Telstra Corporation Limited, popularly known as Telstra, founded in 1975 is one of the biggest telecommunications companies with its headquarters situated in Melbourne, Australia. Before this, the Australian telecommunications services were under the control of Postmaster-General’s Department (PMG), which was founded in 1901. In 1975, few commissions were formed to replace PMG and later on the responsibility of the postal services was transferred to the Australian Postal Commission.
This was reconstituted as Australian Telecommunication Corporation. The Overseas Telecommunications Commission which was a separate government body established in 1946, merged with the Australian Telecommunications Corporation and became a short-term company, AOTC. The AOTC was further renamed to Telstra Corporation Limited in 1993. The company features in providing the best internet and fixed line network services, operates pay television, mobile and other products and services.
Identifying the customer segments
The company is well known for its high-quality products all over the country. It delivers telecommunication services in rural and urban Australia. It tries its best to reach the customers through its primary and secondary sources. According to surveys, the company has varied customer segments based on their tastes, needs and values. The social media also reveals that the company has developed strong strategies to make a good hold in the market. The first customer segment is the “Individual customer”, and second are the “Government Organizations”. They aim is identifying the problem of their customer and solving it (Ray Gehani, 2013).
Their customer satisfaction from 6.8 in 2009 had reached to 7.3 in 2012. Their telecommunication industry ombudsman complaints [TIO] have also seen a downfall from 3.1 to 1.9 in the previous years. Also, they have a 24x 7 support on twitter, service facility on Facebook and a new online group called CROWD SUPPORT, where customers help customers.
The data clearly show that the company is working at its best to satisfy its customers. Aiming to be customer friendly, the company has introduced a simple bill format and my account summaries, which has lowered the frequency of call at the contact centers and all the basic information is communicated to the customer via email (Zhu and Li, 2014).
As far as relation between Telstra and government organizations are concerned, the company has taken measures in making the country globally digital in all these years which has promoted economic development, bringing high revenue to the country. Though it has also given rise to severe threats, and online hacking etc., still digitalization is like a survival strategy for the government (Tay, 2003).
It has helped them in collecting and analyzing data more easily than before. Australia has been ranked second in the UN ranking for the high-quality E-government.
Telstra and the Voice of Customer
Telstra has developed a long-term strong relationship with its customers in Australia and in other 20 countries accounting to 16 million people through its MTE program which runs on 75 strategic initiatives. More than 66% people in the age group of 18-25 are using their best home broadband service and are fully satisfied with it. The survey on voice of the customer on social media and other online sites clearly reveals that the customers are satisfied with the usage and durability of the products offered by the company.
More than 50% of the people say that the products are quite compatible with the user. 33 % of the people feel that the products are real worth for money. But still, the company is facing issues related to customer experience. For this, a Customer Differentiation & Centralized Data strategy can be built in which the company will interact with the customer, identify its tastes and basic needs and customize the product as far as possible (Blitz, 2017).
There will be separate zones built, which will be approachable to the customer via customer services. The customer will put his problems in front of the representatives, and depending upon what the problem is, will be diverted to various departments. A centralized data feedback system will store all complaints registered with the company and will be accessible to all employees of the company (Kim and Jin, 2015).
The following strategy can also be explained in the form of an alignment diagram (Bassi, Pagnozzi and Piccolo, 2015).
Alignment diagram on Segment 1: Individual Customer
Alignment diagram on Segment 2: Government Organisation
CEM Strategy
The most effective and successful CEM strategy for any company is to build an emotional connection which gradually takes the company to higher levels, less complications and more money- means higher profits (Kim and Kim, 2015).
If the customer is emotionally connected with the product, he uses it for a longer period of time, and also tells other people about the benefits of using that product, which creates a chain and attracts new customers without doing much effort. An Omni channel approach, i.e., the easy accessibility of the products can be made available to the customer, both online through mobile apps and websites, information and promotion of the product on social media and offline at the stores. The best CEM strategy according to me is the Customer Differentiation & Data Strategy (LIU and CHENG, 2012).
The data and the problems faced by the customer should be accessible in such a way that every stakeholder, right from top management to front office people can easily analyze the problem and take suitable actions on it. For example, a staggering 62 percent of people have issues with internet speed provided by the company. The problem was due to speed and reliability issues. These issues must be resolved as early as possible. Also, the data related to such issues must be centralized which is accessible to all. Addressing complaints in lesser time will bind your customers for a longer period of time and will build a trust on the company (Mehta, 2016).
Else, if the customer starts feeling that the complaints and problems are not taken care of, they might jump and purchase the products from the company’s competitors giving a downfall to the company both monetarily and emotionally. If required, the products offered by the company can also be customized according to the customer’s needs (Mark, Niraj and Dawar, 2012).
Conclusion
Telstra Corporation Limited has already been serving a great customer satisfaction in the previous years. The company has also introduced new strategies which shall be beneficial to the customers. It is working on reducing cost of the product, making the products more simplified so that it is easy for the customer to handle. As committed, the company had increased the capacity for fixed broadband connections which gradually satisfied the customers and the company crossed the Netflix speed index in the past months. The company aims to solve the problems with its new strategies. In future, Telstra promises to become Australia’s safest, fastest and most reliable network.
References
Bassi, M., Pagnozzi, M. and Piccolo, S. (2015). Product Differentiation by Competing Vertical Hierarchies. Journal of Economics & Management Strategy, 24(4), pp.904-933.
Blitz, A. (2017). Lessons from the steel industry: if you can’t compete on price, innovate your way to value-added differentiation. Strategy & Leadership, 45(5), pp.26-32.
Kim, K. and Jin, S. (2015). Branch-Based Centralized Data Collection for Smart Grids Using Wireless Sensor Networks. Sensors, 15(5), pp.11854-11872.
Kim, S. and Kim, Y. (2015). The Development of Customer Experience Management Competency Scale in the Manufacturing industry – Top Plan DNC Customer Experience Management Casestudy -. KOREA SCIENCE & ART FORUM, 20, p.135.
LIU, H. and CHENG, L. (2012). Priority-based service differentiation and rate control strategy. Journal of Computer Applications, 31(6), pp.1458-1460.
Mark, T., Niraj, R. and Dawar, N. (2012). Uncovering Customer Profitability Segments for Business Customers. Journal of Business-to-Business Marketing, 19(1), pp.1-32.
Mehta, A. (2016). A Customer Relationship Management Model to Integrate Customer Relationship Experience Quadrant and CRX Life Cycle. SSRN Electronic Journal.
Ray Gehani, R. (2013). Innovative Strategic Leader Transforming From a Low-Cost Strategy to Product Differentiation Strategy. Journal of technology management & innovation, 8(2), pp.144-155.
Tay, H. (2003). Achieving competitive differentiation: the challenge for automakers. Strategy & Leadership, 31(4), pp.23-30.
Zhu, B. and Li, J. (2014). A Large Site Centralized Data Classification Strategy Based on User Value. Advanced Materials Research, 1030-1032, pp.1619-1622.
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