Targeted Marketing
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Mass marketing is no longer effective as each customer’s requirements are unique and ever-changing. Thus, the telecom industry needs to identify prospective customers and tailor services accordingly.
Based on different service usage analyses, data analytics can help understand how people react to various products and services. A detailed analysis of purchase history, service preferences, billing data, location data, and customer feedback enables customized product offering to target the right audience at the right time.
Benefits for the company
Companies can develop personalized offers and advertising deals for customers, maintain competitive advantage, continue steady development, and improve conversion rates.
Feasability
High
Type of expertise/ AI domain
Machine Learning
Internal data required
Purchase History, Location, Billing
Recommendation Engines are the biggest example of targeted marketing. The customers are always attracted to better and cheaper services.