A German telecom industry client encountered rapidly declining profits as intense competition and technological advancements redefined the industry landscape. Infiniti helped the client to strengthen its market position and develop a new growth strategy.
Although the German telecom industry has been experiencing positive growth over the past few years, market innovations and industry developments are compelling telecom service providers to rethink the way they operate and strengthen competitive position. Besides, competition from OTT services, cybersecurity risks, rising need to diversify offerings, and the demand for responsive customer service are increasing challenges for companies operating in the German telecom industry. As such, telecom service providers will need to upgrade their IT and connectivity infrastructure and focus on improving customer service.
Companies in the German telecom industry must take strategic actions to better serve customers in the new normal and emerge stronger from the COVID-19 crisis. Our COVID-19 business continuity support solutions can help you achieve this strategic objective. RFP here.
The Business Challenge
The client is a telecom service provider in Germany.
With the German telecom industry continuing to deal with network cybersecurity risks and an uncertain regulatory environment, the client needed a new growth strategy that would address the complex issues eroding growth and its market leadership. This required overcoming major hurdles including creating cost reduction plans, strengthening competitive position, upgrading and transitioning customers to improved broadband network and IT platforms, and redesigning customer service processes. They chose to partner with Infiniti Research to leverage their expertise in offering market scanning and monitoring.
Other key objectives of the client were:
- Cut costs and focus on topline growth
- Redesign the customer service process by defining critical interventions that would minimize changes in the supporting IT systems
- Align channels to customer needs
- Win back and retain customers
Telecom companies that treat customers like a long-term asset can build a more loyal and valuable customer base and emerge from the coronavirus crisis stronger. Our customer intelligence solution can help you gather customer insights and emerge stronger post the COVID-19 crisis. Contact us here.
Our Integrated Approach
Initially, our market intelligence analysts worked closely with the German telecom industry client’s operation and sales department to understand their key challenges. Then, our experts analyzed the customer needs and requirements. Our customer needs analysis showed that the German telecom industry client should focus on increasing customer experiences across all customer support centers. To achieve this key objective, we helped the client’s sales team to segment customers based on their need and provide personalized offerings.
In the next phase, we conducted a workforce segmentation analysis and identified the reasons for employee turnover. Based on the analysis, we provided recommendations for the client to improve performance, especially among its field workers by creating flexible incentives and programs.
The next phase of the engagement involved technology assessment, where we helped the client to identify cost-effective technologies in the German telecom industry. Besides, we helped the client to pursue digital media opportunities as a growth engine. In addition to this, we helped the client to adapt their organization to digital transformation by creating strong cross-functional interfaces. We also devised a risk assessment matrix to help the client stay vigilant in the fight against data breaches and malicious hacks.
Business Outcome
By leveraging our market scanning and monitoring analysis, the German telecom industry client was able to upgrade wireless networks to provide customers with superior service and improve customer satisfaction. Also, they were able to focus sales around targeted customers and align sales, delivery, pricing, and products around service growth. Besides, the client was able to fundamentally redesign the customer service process by defining critical interventions that would minimize changes in the supporting IT systems.
With Infiniti’s market scanning and monitoring analysis, the client was also able to transform their business model, mitigate cybersecurity threats, and meet the demand for responsive customer service. Also, the German telecom sector client was able to achieve a 50% reduction in delivery lead times for basic telecom products and a 66% reduction in inquiry calls. In addition to this, the German telecom industry client was able to strengthen its market position and achieve around 33% increase in annual revenue.
Want to know how our market scanning and monitoring analysis solution can help your business combat the impact of COVID-19 crisis? Request more info here.
