In the present day, the telecom managers, who are presently functioning in a very tough and competitive landscape due to the deregulation, are finding that efficient mass market CRM is considered as a top most priority. It is believed that with the improvement in technology caused explosion of landline phone service, advancement in communication systems which propagated a strong market for both the land-based and wireless services.
As the marketing budgets are spread across multi millions, telecom service providers have started the use of top class electronic messaging and also serve the clients. Despite that, most of the telecom firms need to speed up their use of CRM.
The telecom sector in North America is considered as the leading sectors when the adoption of software applications for client management is spoken about. Most of the companies are investing in client management technology with the aim to pursue latest revenue streams like channel convergence and enhancing demand for customized services, according to analysts.
A mixed bag for CRM
Every player in the telecom industry functions at a different level in regard to the Internet presence such as offering a sales platform, client support, different marketing initiatives. In the most appropriate form, the sector is still little short in bagging full advantage of the CRM tools.
It has been found that the online sales activities of the telecom operators are quite low in comparison to the other varied consumer industries. The present level of the Internet presence is not enough to able to successfully sustain the clients’ requirements. It is believed that the wireless providers are making use of client analytics and predictive tools to root out competition.
Although, the telecom operators have spent considerable amount of money for upgrading facilities, it is not still clear that these investments with option for long term paybacks are considered as the right ones for meeting the client demand. In contrast, the investment in CRM tool like predictive analysis is quite modest but also generates payback within a time span of months.
As the potential for telecom services expand, the operators in wireline and wireless channels will be witnessing rising competition to continue their present clientele and also add new subscribers at the same time.
Among the varied advantages for making use of CRM is the capability to develop business opportunities via relationship management and account management, which helps in identifying the business prospects as well. The extra features available via CM are the price calculation techniques and also deal preparation material useful for the sales negotiations. It is believed that the analytical tools have the potential to offer optimum pricing to bag new clients.
But, the manner in which the telecom firms may use CRM is likely to undergo change. In place of opting for investing in big complex projects as done in the past years, telecom firms are slowly shifting to use of smaller and more aimed CRM tools meant for one or two particular tasks.
Opportunities available for CRM vendors
The CRM vendors should have high number of opportunity to bag from the extra investment bagged from the telecom industry. It is likely that the vendors would be in a position to capitalize on the increasing trend towards the CRM activities outsourcing done by the telecom operators.
With the aim to lower the net cost of client relationship activities, the telecom firms are moving to outsource the legacy systems legacy to the cheaper offshore centers.