The coronavirus pandemic has forced businesses to innovate and re-strategise
approaches to ensure business continuity and keep them afloat. Whilst industries such as retail and the travel industry are most affected by this pandemic, the Telecoms industry is facing a different type of challenge in this turbulent time.
There aren’t many other industries staring down a future as uncertain as telcos. A stagnant growth and a global downturn on the horizon, Telcos are struggling to keep customers without having to resort to the obvious, giving more data and voice minutes for a cheaper price.
The battle for an emotional connection is the newest frontier in the battle for customer experience.Humans are emotional decision makers. It is not a great challenge to most people’s intuition to say so. When asked, most would accept that when making purchases, emotion plays a part in forming our beliefs and opinions, alongside rational thought and logic.
The biggest problem that telecom operators face is keeping up with the demands of the connected customer. The bar isn’t being set by traditional competitors but by the renowned FANG (Facebook, Amazon, Netflix and Google) companies that have stolen wallet share and commoditised telcos’ offerings.