As each customer is unique, so each customer must see a different set of tiles with content that is selected on the basis of its relevance to the customer in question. When this happens, the result, far removed from the traditional generic ‘one-size-fits-all’ message on an invoice, is a unique and personalized statement built for the individual. 

How to realize the CVS

To implement a CVS approach and create statements that are unique for each customer, 5elcos have to invest in enabling technology. This technology must first be able to mine the telco’s data to capture key statistics using agreed-upon metrics that enable the creation and management of an online, 360-degree customer profile. By combining traditional status, usage and demographic registration data that CSPs hold in their BSS environments—along with an indication of customer interests and preferences derived via third-party APIs as well as any legacy loyalty, engagement and offer programs—building an enriched 360-degree customer profile becomes possible.

The enriched customer profile is the foundation stone of a CVS. From that, the CSP can look to design and then configure several behavioral segments. It can set up a catalog containing its products and services and create an offer portfolio populated by a variety of available gifts, benefits and value-enforcing messages. These can be aligned using eligibility settings to provide a multitude of the aforementioned unique Value Statement tiles.

Depending on the personalization granularity that the CSP desires, it is possible to create as many as several hundred different tiles, each with its own settings, and each applicable to customers based on their value, tenure, location, device, usage and other preferences.

These tiles lie at the heart of generating the Value Statement that each individual customer sees. By adding and deploying a real-time offer manager using Machine Learning algorithms to rank-order all configured tiles related to a particular objective category, the CSP can identify the best matching tile for each visual screen position for every customer based on metrics such as:

• Available offers
• Propensity of the Customer to Accept
• Relevance to the Customers Interests
• Uplift Value Generated from Acceptance
• …and combinations of each of the above

Once a Value Statement is sent out in emails or viewed within the CSP’s mobile app or self-care portal, the CVS can track the resulting engagement of customers and also the business KPIs that are affected by it.

Summarizing the benefits of the CVS

CSPs today can use the Customer Value Statement use case to meet a multitude of business objectives. These include:

• Automated, intelligent decisioning
  
• Increased Net Promoter Score
• Faster new product awareness
  
• Improved individual customer interaction
• More effective cross-selling and upselling
  
• Increased revenue
• Better offer uptake
• Improved retention

In my experience, the Value Statement is a unique way of communicating with the customer and increasing his or her value perception. It is a tool that cuts through marketing noise and gives the telco 'real estate' to communicate unique benefits as well as relevant and personalized upsell offers in a consolidated manner. It is the root of both improved NPS and, ultimately, a strengthened position in a competitive market.