The Importance of Enhancing Customer Experience for MVNO Success
With over a thousand MVNOs operational across the world, it would seem that everything is going well for them but it is not the case. As voice and data services get marginalized, MVNOs are entering into a new telecom universe where competition is at its apotheosis. Nowadays, coming up with cheaper or more attractive offerings doesn’t work its magic every time as there are many competitors ready to pull down their charges to match your price.
Customer Experience: The Equalizing Force
Just as traditional telecom services are losing their efficacy in swaying customer interest, customer experience alone has become the key differentiator between success and failure of telcos. MVNOs that understand its importance can still thrive in the current state of the industry. Good customer experience directly leads to better customer retention. Also, it provides the added advantage of word of mouth publicity as satisfied customers become promoters of your brand.
How MVNOs can Improve Customer Experience?
An MVNO mobile virtual network operator can definitely improve its revenue and add to its customer base by improving its services. However, there are other ways to leverage customer experience and create a new fan following. Below are some tried-and-tested methods to improve customers’ experience:
1. Self-service and customized plans: A major chunk of telecom customer base consists of millennials who crave complete control over the plans they will be using. This can be accomplished by utilizing a telecom billing software solution that comes with self-service and customized plan creation. In today’s world, providing control to the customer and letting them pick and choose exactly what they want is a sure shot way to win their trust.
2. Programs that reward customer loyalty: If certain customers have stayed with you through thick and thin, then it is only logical to reward them. An MVNO billing system that has analytics to identify such loyal customers and automatically provides discounts/freebies from time to time is essential for prolonging their association with you.
3. Transparency – Transparency in charging, rating and billing is essential for fostering subscribers’ interest in your services. A convergent charging system that charges all services via a centralized platform allows for the creation of a single invoice that reflects all charges. Also, with such a billing system it becomes easier for branded resellers and light MVNO operators to provide subscribers the access to customer service portals with all usage charges in a bifurcated form.
4. Personalization and localization – Segmenting customers and then delivering services according to their localized preference is an essential feature in modern-day MVNO operations. Segmentation allows you to target different regions effectively. For example, in far flung areas where internet data connectivity is not easy to deliver, you can emphasize on promoting your data services more than your voice services. Also, specialized plans for students, hospital employees and other niche-oriented users can work wonders in growing the interest of subscribers.
Conclusion
In the modern-day telecom world, MVNOs are facing new challenges that are emerging because of a rise in competition. We are at a juncture where MVNOs cannot sustain their revenues without differentiating their services from their peers. As things stand, enhancing customer experience provides the surest way to increase the reach of MVNO services. Running loyalty programs, providing transparency in billing and allowing for self-service can go a long way in improving customers’ experience. However, in order to do all this, you require a competent MVNO billing platform like Telgoo5.