To survive and flourish in this sector requires embracing new technologies and understanding the impact they have on your organization. Telcos are using disruptive technologies to enhance business models and improve operational efficiency.
Where once the customer dialogue for telcos was defensive – primarily about reducing costs – the focus has now shifted to increasing the share of wallet and raising customer satisfaction.
70 percent or more of respondents say D&A, mobile, cloud, social media, IoT, marketing platforms, digital payments, and AI are all changing how they serve their customers.
D&A plays a vital part in understanding customer behavior, giving telcos insights on how to better serve their customers, which in turn should increase customer loyalty and reduce churn. But it’s IoT (54 percent) and wearables (53 percent) that are the top two technologies for supporting customers.
Disruptive technologies bring the kind of operational efficiencies that can improve competitiveness and margins in an asset-heavy sector.
Four out of five telecom leaders admit that their companies’ core operating models are changing, as a result of disruptive technologies, with mobile and D&A having the most impact.
By utilizing sensors and smart devices, telecom companies can gain a number of important benefits from IoT, through preventive maintenance on their networks, and tracking and auditing assets as they move through the supply chain. But, only 30 percent believe that IoT is aiding their efforts to improve quality – suggesting that many are missing a significant opportunity.
The right investments in disruptive technologies can bring significant competitive advantage, and reflect the direction in which the telecom sector is moving. Customers are prominent in the minds of telecom executives. The single most important investment objective is to improve the quality of products and services, while other customer-oriented capabilities like marketing, acquisition, customer experience and post-purchase support also feature strongly.
The key investment goals are: