DIVERSIFY OR DIE?
WHY TELCOS NEED TO TRANSFORM TO SURVIVE
Published Summer 2018
The tech revolution is demanding sweeping changes across the telecom sector – it’s a focus on customer experience that will determine whether or not the big incumbents can stay relevant. In this BIO telco sector snapshot, we reveal findings of our recent consumer survey and suggest three areas telcos should focus on to meet the changing demands and needs of modern customers.
The growth of Over-the-Top services (OTTs) is posing a threat to traditional telco providers. Their relentless focus on customers has turned users into loyal fans, diminishing the importance telcos themselves play in customers’ lives.
There is plenty of scope for innovation amongst the telcos, however, as they work to keep pace with rising expectations for best-in-class customer experience. This paper draws upon insights from our recent telecom customer survey to deliver insightful findings and strategic advice on:
- The state of play of the telecom sector and the key points behind OTTs’ success
- How telecom providers need to differentiate by playing to their strengths
- Potential strategies and opportunities for disruption
- Three areas telcos should focus on to stay relevant and shape more meaningful relationships with their customers