How CSPs Leverage the KYC Opportunity and Current Dealer-system Shortcomings to Differentiate and Drive Sales Revenues.

In the last two blogs of this 3-part series, we looked at the importance of dealers to expand reach and drive engagement with subscribers, influence behavior and build loyalty. We also looked at the role of technology, tools and solutions enabling CSPs to leverage current Know Your Customer (KYC) opportunities. Finally, we will take a closer look here at how exactly KYC requirements present themselves as opportunities.

KYC presents a significant opportunity to engage with customers. This opportunity is frequently completely missed as the customer walks out of the store with his new SIM. Having inbuilt functionality for dealers to view plan options in real-time and match these to one that best meets the subscriber's requirements can significantly improve the customer experience while improving revenues for the CSP. More so, if it also presents a complete set of the company's offers for existing customers. These capabilities are key accelerators of post-sales dealer up-sell and cross-sell revenues too as subscriber return for top-ups and recharges.

A dealer management system with a built in customer support portal helps the dealer, who is likely very knowledgeable with the CSP's products and services, become a trusted partner for the subscriber by also knowing about the subscriber's individual issues and his ability to help resolve these quickly. This is an easy and efficient way for CSPs to improve customer loyalty and the brand's NPS scores leveraging its existing network of dealers.

Finally, an automated electronic system for sales ensures that dealer commissions for sales are accurate, timely and insightful. Dealer can use available reports to view and manage their finances as well as staff performance. Carrier-dealer mistrust is, in fact, quite common when CSPs are unable to credit dealers for the sale of SIMs related to an activation error or other reconciliation error. This mistrust, in turn, is often the start of the dealer's journey to the CSP's competitors.

Dealers and subscribers are looking for more and that's a good thing when you look at it in the right way. Is this a challenge? Yes. Is it an opportunity? Absolutely! Just look at the challenges that existed in the market that helped make these giants successful.

YouTube creatively took the high cost of video storage and the pain of editing, uploading and sharing away for users. Zillow helped buyers and sellers know what they needed to without having to dig through publicly available information at their county office location or one across the country. Glassdoor gave job-seekers a way to peek into employers' cubicles and HR salary records while it gave employees an opportunity to attract talent or, when needed, a window to vent through!

I don't need to tell you about Facebook - your quest for social connections helped them make your social security number public! Thankfully, that's where Symantec's $2.3 billion purchase of LifeLock comes in!

In summary, it is clear that CSPs can reap significant benefits of expanded reach; better SIM distribution logistics; staff, sales and inventory management; and operations efficiency with a modern mobile eSIM and SIM sales solution for dealers. Dealer solutions that go beyond basic sales requirements, such as mandatory KYC capabilities are clear choices of the discerning CSP. Some of these dealer-specific capabilities include functionality that drives positive dealer engagement and desirable subscriber behavior to harness revenues from improvements across a broad range of digital engagement avenues spanning distribution, registration, validation, activation, number selection, staff management, customer support and data-driven sales. For more information, contact Evolving.

KYC , Dealer Management , BSS , Carrier , CSP , Communication Service Provider , Compliance

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