Maximising Customer Value
Rapid progress in digital technologies and connectivity has expanded into more areas of society and business. Telecom and media operators are experiencing unprecedented growth in the volume and complexity of the data they collect and manage with data being generated by every interaction that involves a computer or digital device. This vast pool of data presents a huge opportunity for generating customer insight and improving customer experience. On top of this, consumers now expect more services for less and demand greater interactivity and control over the services they receive.
With priorities for organisations being customer acquisition, loyalty and retention, the exploitation of data through analytics should be at the heart these businesses’ core competencies. Establishing a SCV can enable operators to offer services that are personalised and optimised for each customer, delivering deeper, trusting and hence more profitable customer relationships.
Why is it an issue?
- As operator product sets diversify beyond triple and quad play into areas such as applications, media, content, advertising amongst others, it is vital that operators can deal with the customer as one across channels and maximise their opportunity to cross sell and up sell. The proliferation of product and service options and increased partnership and delivery channels means that achieving a SCV is both more critical and more difficult to achieve.
- Consumers also have a growing desire to communicate with an organisation across multiple, integrated channels but typically, operators suffer from a complex systems landscape and fragmented customer information across departmental silos and channels, often preventing them identifying, consolidating and securing customer information.
- Lack of controls and governance over sensitive personal data sources exposing organisations to legal, regulatory and compliance risks
- Establishing a solid framework that will ensure the quality of the data and identify the data owners for each information asset is vital for the accuracy of the insights driven by customer information
We work collaboratively with clients to understand the customer data landscape, build the vision and strategy for customer data, understand the benefits of a SCV, and plan to deliver them.
- Chart the customer data landscape: identify and record all systems, business units and third parties that collect, handle or store customer data
- Measure data quality: measure the suitability and quality of the data against requirements for a Unified Customer View and the desired insight to support current and future propositions
- Understand how customer data is managed: review the management of customer data to establish how security and privacy are controlled whilst assessing the governance framework effectiveness
- Develop a strategy around customer confidence in data.
The ‘free news’ or ‘free content’ impact of publishers placing their content online has resulted in a well documented drop in printed circulation revenue that is not being returned by online advertising. Many publishers are struggling to determine how to transform their business models to adapt to the new realities of print journalism. Reader Relationship Management offers a way to significantly improve revenue by better monetising a publications community of readers. A single view of readers across all interaction channels enables a deep understanding of customers with better, more relevant content creation and serving, better campaigning and better conversion through cross selling and up selling on targeted content and advertising.
Why is it an issue?
A publishers core business is editorial and advertising, they don’t often don’t have the data integration, contact permission design, record matching, modelling and reader analytics skills required to effectively implement a reader relationship management solution. Additionally as more and more multichannel marketing platforms become available, a publisher may lack the experience to pick the best technology to meet their marketing delivery needs.
Deloitte’s ERS team have the data management and customer analytics expertise to design and implement Reader Relationship Management solutions that integrate either real time or near real time customer and transaction data from sources such as subscriptions, fantasy sports, competitions, in paper and online shopping, dating and jobs. This solution enables the publisher to deliver targeted campaigns from a central trusted data source and monitor campaign outcomes. Benefits can include:
- Saving significant analyst time currently spent dealing with data quality and availability
- Considerable reduction in marketing costs
- Better revenue generation from list sales
- Improved conversation rates on campaigns
- Reduce suppression costs.
Broadcasters are rapidly moving away from mass semi anonymous audiences to one to one relationships with individuals and households. Technology such as internet on demand services, phone voting, online portals and podcasts provide more and more channels for viewers to interact with content and the broadcaster. They also represent an opportunity to capture more data about viewers than has previously been possible and use that data for revenue generation via targeted advertising and the sale of new services. In order to take advantage of this opportunity broadcasters need the capability to integrate viewer data from numerous sources and take action on the insight.
Why is it an issue?
It is necessary for broadcasters to begin implementing this capability now as they risk missing the revenue generation opportunity that customer analytics and direct marketing represent. They are also limiting their access and effectiveness in direct targeting linear TV advertising models or targeted pre roll and in roll adverts on video on demand services.
Deloitte work with the broadcaster to integrate all of their current captured viewer data into a single view of viewers, dealing with data quality, data matching and data integration issues. This is augmented with the viewers social media and behavioural profile to create a deep rich view of a viewer or viewing household. Analysing the data set real time enables targeted and sequenced marketing communication to be delivered to the viewer or household over any number of available channels such as linear broadcast, website, mobile app, telephone, YouTube and Facebook. This is proven to improve the impact of advertising on the audience, as well as increasing audience engagement thereby improving their subsequent value to advertisers.