Telecoms Companies Turn To VR To Build Stronger Relationships

1 min read Virtual Reality
Telecoms companies are set to invest in virtual reality, chatbots and purpose-built mobile apps in an effort to build stronger relationships with customers, according to new research from Oracle.

The research report, Can Virtual Experiences Replace Reality?, found that one third (33 percent) of marketing and sales leaders in the telecoms industry are losing touch with customers because their interactions are not always relevant.

Despite having access to large volumes of rich customer data, telecoms companies are failing to integrate, analyze and exploit this information to deliver personalized experiences. Only one third (37 percent) examine customer data regularly, and almost two thirds (61%) don’t even include social or CRM data in their customer analytics.

In order to better connect with customers and differentiate themselves in a market that is increasingly driven by price or handset packages, telecoms companies are turning to VR, AI and direct-to-consumer apps.

•79 percent will be using virtual reality to deliver CX by 2020, and 35 percent have already implemented the technology to some degree

•80 percent will be using chatbots by 2020, with 34 percent already using them to manage specific service requests and customer queries

•Telco-owned mobile apps will become ubiquitous, with 84 percent of respondents planning to use these to engage with customers by 2020

“While many telecoms operators may be concerned about the impact that the growth of VR will have on bandwidth and the core service they provide to customers, our research shows that many are already looking at how they can use the technology themselves to build closer relationships with customers,” said Mark de Groot, ‎Marketing Director EMEA - Digital Customer Experience at Oracle.

“Historically, telcos’ interactions with customers have been limited to billing and service issues, but recent years have seen an explosion in value-add services like priority access to events or streaming subscription bundles in an effort to boost loyalty. Telecoms companies have woken up to the reality that it’s no longer enough to offer reliable voice, text and data services, and offering engaging experiences on new platforms can give them the edge over competitors.”