Report: Trends in the Communications Industry
Streamlined experiences, network monetization and better service has never been more important.
When choosing a communication service provider, customers now have more options than ever. The era of 24/7 virtual living is ending, leading to decreased use of provider services and lower churn rates. Inflation prompts people to scrutinize spending value. This poses challenges for the telecom industry.
To compete, providers must retain customers by offering better rates, transparent agreements, and improved self-service options. Customers can now opt for simpler, contract-free internet services from tech companies, leading to higher churn rates. Providers add third-party services like streaming and banking to retain customers.
Pressure mounts as customers see communication services as commodities. Providers seek to create more value beyond basic connectivity.
Salesforce's global research, interviewing 500 experts and 6,000 consumers, sheds light on these industry shifts. It helps understand how providers are adapting to maximize ROI, enhance customer experiences, and seize revenue growth opportunities.
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