Developing your personalization strategy for the Telecom Industry

There is a growing need within the telecoms industry for businesses to nurture and form relationships with customers in order to reduce high churn rates - We outline why personalization is the solution.

The telecom industry is rapidly changing – higher market saturation means it is harder to attract and retain customers than it has ever been.

According to a study by Accenture, a lack of overall trust cost $759 billion to telecom companies in the US alone last year – with 41% of consumers studied switching their providers.

The process of enticing users to switch is becoming more frequent. Therefore, there is a need in the telecom industry to refocus on giving the best possible customer service to retain and nurture your customers. We look at how those in the telecom industry can start to develop simple, but effective, personalization strategies.

 

The power of video.

Historically, telecom businesses may have a comparatively large advertising and marketing budget, yet be unsure how and where to use it.

If we compare the mediums, a video ad is far more likely to engage a viewer for longer (15-30 seconds) than display ads (2-4 seconds). It is a way to give a personal, more engaging insight into a business (source).

In the past, telecommunications businesses used video primarily as a means to build brand awareness. Yet implementing an effective personalization strategy can see video transformed from being a simple brand building tool. By reaching out at key customer touchpoints, video can be implemented to increase conversions, revenue, customer support, upselling – all while continuing to deliver a brand impact too.

 

Start with monitoring and targeting.

No matter the industry, every personalized video strategy is going to start with effective monitoring and targeting.

  1. Firstly, on-site visitor behavior should be tracked and monitored, then coupled with profile and historical data. This will provide you with an effective target group and make sure that the right audience is reached.
  2. Secondly, it’s important to tailor your content. You have established your audiences, but now it’s critical to give each individual viewer a personal experience. Instead of pushing the same content to all, personalized video means you tailor your story on a one-to-one basis. Each of these narratives can vary based on any number of first- and second-party data elements gathered about the individual. 
  3. Now you can begin to form an understanding of the impact of your strategy. This can be based on factors like visits + clicks, conversions, engagement before + after ad exposure and ROAS. Based on this, your outreach can be optimized to improve its’ impact over time.

 

Drive conversions and increase customer loyalty.

video data

Using your target audience’s online activities and behaviors to leverage intelligent, personalized video ads creates optimized results.
The messages you are conveying to viewers are highly relevant. This means you know you will more effectively drive your conversions and build brand awareness.

Telecom businesses can reach out with personalized content which promotes different plans, devices, messages or upgrades. This will be  based on info like current device, provider, online behavior, etc.

The user is going to receive the message most likely to engage them and achieve the desired outcome.

 

The take away message?

There is a range of metrics at your disposal to measure and evaluate the success of online video ad performance. At the forefront of your strategy should be the fact that  personalized video campaigns should deliver a strong business impact and ensure revenue increase.

If you are an MSO or wireless carrier, by taking the step to invest in personalized videos which leverage real-time customer insights, you can build relationships and show customers your real value. Get more info via the link below.

Get more information.

Contact us now and learn more about how you can engage your customers through personalized and individual videos.