This week, we wanted to share our take on a recent article from K.C. Neel, which takes a look at the evolving role – and increased use of big data – to enhance the customer experience within the cable, satellite and telecommunications industries. In markets like the US, the customer experience is vital to cable and other telecommunications providers; with multiple competitive options, a bad CX can very easily translate to a lost customer.
In the piece, Neel discusses a newfound gravitation towards data-driven customer service, especially as consumers have become more accepting and comfortable with sharing their information with businesses.
Changing Consumer Mentality
As we all know, the topic of big data has historically raised concerns about privacy. However, as the author notes: the technology has been improving drastically, resulting in increased consumer comfort. Especially as service providers are becoming more adept at using this data to enhance customer care, improve operational efficiencies – and ultimately generate more revenue that can be re-invested into the customer experience.
This paradigm shift goes hand-in-hand with the findings from our report published last November, which found that a strong majority (67%) of American consumers are willing to share at least some element of their personal data in exchange for better service.
However, like we’ve discussed in the past, there are still considerable organizational challenges – like data silos between departments — that stand in the way of harnessing big data’s greatest potential.
Selling is a Privilege, Not a Right
In the article, Neel discusses the concept of “earning the right” to upsell and cross-sell customers, which ultimately comes from building trust and developing a strong understanding of their problems and motivations.
This is of course, where big data comes in. In combination with integrating a solution like BroadSoft CC-One that helps to deliver customer insights – and building an effective team that can take these insights and deliver top-notch customer service – it’s becoming increasingly attainable for businesses to offer the customized experience that consumers are growing to expect from the brands that they engage with everyday.