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Telcos
Must "Reach Out and Touch" Customers Once a Month
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BOONTON, NJ. November 12, 1997:
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Telcos are spending over $10 billion this year to retain market share by upgrading their customer care and billing operations, says a new market report from
Insight Research. Insight's analysis reveals that some level of customer satisfaction must be met on a monthly basis, or else customers will be lost to the competition.
According to Insight's Carrier Customer Services and Operations Support Systems: Telecom Re-engineering for Global Competition, competing telecom offers are so abundant, and so similar in price and scope, that customer care has become a key differentiator for consumers. And since the majority of a carrier's customers are not under contract, the carrier must essentially "win back" each customer every month in order to reduce overall churn rates.
"Telco investment in customer care and billing over the next five years will grow at nearly twice the rate of carrier revenue," says Robert Rosenberg, president of
Insight. "That faster growth rate stems from an increased focus on small-to-medium businesses and high-value residential customers--folks who spend $300 to $500 per month, but aren't secured with an annual contract. They're free to roam, and that's a scary prospect for the
telcos," Rosenberg continues. "Superior customer service and accurate billing is the best way to ensure these customers stay happy--and loyal."
According to Insight, international carrier spending on customer care and billing will grow at the rate of 13.6% from 1997 to 2002, topping $19 billion by the end of the forecast period. Professional services will be the fastest growing portion of customer care; each carrier will adopt unique customer strategies and thus require outside expertise in order to integrate multiple vendor products and customize solutions.
Further insights into the state of customer care, including telco case studies detailing acquisition, retention, and win back strategies, are published in Carrier Customer Services and Operations Support Systems: Telecom Re-engineering for Global Competition.
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Operations Support Systems 2002-2007
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Wireless
Operation Support Systems 2002-2007
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Operations
Support Systems (OSS) 2000-2005
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Grid
Computing
2003-2008
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Private
Line Services
2003-2008
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Self
Provisioning Enterprises and OSSes: Customer Network Management 2000-2005
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Donna
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at Insight Research
973-541-9600
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Telecom
Market
Research,
