Top Telecommunication Strategies

In the recent past, a lot has been happening in the telecommunications sector. The increased uptake of network automation, the introduction of the 5G network, and the shift in demand for quality and effective services by customers. With all these changes, it is time for companies to review their telecommunication strategies and implement changes that will spur growth, reliability, and confidence in customers. Most of these telecommunication strategies are already starting to roll out. 

Intraway is committed to build the future of telecommunications. To learn about our innovative solutions for CSPs, contact us.

Here are Top Telecommunication Strategies you Should Look out for in 2021 

Renewed Focus on Customer Needs 

Telecoms have always struggled in meeting the needs of their consumer, especially from a customer support point of view. Now more than ever, with the economic constraints imposed by COVID-19, telcos have to go back to the drawing board to provide affordable and effective services to consumers. 

The precarious economic situation that consumers find themselves in makes it more likely to cancel their service for more affordable options. As a result, the churn rate has risen from 35% in Q1 of 2019 to 41% in Q1 of 2020. 

Currently, telcos have to figure out ways to continue attracting customers by delivering delightful customer experiences and efficient products and services. Some of the actions that companies can take to better understand and deliver on their consumer’s needs include: 

  • They are exploring new business ideas, technologies, and models that foster a deeper understanding of how consumers behave and improve customer engagement. 
  • Provide leading and impactful products and services that consumers cannot find with other telecommunication providers. 
  • They are offering a robust range of products and services suited to various consumer needs. It’s important to ensure that these services and products are diverse and of great quality with economic value. 
  • Enhance relationships with advertisers to deliver tailored advertising content that appeals to customers and increases leads and prospects. 

Converging Experiences 

Telecommunication companies are at a point where stand-alone products are no longer sustainable. Most customers are looking for diverse, all-in-one packages that give them flexibility and freedom. Most network providers are already taking steps in the right direction by bundling various services and products like calls, data, and messaging, allowing customers to get more out of their subscriptions. 

The shift in customer behavior has a lot to do with the need to converge experiences. Customers now understand and demand better quality service. With the difficult economic times, telcos have to focus on quality products and services that are cost-effective and useful to the consumers. 

Some of the actions that companies can take to encourage convergence and improve customer experience include: 

  • Prepare for these new consumer behaviors because some of them may become permanent. 
  • Explore additional opportunities to offer customers like on-demand products and services and offer crossover services to enrich the diversity and consumer experience. 
  • Make it easier for customers to discover new packages and services tailored for their needs. This will require profound partnerships with advertising agencies to guarantee the exposure of any new products. 
  • Anticipate areas where customers might want an improved experience. 

Monetizing Advanced Wireless Networks 

Despite the numerous adverse effects of COVID-19, there were some silver linings, among them a switch to how people live, work, learn and play. 

Using these new modes of communication, telcos have the opportunity to be the foundation that companies need to recover and thrive in 2021. Telcos now have a larger role to play with the advent of the 5G network and the unprecedented benefits that this network offers. 

5G also presents new opportunities to transform and monetize how they operate and deliver new products and services. 

Some of the actions that companies can take to leverage these new advanced networks and monetizing them are: 

  • It is focusing on the benefits of advanced wireless technologies like 5G and their outcomes 
  • Developing industry-specific enterprise applications by leveraging advanced wireless technologies like 5G 
  • Understanding customer usage patterns to strengthen the value proposition 

Intraway is committed to build the future of telecommunications. To learn about our innovative solutions for CSPs, contact us.

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