How Should Telecom Companies Encourage Innovation
Does life without a phone make your spine tingle with anxiety? If so, you’re not alone. Accenture conveys that 77% of consumers are not as loyal to brands as they were three years ago. It reveals how integral telecom companies have evolved in our hyper-connected modern earth. Yet, despite this increasing need, keeping customers faithful hasn’t been easy. Like everyone else, the telecom enterprise must work harder than ever at client retention.
Traditional telecom company models have eroded.
Most telco earnings were generated from voice traffic even a few tenures back. A technological outbreak has created a fundamentally different landscape with myriad new factors and considerations. From a simple text to hailing a cab right from your phone, the way items work in telecoms has changed forever.
Digital disruptors have brought significant market share.
- In Singapore, MyRepublic was founded in 2012 and quickly took 7 percent of the fixed-broadband demand share.
- Free Mobile charged a 19 percent telecom market stake in France within four years of founding in 2012, thanks to solid digital consumer engagement and digital-only allocation.
- In the United Kingdom, a crowdsourcing model for consumer assistance helped giffgaff become a famous telecom label.
With the Internet of Things and 5G on the horizon, linking us ever more closely, the probabilities for the future are seemingly endless.
What telecom customers want now
Customers want a good customer experience – 53 percent say good customer experiences play an essential role in their decision-making regarding telcos.
Telcos, who rank worst among several industries for addressing customer needs, must still perform on this front. If they don’t start meeting customer expectations, they run the risk of losing money right away and subsequently alienating their clientele.
Churn is the only outcome when a poor client experience is offered. According to a recent study, lousy customer service was the primary factor for 39% of Americans who canceled a contract with a company in the previous 24 months. Moreover, half (52%) of those who terminated a phone, internet, TV, or cable contract did so because of a persistently bad experience; only 17% did so because of a previous disaster. It is evident that clients are ready to overlook mistakes but will not put up with a consistent subpar experience.
Customers now have specific expectations of telco companies and their services since the world around them has changed. They desire that they:
- Be digital-friendly.Fifty-four percent would think of alternative providers if the online customer trip was difficult or taxing.
- Be experienced & service-oriented.Over seventy-five percent would be more likely to buy a product if a video or live chat were known to resolve doubts.
- Be fascinating and conversational.Seventy-seven percent would like more human relations online.
- Deliver seamless and quick sales service.Forty-five percent think real-time support is essential when choosing a web provider online.
One such company that doesn’t only encourage innovation but is working towards the change of telecom for the near future and eventually changing the overall picture of telecom. There are many protocols to follow to be in the position to bring the change; hence Bravo Telecom has made a place in the telecom service-providing market to put their point forward and get a positive response.
Bravo Telecom has been an Internet provider selling TV and residential phone services in the Quebec region since 2008. Aware of the importance of our role in the technological development of our community, we have been committed since the beginning to offering you quality, efficient, affordable, and honest services.
At Bravo Telecom, we are a motivated and dynamic team that takes your satisfaction to heart and makes customer service its main performance lever. Their offer extends from residential or business telephone to high-speed internet using cable or hybrid fiber technology. They also provide our customers with a complete and diversified TV offer.