In an age where digital transformation is upon us and the telecoms industry is experiencing a systemic crisis, the need for fresh ideas, operational efficiency and product innovation has never been greater.
Cloud communications, automation and self-service are being demanded by businesses and end consumers. And who can blame them? Businesses are seeing an average saving of 50 to 75 percent by making the switch to VoIP. As businesses flock to the latest platforms, traditional phone companies are left supporting legacy PSTN networks and operational systems. The results? Plummeting revenues and an increase in customer churn.
Even with this information, voice providers seem to lag behind in product innovation that puts the customer at the centre.
Network operators are being forced to ask difficult questions. How do we streamline our operations and cut costs? How can we create new revenue streams? How do we engage more with clients and partners and offer a better experience?
Let’s look at key areas that traditional telecoms need to consider to maintain growth.
With the world becoming more and more globalized, appearing to be in a local market is vital. According to a study by Software Advice on local numbers, people are four times more likely to answer calls from local numbers and being able to call a local customer support number offers an additional sense of legitimacy with a business in a local market. This means it’s an important consideration for your customers.
Local, national, toll free, mobile and UIFN numbers, need to be in your product offering to add, or enhance, revenue streams. They also need to be easy to spin up, upgrade and manage for the end user, to cater to customer experience demands.
Offering flexibility and choice in numbers, will increase orders and improve customer loyalty.
Imagine your customers can order their own numbers online, configure their IVR and routing, and make changes to their settings on the fly whenever they need to. Well, these solutions are real and network operators are beginning to catch on.
Operators are leveraging the power of automation to increase service delivery, reduce back office costs and operational inefficiencies, offer on-demand ordering of cloud communications, and add value for their customers.
Integrating with services such as the SpeakIntelligence webshop, means achieving this is easier than it’s ever been. Companies implementing such services are reporting returns of up to 300% based on sales and marketing investments. That’s something to pay attention to!
Become more efficient and deliver services in real-time. Offer end users a greater choice of numbers and level of support they need. Give them the flexibility to order online, upgrade their services, and speak to a rep if they need to online, via social or on the phone. Collaborate with marketing and make sure marketing communications are efficient and useful. These are all the things that every business needs to take a hard look at to survive in an ever more digital and automated world.
The market is shifting and becoming more competitive. Traditional Telcos will find it a challenge to adjust to the change, but change they must. By reducing operational costs and increasing value for your customers, you’ll ensure your survival.