Reduce Subscriber Churn Risks with Support Solutions for MVNO

Customer experience has gained a strategic importance in the telecom world and service providers are increasing investing in innovative solutions. Virtual network operators already enjoy the benefits of customer-oriented services, yet they can further improve brand value with the right support solutions for MVNO

Natural Benefits for MVNOs

In the telecom space, virtual operators already enjoy a better position than the regular ones. This is because they target a specific group of consumers only and are already delivering customer-oriented solutions for the niche market. Though already a customer focused, several MVNOs can still improve their performance by delivering better support services. An efficient customer service allows the better understanding of end users, their preferences, and needs, and delivers them with the right solutions.

The Need of MVNO Solutions

MVNOs grew from a handful of operators to thousands in a matter of years. The global market for MVNOs is predicted to reach a value of $73 billion by 2020, according to an analysis by Grand View Research. However, most of the MVNOs won’t be able to grab this opportunity due to outdated technology and inefficient support systems.

Many virtual operators still rely on their website as the primary customer engagement tool. Thus, they miss on various opportunities to improve customer experience, manage churn, and promote their wireless communication services. All they need is an access to innovative support solutions for MVNO that empower support agents to deliver customer-oriented support services. With proper support, operators can easily streamline their services and unlock new revenue

Optimize Customer Experience to Manage Churn

Irrespective of the products or offers delivered, churn rate is going to be high if the customer experience is poor. Though NPS-like metrics have an impact on the intent of a customer to subscribe to a telecom operator, yet some highly satisfied customers do switch to other brands. The quality of customer care services delivered is another influential factor in maintaining the subscriber lifecycle.
Thus, a poor support experience can increase the risks of customer churn and is the last thing an operator would like to deliver. However, when done right, the same customer support can lead to lucrative rewards. This is where MVNOs can make the use of support solutions like self care and others to create a presence for their brand.

Self Care Solutions for MVNOs

According to a Research Director at Analysis Mason, personalized self service solutions have evolved from customer self-care. Where self-care solutions have the potential to reduce support costs of contact centers by around 20%, delivering an effective self service by operators adds 18% to the revenue per user.

Apart from saving costs and increasing revenue, self care solutions offer much more benefits to communication service providers, in terms of customer loyalty & branding.

In order to deliver a quality self-service solution, virtual operators must:

• Optimize user experience to the smartphones and devices used by the subscribers.
• Deliver personalized offers, which can be built on the basis of data collected by support agents and self care app on the user device. You can measure subscribers’ preferences, and create personalized offers to improve sales and hence, business revenue.
• Prepare for the subscriber willing to move between channels. For instance, if a subscriber wants to connect to an agent for an interesting offer or for a problem experienced, the self-care app should offer easy access to the representative.

Thus, a proper approach to customer self service, integrated with other support options can help subscribers boost loyalty and gain more revenue. Improving customer experience will lead to a win-win situation for both MVNOs and subscribers, minimizing churn risks.