Monetize Your Network

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Eugene McCord, Head of Software Services

 

 

How often have you heard the phrase  "monetize your network"?

The meaning may seem obvious, but the "how" is where the fog rolls in.

Everyone "knows" the term monetize is the responsibility of sales and marketing. Then there is the billing system required to support the effort. Yet, if you were to roll out a new product to a retail market, the sales process would point out exactly what the capabilities of your new product are. So if that is the case, then why isn't it the responsibility of monetizing the network led by the Plant department?

What is the largest asset class on your books? For most Communications Services Providers (CSP), it's the network. And yet, do you know exactly where the plant is located and exactly what portions of it are capable of providing the desired service? For any given geographic area, do you know the gap between what the customers in that area are subscribed to and what is available to them?  Wouldn't it be great to know exactly what that gap is so you could build a marketing campaign specifically to fill that gap?   

Most CSP's know pieces of this information but it's usually not shared across all the functional areas of the company to effectively market your core product - your network's capabilities. This results in broad assumptions that end up costing the company money and reduced customer satisfaction when it gets down to actually delivering what is promised in a marketing campaign.  You know, those responses like "I'm sorry that service is not available in your area" or "I'm sorry, the distance to your location is too far to deliver the speed you are wanting." 

So, let's analyze what just happened here. You spent the money to send the communication to attract the customer. You paid the employees to talk to the customer and enter the information to deliver them service. You may have even sent an installer out for an installation. All for naught, because when it got right down to it, the customer couldn't be provided what they were promised and wanted to buy. The customer is dissatisfied and the company spent money it can't recover…just because of inaccurate plant records and/or the lack of tools to bring that very valuable information to the front of the marketing process.

An effective marketing campaign to monetize your network must start with accurate network and plant data to know exactly what your network is capable of and where it can be delivered. Otherwise, your sales and marketing effort is wasted.

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To inquire about improving your network or to find out more info contact Eugene McCord at 713.351.5111

Written by Eugene McCord at 09:00

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