Last time, we discussed how the practice of CVM allows service providers to accurately profile its customers and to identify new opportunities to generate value. Despite often having such information available, mobile service providers have typically not capitalised on CVM techniques and have therefore lagged behind peers in other sectors. Worse, mobile service providers have a clear advantage in that they offer real-time services, so there is huge untapped potential to leverage CVM across all dimensions which is missing to many – and often to some of their OTT competitors. In short, mobile service providers may actually have a richer set of data regarding their customers than their competitors.
Customer Value Maximisation emerged some years ago as an approach to help the banking industry recover from the financial crisis of 2008/9 and as an evolution to the practice of customer lifecycle or customer relationship management. The aim of CVM is to derive as much value from the existing customer base as possible, because it’s believed that this can deliver the greatest results in the shortest possible time. Since then, CVM has been enthusiastically adopted in many sectors – but not, so far, to any great extent in the mobile industry.
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