The telecom industry is the fastest growing and innovative industry compared to other tech industries. It’s continuously changing at rapid speed by giving the quality of services to customers consistently. Nowadays telecom companies mainly focusing on the consumer market for e.g mobiles as the usage became universal, broadband, TV and other data services to generate huge revenue.
The challenge for telecom business is management and security, if they succeed in this it will lead to growing the business market and increases untapped potential customers.
The Takeaways to Boost Telecom Business Revenues
Mobility
In the developing world, mobile usage is growing day-by-day and the situation comes around without mobile the day won’t start. People are habituated in using mobiles for multiple things like shopping, calling, booking, messaging, and for other activities.
Nowadays mobiles became cheaper, they are convenient to use and more useful for line connectivity. It is available for all range of people from poor to high that they can use with flexibility. That’s why mobility became great revenue generator source in the telecom business.
By 2019 the availability of the smartphones in the market increases by three times as today. Smartphones are the gateway to the internet which yields more traffic. Faster mobile data technologies bring big market opportunities to the businesses who capitalize on it.
Security
In this digital world, the telecom service provider’s revenue is falling down because of security. To overcome this they are putting their investments in profitable applications and service development programs.
The telecom operators provide security services to the B2B such as web gateway, firewalls, risk assessment, event management, email security, endpoint protection and other services. But for digital business, they need unique services that protect from cyber-attack and data hackers.
Many companies invest hundreds and billions in data security. Many telecom operators can generate revenue through this cyber-security offerings.
Freelance
Most of the tech industries mainly telecommunications nowadays looking for freelancers for cost-cutting. Instead of hiring a full-time employee they are looking for skilled freelance technicians who potentially able to do the work in-time which yields great savings to the company revenue.
Freelance Marketplaces such as Fieldengineer.com are helping telecom businesses in completing the projects on time with low cost compared to the full time employee.
Leveraging Data
Most of the telecom companies handles large volumes of data. The monetization of this data leads to provide better customer service and individualized service. The insights from this data are more useful to the marketers and advertisers that they can capitalize to develop customer promotions.
IoT
It is a global network connection of computers, linked into exchanging the data. These machine-to-machine devices always accept wireless transactions. Day-by-day this market is growing exponentially and millions of devices with sensors are receiving and sending the large volumes of data over the Internet. As per surveys, it expects to reach over $19 trillion in few years through Internet connectivity and services, such as machine-to-machine data analytics.
Prepaid Cards
Most of the mobile customers in America uses Master and Visa prepaid cards than any other cards that offer rewards, rebates, gift cards, and other price discounts. To maintain valuable customers, for contract renewals or customer appreciation offering a prepaid card is a great way to push your customers in the right direction. It adds value to the business
Prepaid cards are used across all demographics and they are cost effective. As per consumer survey, customers that are offered prepaid cards are 2x more likely to remain customers than those who are not. The prepaid cards always offered a customized experience and they are more than just a plastic. It doesn’t offer any discounts, redeemed points, or a telephone call. It’s all about giving customer instant access to money they can use anywhere. If a customer makes any purchase, they associate that purchase with the company that offered that prepaid card.
Increase your customer engagement through surveys, subscriptions, and promoting new products. Try to get customers to participate in online surveys, let them subscribe to email updates and promoting the new product to increase brand awareness.
By managing and implementing prepaid card program it significantly effects in your sales and marketing. Company ROIs can be calculated and helps in increasing the revenue of the telecom business through different programs which involve activation, loaded, funds allocated and active customers.
These are the new opportunities awaiting at your doorstep for smart telecom businesses that are willing to generate great revenue.
