November 21, 2014 | Written by: Bob Fox
Categorized: Communications Service Providers
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I’ve written here about key growth plays for CSPs. We know that current technologies make entirely new strategies possible. We know that customers demand innovative services and products, and are willing to pay for them.
Here’s a growth play that can unleash the potential of high value customers and services to increase revenue and create new share: Give customers what they want.
Salespeople know it; CIOs know it.¹ Demand drives the enterprise, so successful companies today, in any industry, fight to provide high value offerings. They prioritize the customer experience. But consumers—they are way smart. Way influential, too. Communications consumers are voracious for innovative, connected platforms, services and products—and are only too happy to spread the word.
For example, I recently presented at the Dreamforce event in San Francisco, on October 14th. My topic was “Industry in Transition: Telecom in 2014.” Afterward, a particular telecom client asked me about what other CSPs are doing to re-align network and IT infrastructure to create innovative customer engagement initiatives. Translation? “I’m trying to give customers what they want—when, how and where they want it: social, mobile, real time, or location-based.” Brilliant!
CSPs seeking real competitive differentiation don’t have far to look. Technology provides the edge customers insist on. And industry-tailored high tech offerings from third parties are growing unstoppably. For CSPs, these offerings enable very good things, like new markets, valuable services, lower costs and higher revenues.
While some new technologies are complex or advanced, no one wants to court diminished share and margins. In any case, today’s as-a-service business models make adoption simpler. Which truly is why now, more than ever, is the time to give customers what they want.