Adapting Artificial Intelligence for small communications into big revenues for global businesses
Facebook, Apple, Google and Amazon these are only a portion of the hyper-sized associations entering the centre telecom showcase – competing for a spot in the more extensive environment. Numerous CSPs are not withstanding pondering what they have to do to keep up or regardless of whether they will be uprooted.
The telecom business is under blockade. With new players entering and changing the amusement on apparently regular routine, telecom administrators are being compelled to swing to new, troublesome plans of action to remain applicable in the present society.
This competition is even broader in developing markets, whereby app downloads and utilisations are achieving high records. For example, four of the top five countries by app download are in emerging markets. App downloads in India grew 215% in 2017, while they dropped 5% in the US in the similar era. Consumers in emerging markets are likewise utilising more apps, and overall invest more energy in apps regular than customers in created markets.
All of this leads to more data. For CSPs, more data and more insight should mean more opportunities. The key for CSPs to realise this potential is to harness their secret weapon - their relationship with their subscribers. CSPs know their customers better than anyone – what services they use most; the channels they prefer to receive information, and how to drive more value for them every day. They must leverage that knowledge to deliver a better experience to their existing subscriber-base – what they want when they want it and how they want to receive such content.
CSPs control the information that gives cell phones, administrations and - nearly everything - access to substance and availability. The test is that this information can be cut, moved and dissected in such a large number of ways that it's difficult to make sense of what information to center around and when – making it simple to miss out on potential income. In any case, all information can be important if saddled in the correct way.
Customer Service Providers (CSPs) helps group unique subscriber intelligence
Few competitors will approach such immense, longstanding and across the board data pools as CSPs, and restrain those pools to give an interesting and customized experience is critical to remain ahead of the opposition.
For subscribers on longer-term contracts, CSPs need to target them with substance and administrations that urge them to utilize their high-speed data services. Along these lines, when they are running low on data they may be offered a data pack custom-made to their use. On the other hand, they may redesign their account on a long-term basis.
Same as for pre-paid subscribers that are running low on credit, CSPs can offer motivators to top up at the required minute. For instance, when a consumer has low balance but tries to browse online, the CSP can boost that customer to top up by saying something like “you’re going to run out of data soon, if you top up now then you will get free data for the rest of the day”.
Right content through the right channel
With regards to real personalisation, it’s not just ensuring the content is modified to the subscriber, yet in addition how it is conveyed. For instance, a few endorsers want to be called by a human specialist, while others may like to get push-notifications straightforwardly on their gadget.
And it’s important to ensure that the offer is displayed appropriately for the channel. If it’s coming across a mobile phone, it needs to be presented as a clear “yes or no” option so that users can easily understand and accept, such as “would you like to top?” This is especially important in developing economies where there are still significant volumes of people using feature phones, and therefore don’t have access to smart apps. Easing the ‘top up’ process for those individuals will drive increased revenue and boost customer loyalty.
With the advancements in AI managing all these components – the data, channel, the timing, and the offer – can be overpowering, but are transforming the opportunity for subscriber engagement and ultimately, monetisation opportunities for CSPs. There are new platforms and solutions that make it easier to analyse subscriber data and deliver the most relevant and valuable services – and those services can translate into millions in increased revenue, along with better brand differentiation and increased loyalty. So when it comes to data, sweating the small stuff can pay big dividends.
While the telecom industry is facing increasing pressure on traditional revenue sources from competitors, regulation and digital disruptors, CSPs are now finding themselves at the centre of the connected ecosystem that will increasingly be at the core of all the products and services we use. With data usage on the rise from emerging markets – as well as increasing opportunities to ‘upsell’ to all users across the globe – the telecom industry is on the nib of greater and more diverse opportunities than it has ever seen before. It just needs the right tools to truly seize this moment.
Sales Director – India, SAARC & SEA Communication Service Provider, Nuance Communications