With 2020 around the corner, it’s time to start thinking about telecom sales strategies that win the competition. According to experts, the worldwide telecommunications industry expects to expand to $1.5 trillion by the end of 2020. The industry is booming but fierce competition between carriers may reduce the market share of each of them. Whether you are a well-established business or a new-comer, an effective customer acquisition approach is essential . Based on the experience of telecommunication companies around the globe, we have chosen five strategies to drive in customer engagement.
1. Product Differentiation
A survey conducted in 2017, revealed that many customers don’t even know about the features of the telecom services they use everyday. Moreover, when Internet service providers name their packages like turbo or ultra, people don’t really understand what they mean. Businesses and customers speak a different language, so putting a human face on telecom services can help step-up the customer experience. After adopting this practice, Telstra, the largest Australian mobile network, saw a 17% increase in customer satisfaction.
2. Customer Experience
The best telecom sales strategies keep customer experience in mind. This approach is vital, especially when the telecom industry is known for low levels of consumer satisfaction. The most important step to take is to shed the bad reputation through improving the customer experience. There are so many things companies can do. However, the starting point is to analyze the feedback and find the source of discontent. This is what a Hong Kong based telecom company did. They optimized their network to consequently reduce downtime and improve connectivity. Furthermore, they notified customers on removing outages whenever they occurred. In the end, the business achieved a reduction in customer complaints by 47% and 34% on 3G and 4G networks respectively.
3. Analytical Marketing
With a vast array of telecom solutions, customers feel confused and overwhelmed. There is hardly any person who needs every single service available out there. Analytical marketing is useful to understand the needs of a particular person or a group. This approach relies on customer data to learn which services suit customers based on their demographics, lifestyle, etc. As a result, businesses can break their plans into smaller segments with more personalized offers. After adopting this strategy, Turkcell managed to increase their profits by $15 million per year. Additionally, they were able to shorten their marketing cycle tenfold.
4. Content Marketing
In this day and age, content is everything. We consume tons of information on the Internet, YouTube, and social media apps. It would be foolish to ignore this channel to communicate with your prospects. Virgin Mobile, for example, seized this opportunity and teamed up with BuzzFeed to target younger auditory. The company created its own news hub that became a source of fun, entertaining, and informative content. Virgin Mobile got to achieve a friendly atmosphere and the feeling of involvement among young prospects. As a result, more than 10% of the audience started considering Virgin Mobile as their next carrier.
5. Video Marketing
A spot-on video message, similarly to an apt image, is worth a thousand words. Verizon, for example, used this strategy to showcase their products and highlight the benefits. As a result, they could improve conversion and decrease the load on their call centers. China Telecom went even further and rolled out its own streaming service. Its goal was to deliver a high-quality picture, cutting-edge technology, as well as seamless user experience. Within two years after its launch, China Telecom gained 2 million new clients. In addition to this, they got hold of around 20% of the nationwide video streaming market.
Telecom Sales Strategies Bottom Line
The key success factor in finding new customers is understanding their needs. Consequently, customer satisfaction and user experience underlie the most effective telecom sales strategies. If you struggle to boost your clientele or you see dissatisfaction, these approaches will help reverse a trend.
BT, Microsoft partner to enhance voice calling
London-based telecom provider BT partnered on Thursday with Microsoft to enhance enterprise voice calling, security, and industry-focused services in various sectors.
The new agreement will allow BT to switch its global managed voice services to the cloud and deliver them directly through Microsoft Teams.
Microsoft’s Operator Connect plan, that supports telecom operators adding their calling plans to Microsoft Teams, will help the British partner to create new business models and revenue streams.
According to Microsoft’s blog post this deal “paves the way for the development of revolutionary new cloud-based products and services for BT’s voice customers and the wider telecoms sector.”
As for cybersecurity part of the deal, the pair will work together to build and launch a new generation of managed security services that will enable and secure the modern collaborative workplace.
The British provider will team up with the U.S. tech giant to create unique security propositions to protect clients’ operations in the cloud as well as its own IT infrastructure.
