Telecommunications Companies: Looking for a Competitive Edge?
In the highly competitive telecommunications industry, every little advantage counts. In order for your company to stand out, you need to offer something different.
The TruCash rewards program can give you that “something”, by helping telecommunications companies react to fast-paced market changes and alleviate costs, while still delivering meaningful rewards that drive results. TruCash replaces traditional and outdated incentives/rewards programs and provides a multitude of valuable performance and sales-based incentives to sales reps, new or existing customers, corporate installers, and more.
How can the TruCash rewards program improve a telecommunications company’s sales?
Market Flexibility & Control
Some telecommunications companies offer closed-loop gift cards as a sign-up incentive. The problem with this type of program is that the company can’t react to fast-paced market changes. If a competitor comes out with a promotion that your company wants to match or beat, you would be unable to react in a timely and effective fashion, resulting in a potential loss of sales.
The TruCash program enables a company to react instantly to market changes, increased competition, and changing consumer demands. You can manage card orders using the backend portal, with specified amount loaded onto the cards, as part of a new or existing reward. All aspects of the program can be managed and tracked in real-time by store managers or the corporate head office, as desired.
Due to the reloadable functionality of the card, company reps can allocate more funds to a customer if they increase their service level or purchase a new product. The funds on the cards can be used anywhere Visa® or Mastercard® are accepted, at over 30 million merchants worldwide. The cards can also be used as an on-going incentive and communication tool.
Using tracking and feedback, managers can tailor the TruCash program to what is most effective for them and their business. The backend application allows managers to launch new incentive schemes and spiffs with ease, regardless of the number of recipients. While typical programs need to be revamped, reinvented, and rethought, this program allows for complete control from a company standpoint as you can issue rewards in real-time, based on a variety of criteria. Every aspect of the program can be managed and tailored according to results, providing you with a key advantage over the competition.
Most other card-based rewards programs give each employee a gift card every time they make a sale or hit a particular quota. The problem with this kind of program is that your company then has to budget for the cards on a monthly basis by estimating the performance of your sales representatives. This method of incentivizing reps can be very costly, as it can exhaust a budget without being able to compensate for overages. As well, gift cards can be costly, time-consuming, and generally unsatisfactory for sales reps. Not only do their gift cards often take months to arrive, but then the reps need to try to manage a stack of cards, rather than simply having additional funds added to their existing card.
With TruCash cards, your sales and distribution representatives can receive instant rewards directly on their cards for spot incentives, performance, recognition, and more. Once earned, the funds can be used to make purchases in-store and online at millions of locations worldwide or withdrawn from an ATM. The company can also control the amount of incentives that are allocated for each product sold, creating a more involved and more engaging program.
Customers want to feel that they are valued, and offering a small discount off their bill feels insignificant and impersonal. On the other hand, a customized TruCash incentive or loyalty card allows for continuous brand exposure, keeping your customers happy and less likely to move to a competitor. Customized cards create an invaluable marketing opportunity, allowing companies to showcase their brand/message, and offering a more personalized experience.
Offering the TruCash card with a new package bundle can increase conversion and provide your customers with added benefits. In the telecommunications industry, upgrades and renewals are a big part of the bottom line, and customers who are gifted with a prepaid card during a contract renewal are twice as likely to remain customers, and 60 percent of customers prefer prepaid over any kind of rewards program.
With a prepaid card, customers can shop where they want and buy what they want. Cardholders are also able to view and manage their accounts online 24/7 using their personal e-wallet, the truTap mobile app, or via our Customer Service support centre. The card’s online management tools enable the cardholder to manage everything from card balances and transfers to transaction history and points status.
Want to learn how to set up a prepaid program for your telecommunications business? Contact us today. DCR offers you years of experience and expertise in prepaid card programs — from the launching stage all the way through fulfillment and program management.
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