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Published 2 Months Ago on Tuesday, Jun 14 2022 By Ahmad El Hajj
The telecommunication sector has been evolving at an extremely high pace. Operators have had to constantly work on upgrades and evolutions on their network infrastructure, while developing new services in parallel. As a result, they have been even forced to establish partnerships with many telecom vendors. Long gone are the days where operators had exclusive partnerships with vendors. Operators are now looking for reduced expenditures, good products, and follow-up and support. On the other end, vendors are building the best strategy to ace their telecom sales.
The current market is dominated by vendors that have been in the market for a long time and with a good reputation of delivering high-quality products such as Nokia and Ericsson. From another side, new entrants are emerging, looking to obtain a share in a booming market, such as Huawei, ZTE, Dell Technologies and many others. To make things even more competitive, technology companies (techcos) and notably hyperscalers such Amazon AWS, Google GCP, IBM, and Oracle have even entered the fore to invest their extensive knowledge in edge and cloud computing, in 5G services and notably private networks.
Capturing a share of the increasingly competitive telecom market is not trivial and require a cunning plan in product promotion, bargaining strategy, and expertise in closing the deal. Another key element is to know the competitor to be able to develop a proper sales strategy and pricing plan.
Market share is normally an indicator of the strength of a telecom vendor in the industry and a factor which heavily contributes to beating the competition in closing important deals. To distinguish itself from competition, a telecom company can focus on one or many of the following:
Sales strategies in the telecom industry have never been as important as they are today. The strategy should answer an important question: How can I promote my product in telecom? And the task is harder than one ever thinks about. It is essentially saying how can I prove to the customer that the package I am offering is better than my competitor’s. Although sale strategies can be wildly different, several core concepts are essential in making them successful:
With the increased competition in the telecom market and the high stakes involved in striking a good deal, a good sales strategy is essential to make significant profits. Telecom companies are therefore looking for efficient strategies to increase their market share and consequently drive up their profits. In a nutshell, the strategy revolves around the four know’s: know yourself, know your competitor, know your client, and know the environment. Choosing a proper strategy will further complete the portfolio needed to achieve the intended tasks.
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