Digital Disruption – Is There Any Need For Telecom Businesses To Fear?
The telecommunication industry is one of many industries that have been rocked by a monstrous wave of digital disruption in the past decade. With their age-old business strategies and operating models coming precipitously close to redundancy in a digital world, decision makers at top telecom companies are donning their thinking caps to decipher methods to embrace technology to keep up with the times.
When the landline phones first made an appearance in households, they created a big furore in the lives of those who had never experienced the joy of being able to connect so easily with their loved ones all over the world. Then came the age of mobile phones and the fixed line phones were swiftly relegated to a corner where they sat morosely gathering dust. Consumers had now got a taste of absolute, untethered connectivity. This phase lasted for a while until digital technology began evolving rapidly giving rise to newer, better, faster, and more creative methods of staying in touch. Applications like Skype and Whatsapp began offering free-of-charge voice calling facilities, video calling options, and real-time chat features, all of which were gobbled up instantly by connectivity-hungry customers. As many such free services mushroomed, the voice call, text messaging, and MMS rates witnessed a slide, all of which attributed to dwindling profits in the telecom industry.
While all the disruption caused by digitization may seem alarming at first, it does not necessarily spell doom for the telecom sector. On the contrary, it creates an unprecedented opportunity to conceptualize new customer-focused offerings and refurbish internal systems using the many advantages of digital technology. Here are some ways in which telecom players can explore the digital boom to renovate their businesses and avoid extinction:
1. Establish E-Service Facilities – Customer-service has undergone a complete makeover with the advent of digital technology. Where once a customer had no other option but to either personally visit a store or call customer care for things like lodging service complaints, seeking tech support or paying bills, today most of these routine services are offered via mobile applications. An easy to use mobile app allows customers to chat with service executives, access their plan details, and browse through FAQ repositories and latest offers from the comfort of their homes.
2. Use Data Analytics To Gather Business Insights – An Internet-based customer interaction platform is an excellent source of rich data that includes information about common grievances, feedback, and usage patterns. Running data analytics programs to churn such information and generate insights that can lead to evidence-based decision making is a luxury that is accorded to the telecom industry by the very same digital revolution that initially posed as a threat.
3. Enhance In-Store Experience – By arming in-store executives with communication tools that enable them to service customers better, telecom giants are using digital technology to improve their customer satisfaction scores. The ability to access customer information instantly and collaborate with in-house experts to find effective solutions for issues can improve customer experience infinitely and help boost business.
4. Focus On Employee Transformation – It is possible to ride out the wave of digitization and emerge at the top only if your employees are equal participants in the digital transition. Training both the in-store and on-field employees sufficiently so that they are able to efficiently utilize the tools at their disposal is an excellent first step in this direction. Augmenting training with a well-defined change management program that aims at making the digital evolution as bump-free as possible further helps to align employees with the new business model. A system that offers interconnectivity within teams can be a perfect solution for achieving maximum employee buy-in when it comes to digital transformation in a telecom setup.
Attenuating margins, unimpressive growth, and stiff competition can all be confronted head-on by telecom operators only if they are willing to incorporate digital technology into their business model. Office Curry’s innovative mobile-based tools can prove to be very beneficial in helping telecom businesses turn the tide in their favor by providing most of the features listed above.