Telecom operators are beginning to realize the importance of innovation efforts and unique value-added services. Initially, the role of a telecom operator was once defined as, providing limited voice services to consumers, but with the rapid developments of technology and connectivity, their role has evolved and diversified. However, experts say, that telecom operators have yet to tap into their full potential. Utilizing data and forging better partnerships, may help them achieve this.
A better market position than before
Telecom operators have undoubtedly assumed a more assured, stronger market position; a significant increase in OTT services has also stimulated a greater use of the telecoms network. What can infer from the current market landscape, is that telecoms operators are strong where connectivity is concerned, but have yet to expand their scope to implement services that include more components of emerging technologies.
Data traffic has increased enormously, but this has not led to corresponding revenue growth. Even though the trend is geared toward unlimited data for customers, telecoms operators can still profoundly impact consumer experiences. Despite connectivity becoming somewhat of a global product, the network quality – both in terms of service and user experience – will still distinguish the capabilities of one operator to another. Operators must adapt and benefit from their extended role as experience facilitators.
What should telecom operators focus on?
Data privacy can be the one offering that profoundly distinguishes the services of an operator, especially as concerns continue to rise about the use of personal data. According to a report in 2019 (published on Statista), 53% of users worldwide, are more concerned and apprehensive about how companies store and use their personal data (in comparison to the previous year) – a vital piece of information when considering the improvement of services. Operators are urged by professionals in the industry, to utilize data as a way of boosting revenue growth.
Smart use of customer data combined with strong data management capabilities, can help bolster commercial performance and lay the foundations for superior products, based on in-depth customer profiling and segmentation.
Cultivate partnerships for better growth prospects
Cultivating more relationships with other team players in the industry, will help telecom operators get ahead. Understanding changes and trends in the business, can only ever be learned and understood fully when interaction is made with a diverse range of professionals in tech and telecoms. Knowledge of this kind will enable operators to define their position and utilize their strengths. Innovation partnerships are recognized by telecom operators but must be actively pursued, to secure present and future opportunities.