PERSONALIZED EXPERIENCES remain low among telecom and media products even as Filipino consumers are more likely to spend on these services, a survey found.
A survey released by Coleman Parks Research commissioned by media software services provider Amdocs found that 87% of Filipino consumers are more likely to increase spending on highly personalized online shopping and payment experiences.
As many as 74% would switch providers for a customer experience “that adapts to their changing needs,” according to a press release on Friday.
The research firm collected responses from 600 customers and 100 chief marketing officers (CMOs) in the Philippines from February to May.
The company found that 91% of Philippine CMOs recognize that products and services tailored to individual needs would positively impact consumer retention, but only 20% of them deliver “holistic” personalized experiences.
Almost 80% said communications service providers are not providing such personalized experiences in sales, marketing, and customer care.
Technology is the main barrier to this shift, with 77% of executives surveyed citing this as a concern, while 75% said senior stakeholder resistance to change and a belief that there is no need to further invest in personalization hinder these efforts. Meanwhile, 40% said their budget is the main barrier.
“Today’s digital consumers keep evolving their benchmark experiences against the best apps and service experiences. All apps are a click away, so consumers do not distinguish between industries — the last best app you used sets your expectation benchmark for the next one,” Amdocs Chief Marketing Officer Gil Rosen said.
“Communications service providers do not compete within their category; they compete against all apps and amazing experiences being provided every day by new and existing players. Even dating and gaming apps serve as a benchmark as well as the obvious suspects from the online shopping, banks or any other incumbent service providers — it creates the need for service providers to constantly strive to match those experiences.”
Although Filipino consumers want data-driven personalized experiences, 74% want their communications service providers to be clear about personal data collection and use. Almost half believe that personalized interactions were created to mine data from them.
“Communication service providers must take advantage of the fact that consumers are willing to share their data to get an advanced personalized experience tailored to their expectations. However, before this happens, they must improve their quality of service and instill trust in their customers about how their data will be used, and break down internal silos between marketing, sales, and customer care,” Coleman Parkes Director Stephen Saw said. — Jenina P. Ibañez
