Four takeaways on current telecom challenges and priorities

Introduction

Communication is key and at the heart of modern connection lies the telecommunications industry. Competition is fierce as telecom leaders look to differentiate themselves, but many struggle with how.

In our recent commissioned study, Forrester Consulting surveyed 278 decision-markers at telecom companies who are involved with setting and/or executing their organization’s B2C digital experience strategy. 

Here are four takeaways from the study. To read the full report of the survey results, click here. 

1. Preparedness

For many leaders, having a strong vision and strategy forward is not the problem, the significant challenge is execution. 

• Under 50% of telecom decision-makers indicated their organization has high levels of preparedness to deliver on key business priorities
• 68% of leaders categorized new customer acquisition as the biggest challenge
• 77% feel they need better business data/insights to guide investments and improvements 

2. Innovation

It’s easy to assume that telcos are rich in technical expertise and resources, but challenges with skill sets, data and technologies are impacting an organization’s ability to innovate. Leaders fear a lack of business agility will affect their competitiveness and lower consumer confidence. 

• 47% see lack of innovation and agility to be a current negative impact while 36% see it as a potential negative they are concerned about
• 62% list lack of skill set/expertise to execute priorities properly as a top challenge

3. Tactics

Serving the customer is a top priority and improvement tactics go a long way in supporting that. Data, technology and operational tactics are in focus to better inform decisions and increase customer loyalty. 

• 71% want to apply more advanced data analysis techniques
• 68% wish to use data insights more frequently for business decisions and innovations
• 68% intend to put greater focus on loyalty and personalization in customer outreach

4. Partnerships

Everything doesn’t need to be kept in-house. Strategic outsourcing and partnerships are expected to receive a substantial portion of investment as leaders look to leverage partners to fill gaps. 

• 46% expect to invest in partners for security and compliance
• 36% expect to address employee skill and expertise gaps through partnerships

For more takeaways, read the full report: Deciphering key priorities and challenges facing telecom and media providers.