Failure to take action now will limit long-term growth opportunities for TMT providers. Here are three critical steps you should take to reinvigorate your customer relationships:
1. Simplify your proposition
Bundles have been a mainstay of the market for many years, but complex value propositions and opaque pricing translate into ever more confusion for the customer. Simplifying your value proposition at all stages of the customer journey is not ‘nice to have’, it is central to your long-term relevance as a service provider, particularly as new forms of connectivity and content make their presence felt in the home.
2. Communicate with clarity
The research indicates that the communications between service providers and their customers remains challenging. Raising awareness of new services such as 5G while making the right adjustments to existing packages requires care and attention. Ultimately, a more holistic dialogue with customers — one that is sensitized to a world where too much screen time and too little data protection are top of mind — will provide the kind of reassurance they need.
3. Convert apathy into engagement
Service providers may believe consumer apathy is acceptable – after all, an inert customer is one that is less likely to leave you. However, this kind of customer relationship can do more harm than good. Engaged customers are more likely to help point the way to new demand scenarios and ultimately spend more on a better experience. The need to reignite your customer relationships has never been more important.