For an edge in Digital era, telecom companies need to turn around the tables


The world has evolved as an internet hub and we see the world through gadgets. It is becoming more difficult for the telecom companies to generate revenue as digitalization happened. The last few years’ figures revealed a steep downfall in the revenue from landlines, calls, and SMS. To meet the changing market demands, the telecom companies have to come up with new solutions to bring new life to the business. While on second thoughts, digitization has untapped potential for the telecommunication companies too, just they need an eye to visualize it that way! As these companies have already great infrastructure and human resources already in place, they can actually turn around the tables in their favor, if they wish to.

Re-vamp the core: Shop drop-ins need to be minimized as people don’t have time today. Finding reasons why people come in and have to wait long just to gain knowledge about new product or how to get activated is sheer waste of time, switching to digital mediums will make customer happy. Secondly, connecting with customer care over voice call is a tedious task switching to chat based apps or online live chats is an economical option. Further the online payments will enable telecom firms to serve their customers with an ease and add value driven factor.

Generate revenue from additional sources: Spreading their reach to Financial, IT, Healthcare, Media, and retail sectors can bring a lot of sale and support related work. Providing digital messaging solutions for bulk messaging and other such practical e-telecom solutions will reap in profits. Further database sharing can act as additional line of income.

Increase capabilities: Telecom companies can handle data analytics services, digital processes, streaming, data IT structure etc. which will revamp the basic idea of the organization and make sustainability easier in the market.

Remove old tech: regularly upgrading to new technology will bring more business. Associating with out-sourced market leaders will be a great help while you can focus on your core business they can make your backbone strong.

Understand the customer: Vital is to live in the shoes of the customer and think what type of support is required and at what stage. Sync your support system accordingly and make sure to digitize the communication process for effective results.

Practical changes to the business and incorporating digital processes will increase the EBITA of the firm and make it more sustainable to the ever-changing market needs.