“BT and Microsoft are at the forefront of innovation in global digital platforms and connectivity that will take technology and communication beyond limits,” Bas Burger, CEO of Global at BT, and executive sponsor of BT’s partnership with Microsoft said in a joint statement.
“This partnership will ensure all of Microsoft’s solutions work ‘Best on BT’ and support both companies’ commitments to improving digital skills in the community,” Burger added.
In parallel, Omar Abbosh, corporate vice president of industry solutions at Microsoft, considered the partnership as the “start of an exciting, shared journey of innovation and collaboration that will shape the future of telecoms.”
Abbosh further explained that BT can use Microsoft’s cutting-edge tools to develop new communications services that meet the needs and demands of today’s customers.
It is worth mentioning that the number of users of BT’s managed Microsoft Teams collaboration service has almost doubled during the past 12 months, according to the pair.
5G drives Chinese mobile service to rise at 3.1% in 2026
Chinese mobile service revenues are expected to grow at a compounded annual growth rate CAGR of 3.1 percent from $131.3 billion in 2021 to $152.7 billion in 2026, according to a study published on Thursday.
London-based data analytics company, GlobalData published a study showing that the mobile data revenues will witness a rise in its CAGR reaching 6.8 percent due to the growing adoption of 5G services, followed by the rise in data Average Revenue Per Unit (ARPU).
“5G subscriptions will surpass 4G subscriptions in 2023 and go on to account for 73.8 percent of the total mobile subscriptions share in 2026, driven by the ongoing 5G network expansion by operators and increase in the availability of 5G-enabled smartphones,” said Harika Damidi, Telecoms Analyst at GlobalData.
In parallel, findings indicate that the average mobile data usage is expected to increase from 9.9GB per month in 2021 to around 32.6GB per month in 2026, as a result to the mounting consumption of high-bandwidth online entertainment and social media content over smartphones.
However, data revealed that the mobile voice revenues are supposed to drop at a CAGR of 5.2 percent between 2021 and 2026, due to falling voice ARPU levels.
Damidi explained that the increase in penetration of Internet of Things (IoT) and M2M services are also expected to drive market growth during the forecast period.
The analyst further highlighted that two state-owned companies had led the Chinese telecom market in terms of mobile subscriptions last year.
Damidi said that China Mobile ranked first followed by China Telecom, explaining that China Mobile “is making strategic investments in 5G base stations, data centers, industrial Internet, and IoT to ensure its leadership.”
It is worth mentioning that, in 2020, China mobile generated a revenue of $118.8 billion, in comparison China Telecom’s $60.91 billion during the same year according to Statista.
Indian Telco Reliance Jio adds 3.5 million users in May
Indian telco Reliance Jio added 3.55 million wireless subscribers during the month of May, acquiring the highest rank in the telecom industry for four consecutive months.
Despite the overall wireless subscriber base drop throughout that month by 6.27 million, Jio outperformed its fellow Indian telcos Bharti Airtel and Vodafone Idea.
Both providers lost 4.61 million and 4.28 million subscribers, respectively.
As per data shared by the Telecom Regulatory Authority of India Trai, Jio’s wireless subscriber base increased by 0.83 percent to reach 431.23 million.
In contrast, Bharti Airtel’s base declined by 1.31 percent to 348.29 million.
Similarly, Vodafone Idea’s wireless user base was down 1.52 percent to 277.62 million.
In terms of wireless broadband users, Jio’s base stood at 431.23 million, followed by Airtel at 189.49 million and Vodafone Idea at 119.63 million.
Industry experts believe the loss in user-base is mainly due to the lockdown and reverse migration to villages.
Various states across the country were under lockdown in May to reduce the spread of the coronavirus. The decision resulted in labors heading back to their towns.
Additionally, several workers are thought to have discontinued their mobile subscription.
Despite these factors, Jio was able to add subscribers due to its strong offline retail network at the micro-level. Also, the company was able to sell JioPhone to a good number of customers, many of whom have come from rivals Bharti Airtel and Vodafone Idea.
Moreover, Reliance Jio’s fiber optic project deployed in 2018, enabled it to add around 200,000 wireline broadband users.
It is worth mentioning that the Indian telco partnered on Thursday with Oppo to field test Jio’s standalone 5G networks.
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