system is a no-code platform that allows you to manage your workflows and trigger compliant payments based on it. So, if you have data that can be made available and can be put through this system, we can create numerous campaigns very quickly based on the scenarios and events happening on your platforms.”
Key takeaways: In the swiftly evolving digital era, data fuels transformation, and automation serves as the vehicle. The synergy of automation and human ingenuity simplifies tasks, boosts efficiency, and fosters the exploration of knowledge and creativity. When data is available, processed rapidly, and automated with workflows that are easy to configure, you can maintain real-time focus on your brand and deliver a unique experience to your customers.