A focus on technological innovation is essential for telcos to strengthen the bond with their customers.
The COVID-19 outbreak has caused widespread concern and economic adversity for almost all industries and sectors. The telecommunications industry is not an exception. Many telcos are seeking for a solution to foster the businesses again.
Apart from expanding the customer base, nurturing relationships with existing clients for a lasting impact might be a better strategy in the face of the pandemic.
Patrons are more demanding than ever. They expect more bandwidth, more discounts, better service quality, superior customer support from service providers. A focus on technological innovation is essential for telcos to have clearer comprehensions about customer expectations.
Optimizing network bandwidth to meet customer needs
Due to the economic and social disruption, people across the globe are relying on telecommunications services more than ever. New normal practices, including working from home and in-house entertainment, require much more data usage.
That leads to progressive demand in bandwidth from end-users. To deal with that challenge, telcos need to improve their infrastructures with innovative technology.
5G – a new advanced wireless technology is one candidate among promising technological solutions. With more than 1000 times wider bandwidth, 5G networks could handle many more connected devices than previous networks such as 3G, 4G. That means the telecommunications companies could provide a better experience with real-time visibility and access thanks to enhanced mobile broadband.
Realizing 5G potentials would require time and investment in fiber densification to add more capability to the network. Advanced bandwidth with higher frequencies increases broadband service options for business and residential customers. With more fiber deployment, telecom carriers will provide users high-speed Internet connections no matter where they live at reasonable prices.
Understanding customers with Big Data Analytics
The exponential growth in the Internet and mobile devices has led to a surge in customer base. Efficiently collecting and analyzing the database will provide the companies with insightful details to facilitate appropriate customer experiences and forecast demands.
Big Data analytics can serve telcos in this difficult situation. They could harness data to:
- Capture the latest user trends to amend network operations
- Product development
- Customer Service
Big Data’s insights have guided telecom providers to take suitable actions to increase retention rates. In 2020, network congestion and internet slowdowns occurred during lockdowns in some areas of America due to surging Internet traffic.
Big Data analytics could predict this problem and alert operators to optimize network usage properly. Big Data analysis also enabled US providers to identify and predict the changes in users’ requirements.
Then, they could generate highly relevant content catered to individual’s interests with flexible payment recommendations. That helps to retain patrons and diminish the churn rate during the toughest times.
Enhancing customer experiences with Omnichannel
Commonly, customers can contact Telecom service providers via multiple platforms such as websites, social network hotlines, and physical stores. Such diverse communication channels can maximize customer engagement.
However, it may put the provider on the verge of creating an inconsistent and disrupted experience. An omnichannel approach appears to be an excellent initiative for telecom companies to address this issue.
The omnichannel strategy is to manage both digital and physical touchpoints with the customers through a cross-channel platform. It aims to guarantee consistent and effortless interactions with customers across all channels.
Telcos service providers will provide their users with the best communication channel and personalized offers that suit them the most. That enhances customer experience with higher convenience and satisfaction, resulting in a higher retention rate.
Heading into the second year of the pandemic, the telecommunications industry has to confront many challenges. Telecom executives need a clear sense of opportunities to propose recovery strategies.
Besides business focus activities, technology investment in products and services development might be a long-term solution. That offers them advantages to foster customer relationships for the economic revival of the industry and society.