How will the ongoing cost of living crisis affect Telecoms?
Written by Tavy Stubbs on 2 minute read
As the cost of living crisis continues to escalate into peak season, partner marketing offers ways for telco brands to adapt and drive consumer loyalty.
ONS has recently published that “9 in 10 (89%) adults in Great Britain continue to report that their cost of living has increased, equal to around 46 million people. This is an increase from around 6 in 10 (62%, 32 million adults)” since November 2021. Increased costs have inevitably led to customers reviewing their monthly bills with greater scrutiny. Should telecoms brands expect a more muted Black Friday period versus last year?
How can Telecoms brands offer the greatest value to their customers?
In light of the ongoing cost of living crisis, ONS has reported an increase in the number of people shopping around for deals. Whilst this shift in consumer behaviour will have a direct impact on brand loyalty, it is an opportunity to increase market share. For example, CSS, editorial and cashback sites dedicated to helping customers to cost save are already prevalent among telecoms affiliates, with brands such as MoneySavingExpert already having mature publisher programmes.
Six ways to optimise the affiliate channel for Telecoms throughout the peak season:
- Ensure your best offers are visible and available across the extended Black Friday period; keep your offers tab up-to-date to allow as many publishers as possible to access your promotions. Remember to incorporate offers for value handsets and refurbished products.
- Monitor your product feeds, they need to be accurate and up to date with the latest deals. This will be a key resource for price comparison publishers to make product and bundle recommendations.
- Establish USPs. Consider what makes you different from other retailers. Do you offer free roaming? Are there free Wi-fi extenders or deals on TV packages and extras?
- Offer incentives to customers via gift cards or free gifts with a purchase. Value-added rewards ahead of the gifting period will be a big perk to many customers who may wish to use these to shop or repurpose as gifts, especially if they’re looking to cut costs over the festive period.
- Consider bill credits, these are valued as one of the biggest telco incentives. Reducing the cost of monthly payments will be a huge attraction for those looking to minimise household outgoings.
- Think about flexibility, prepare a diverse mix and range of offers and rewards to tap into across the peak period and to reduce over-reliance on one product type, as typical purchasing habits may no longer be reliable.
If the last two years have taught us anything, it’s that we cannot rely on seasonality or pre-empt market trends. Managing a diverse offer portfolio, across a range of products with wide customer appeal will be key to a successful peak period.
