The new age customer is not just demanding, he is more willing to churn. So, where does this leave telecom service providers in an era of competition where customer experience is the new battlefield for both differentiation and loyalty.
Let’s begin with how CX has evolved
Today customer experience has evolved into Digital Customer Experience. And, for TSPs billing is a major aspect of customer experience.
Fitting the bill
So, how does CX fit the bill? Or the billing experience!
The bill has the ability to give competitive advantage to TSPs with a more customer-centric approach.
To simply put, “While the customer is always right, it is also prudent to never underestimate the power of the demanding customer.”
If you want to improve the billing experience, you need a strategy that’s as savvy as today’s customers and also offer a billing experience from the customer perspective. An unpleasant billing experience often results in unhappy customer experience, complaints and customer churn. Telecom companies that focus on improving the billing experience can differentiate and gain the competitive edge.
What makes an unpleasant billing experience?
Typically, the two main reasons that erode customer-TSP relationship causing annoyance and discontent are
- Bills that are high and unexpected (mostly known as bill shock) and
- Charges that aren’t clear
When customers feel their bills are irrelevant or they have been wrongly charged, it inevitably results in more complaint resolution costs, call centre operational costs, and in most cases lead to customer churn. By paying better attention to how they present the bills to their customers, telecom service providers can easily transform the billing experience from a pain point to an engagement point.
Billing for better and positive customer experience
Let’s talk about the millenials, or the new-age customers and how they prefer their communications. Obviously, they use mostly visual communication styles including emoticons, memes, snaps, reels and short videos. The connected customer is visually demanding, they prefer communications in a SEE mode than READ mode.
Improved billing and better CX
How can TSPs ensure a better billing experience?
- Firstly, telecom service providers should look at how their bill layout is made more appealing, relevant and valuable to the customer. By the use of interactive graphics and videos that run the customer through his bill, that explain his charges clearly and also visually aid for a better customer experience.
- The shift in consumer preferences has prompted many telecom service providers to communicate with customers via interactive videos. The videos communicate charges, encourage prompt timely payments, thus transforming the entire billing experience into a revenue generating tool.
- The use of Self-service portals- Your tech savvy consumer is not new to self-service. It is with utmost ease he uses apps to navigate in the digital world. They are independent and prefer trying new things as answers. It is most rare to expect them reach out to customer care representatives to solve their queries. So how do we address their concerns?
- With self-help strategy and from a billing perspective this means that more information should be navigable, drillable and discoverable.
- Improve customer interactions by easy query resolutions, and highlighting appropriate and new services through personalized, and contextual messages
- The customer understands costs and usage details through beautifully rendered, easily understood graphs, and alerts.
What personalized interactive videos do for your business?
Interactive, personalized videos enable TSPs provide better service to their customers. Interactive videos lead to improved billing, which means fewer calls to customer support, reduced operational costs, less customer churn and improved loyalty.
Social media, virtual assistants and IoT, these are just a few things that have redefined this space of customer engagement. On an average every adult spends an hour daily on watching digital videos. And, businesses have understood the benefits of using online interactive personalized videos especially when it is about improve customer engagement and deliver a better customer experience.
Here are a few notable benefits:
- Enhanced Customer Satisfaction with personalization that is easier
- Lowered customer care costs with self-service portals
- Gain insights into customer behavior lets you figure out the preferences of your customers
- Interactive videos empower internal teams as they help generate leads and conversions
- Personalized interactive videos integrated with multi-channel communication strategy helps streamline processes across your company
- Helps in improved customer engagement with video bills and statements that are easy to understand
Kickstart your Digital Transformation Journey with UniServe™ NXT
To conclude, increasing customer demands has made it vital for TSPs to improve operational efficiency and differentiate their services, with a dynamic and visual customer engagement & communication strategy.
The need for TSPs to transform their communication from static to interactive, self-service driven two way interaction with their customers is essential to organization success. With our Digital Customer Engagement solution built on UniServe™ NXT, we help TSPs to differentiate their services and stay ahead!0