The challenging macroeconomic environment has everyone thinking about smart ways to increase revenue, and Communications Service Providers (CSPs) are no exception. Instead of relying on a commodity like offering simple broadband connectivity, many CSPs are looking for ways to leverage new technologies from Wi-Fi 7, 10G to VR and continue to become digital service providers to all effects.
But revenue growth is not an easy task. The TM forum reports that over the past decade revenue growth has proven elusive for CSPs and many have turned to cost optimization instead. Unlike betting everything on new revenue streams, focusing on cost reductions, management sees guaranteed results, and so making smart changes to operating expenses (Opex) has flown to the top of the organizational agenda.
Here are 5 ways you can use Veego technology to optimize Opex and achieve business goals, even during a recession.
How much do you really know about your network performance? Subscribers see a perfect Internet experience as an expectation when they sign up with any provider, similar to how 99% bandwidth has become the starting line for web hosting. This means that if the internet experience isn’t perfect, they will quickly look to the competition. Veego provides illuminating insights into the entire home network and all its connected elements so that CSPs can make smart infrastructure decisions, adding visibility into devices, applications, routers or other CPEs and issues beyond the home such as WAN connectivity, cloud , or servers.
Currently, big data analytics has been shown to have significant value for revenue generation and this is where Veego provides value. We support CSPs in making decisions such as when subscriber network upgrades or trucks should occur and when issues can be managed remotely or without infrastructure changes, which service degradations are persistent issues that need to be addressed, and when to give the green light to the replacements of CPE. Operating costs are limited to where they are essential, and you get happier customers to boot.
Want a slice of a $300 billion pie by 2028? Thats Over the Top (OTT) services, a global trend where CSPs expand their offerings from legacy voice and data bundles to better serve their subscribers.
Every Telco is already aware that the Internet can no longer be a USP. That’s why AT&T and Singtel offer packages that include gaming or streaming bundles, for example, dipping their toes into the world of entertainment services. Other examples are offering enterprise cloud solutions for those who work from home or products that leverage 5G technology such as IoT devices.
For this to work, you need visibility into how the Internet is being used and by whom. Veego provides a granular view of how your subscribers are using the network, while also allowing you to segment users into gamers, streamers, web conferences and more. You can then reach the right homes with the right offers, showing your users that you know what makes them tick, and opening up a direct revenue stream to the customers most likely to sign up on the dotted line.
Understanding churn patterns
The days of customers sticking to a single brand in any industry are long gone. According to the latest research, customer retention in telecoms has plummeted since the start of the pandemic, down 22%. Your competition is making it easier than ever for subscribers to leave your services, yet attracting and acquiring new customers is more expensive than ever. This is why customer experience management is so critical.
Veego helps CSPs achieve subscriber loyalty in many ways. First, CSPs can use contextual data from their subscribers to deliver their own advanced self-care capabilities. What is the root cause of service degradation? Where are issues occurring throughout the customer journey causing issues with the specific apps and services the subscriber is engaged with, in real time?
CSPs can then make this information (and mitigation solutions) available through self-care tools such as mobile apps and customer web portals, as we all know that subscribers would rather listen to their neighbors’ children’s tape recorder than wait around for a call. customer service. By giving subscribers control over their own Internet experience, they can share responsibility for network monitoring and even solve simple problems themselves with step-by-step resolution techniques brought to you by you as their new preferred service provider.
For behind-the-scenes CSPs, Veego offers both reactive and proactive support measures, providing a complete view of the Internet experience in every home. From a single dashboard, you can see which homes are suffering from poor internet performance and, more importantly, why these problems occur. You can segment these homes as those at risk of abandonment and then target them specifically to improve their quality of experience. If coverage is poor, you can send them a Wi-Fi extender, or if too many devices access the same channel, you can implement channel switching. Sky’s the limit.
By combining the techniques discussed so far, CSPs can do much more with their data. In addition to isolating homes on the verge of abandonment, additional segments can be identified to help deliver truly personalized end-user experiences.
At Veego, part of the personalization implementation is based on our advanced Device ID and App ID technologies. After all, just because subscribers are subscribed to the same data package, doesn’t mean they use the web in the same way. One home might primarily use the internet to stream content on Netflix or Hulu, while another only watches its vast DVD collection and relies on the web to work from home.
Our technology identifies devices by type, make and model and can also distinguish between similar applications and their usage, such as knowing if a user is listening to music on Spotify or YouTube. Icing on the cake? Our technology is pattern-based, which means it doesn’t rely on Deep Packet Inspection (DPI), an outdated and legacy approach that is problematic for privacy and insufficient to achieve true visibility.
By recognizing exactly how subscribers interact with Internet services, your teams know what would make their day. Which OTT packages fit every home and how can you show your users that you understand their needs to improve LTV? Start here.
Improve operational efficiency
Ultimately, whether or not there is a recession, every decision you make must return to efficiency. How can you be sure not to waste budget and make smart decisions?
Veego empowers every decision to become data-driven and provides answers to questions like:
# What is the real root cause of this customer complaint?
# Is sending a technician the right call in this scenario?
# Should I authorize an infrastructure update?
Support teams can use Veego’s dashboard to become more effective, even new team members who may have less experience with customer service or technical support (critical in a growing skills gap economy). Observe the decline in average handle time (AHT) numbers and increase in first call resolution (FCR) statistics and bring this data to the board of directors to show them that support costs and network investments are being managed with care and precision.
At Veego, optimizing Opex is all about leveraging the full picture
When new direct revenue is difficult to achieve, cost optimization can make a difference to an experienced CSP’s bottom line. Using Veegos’ state-of-the-art analytics platform, CSPs gain access to comprehensive network intelligence on everything from server and WAN, to CPE, LAN and end device, as well as insight into subscriber behavior that makes a difference when trying to customize at scale. In addition to reducing costs, these changes lead to higher customer satisfaction, which is the true seed of revenue growth!
By Amir Kotler, CEO and co-founder of Veego Inc
About the author
Amir Kotler is the CEO and co-founder of Veego, a hi-tech company with a mission to enhance and personalize online experiences in the connected home. The company’s platform helps CSPs move from generic customer support to intelligence-driven proactive and reactive support. He learn more about Veego.
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