Key drivers for telecoms businesses
Part of our series with 12aheadon 16 May, 2014 at 04:05
Customer loyalty is the main driver for communications providers re-engineering for social media, according to a report.
The Telesperience Report by Lithium Technologies has investigated the impact that social media will have on communications service providers (CSPs) businesses, such as telcos. The report has revealed that in some markets CSPs have already taken major steps in socially re-engineering themselves and this has already delivered significant business change and ROI.
The report has revealed that by infusing social media across the business, marketers believe they can provide a better customer experience and yet just 5% believe that they provide an excellent customer experience at present.
It also found that telcos that already have mature social media integration had reduced support costs significantly as customers shared ideas and supported each other, leading to a decrease in call centre spend that was twice the global average in 2012.
According to the report North America is in some categories already reaching social media maturity, with Europe and particularly APAC lagging behind.
Overall most telecoms firms have plans to increase investment in more mature and complex applications of social media by 2015, increasing the number of CSPs that are socially re-engineered. According to the research, 44% of telecoms have social support for customers today and will increase to 64% by 2015. Similarly, 27% of telecoms enlist social customers to give purchase advice to others and by 2015 some 59% will be doing this.
One area which was relatively low in adoption for telcos in terms of social business change was using social media to source ideas from customers. The research found 63% had used forums to uncover product ideas but 29% said they didn’t solicit product ideas. A smaller group of respondents (22%) said they thought crowd sourced information was a driver of competitive advantage.
Globally 15% said customers had suggested ideas to market and 12% had driven revenues from suggested ideas, which increased to 23% for both in Europe and decreased to 9% in North America.
- Key stats
- 93% of telecoms now connect with customers through public social networks
- 95% plan to maintain or increase social media spend this year