Telecoms industry – a growing sector

Telecommunication service providers, also known as telecomm service providers or simply communication service providers, are those companies/individuals, as the case may be, that provide customers with communication services. Telecommunication services include the telephone, Internet service as well as the mobile phone network.

Now even the television network is included in the telecommunication networks thanks to the rise in satellite television systems.

Telecommunication is now an important part of everyone’s lives. Everything is now done on the go, be it business, socialising or even something as simple as buying groceries. Phones and the internet have made everything just a click or a call away and you will have everything delivered to you. Thus, the rise in the importance of telecommunication service providers is understandable. This has brought many service providers into the market.

But with surge in service providers, competition has increased. Moreover communication has now become a daily necessity rather than a luxury. Simply providing the services are no longer enough. Therefore, service providers have started giving additional features to lure customers to their network; features which, by hook or crook, will be able to decrease at least some work for the customer.

Telecommunication service providers have come up various facilities such as family plans, corporate plans, conferencing and teleconferencing services, call forwarding, etc

Challenge in the telecoms industry –

With growing need of communication, the telecommunication industry is now one of the largest growing industries all over the world. People now have a variety of service providers to choose from with different types of additional facilities being given by the providers. Therefore the main challenge faced by telecomm service providers is customer retention as research has shown that the percentage of customers, who continue to be with one company, is very less. The two-step technique devised to face this challenge is:

  • Identify the revenue earning customers – at a time where discounted rates is what customers look for, revenue earning is becoming increasing difficult for the telecoms industry. Therefore, certain customers are identified as revenue earning based on their usage and payments
  • Customer experience management – ensuring that this group of identified customers have a hassle free experience and continue to use their service.
Telecoms Industry

Telecoms Industry

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