IT Succors Customer Retention and Customer Life cycle Management Processes

an existing service provider and opt for another one, without having to change the mobile number, strategic paradigm has to undergo a shift for telcos. The focus should see a change from customer acquisition to customer lifecycle and experience management. Today there is a need for telcos to overhaul their approach towards customers and reach out to them proactively to prevent churn and increase loyalty. For all this, operators would be heavily dependent on their IT capabilities. Traditionally, IT has proved to be a backbone for initiatives implemented by telcos for improving customer experience and managing their lifecycle. Some of these initiatives implemented by telcos range from data analytics, evolved CRM application, and need based product offerings, innovative billing solutions, advanced call centre setups, loyalty programs, digital acquisition, mobile money etc. With this, telcos have been targeting to manage brand perception, customer relation/retention, leads’ conversion, and superior customer experience. All these initiatives are aimed at fulfilling consumers ever growing expectations for the personalized services, and memorable experience. To conclude, telcos will have to keep optimizing the customer experience in order to enhance the stickiness so that they stay on our network perpetually. They will have to keep coming up with innovative customer-centric strategies that can create differentiation in hyper competitive telecom market which not only helps continually raise the customer experience bar but also ensure adequate monetization for the company.