Telecommunications, as we know it, is no more! But it has metamorphosed into a bigger service industry that provides much more than just basic voice based services.
Ranging from pure entertainment-related services to other value added and data services, telecom industry has improved by leaps and bounds with the help of new technological advancements. But the fact is that despite these unique services, the industry still remains vulnerable to many threats that can stagnate its revenue growth overnight. Most companies are wrestling to deliver unique customer experience to tackle the problem.
The main challenges for the development and delivery of effective customer experience programs in telecom industry are defining, measuring and improving customer experience. Advanced technology and new product launches in this agile sector adds to the complexity of the situation as it becomes a little difficult for the customers to choose the best communication providers. On the other hand, managing the costs efficiently and meeting the needs of the customers regularly has become a big challenge even for the best telecommunications companies.
Here are 6 different Strategies that can ideally be useful for telecom industry:
Redefining data service offerings around customer experience:
When you think broadband, customer experience is directly related to bandwidth strength. The percentage of video websites, which have been driving traffic since 2008, has now escalated by 52% each year. Consumers are expected to analyze other factors also to make their decisions. What still remains a big challenge for the telecom industries is to make the speed number less meaningful and establish new areas of differentiation.
Enhancing telecom speeds:
While the primary concern of the telecoms is to provide value-based services which are different from that of cable companies, they must aim to deliver better speeds. Given the launch of latest technologies in the market, it is quiet cost-effective for the telecoms to deliver high-speed bandwidth.
The current telecom industry is difficult to be expanded by the traditional marketing gimmicks that promote speed. It is high time for the industries to distinguish user segments with distinct needs. Telecom must employ sophisticated analytical tools to track customer needs as and when these needs evolve.
Agile product development:
The telecom industry runs on the wheels of innovation. Rapid innovation is a dire necessity in order to develop value proposition, offer prototyping, iterative testing and learning cycles, and new product launches.
Cultural shift beyond price and cost:
Cost and price are the primary concern at most of the telecom firms and a major chunk of energy is spent on these priorities. The focus must be to shift the attention and change the culture to reinforce other segments like focusing on customers’ needs and innovation.
Balanced growth strategies:
Apart from roping new customers, Telecommunication players have to devise innovative strategies to generate higher revenue from existing customers to ensure future growth.To face the present challenges of the wireless industry, there needs to be a thoughtful strategy in place to eliminate the need for price competitiveness or technological parity. The telecom industry must look out for ways to develop and implement a unique customer experience design across the enterprise and redesign the processes in order to deliver the desired moments of truth across essential touch points to emphasize its brand value proposition. We integrate customer behavioral insights to refine the experience, ensuring that treatments are appropriately targeted and result in desired customer behavior.