4 Benefits of Software Marketplaces for Telcos
Gone are the days when there was a clear separation between telecom companies and IT. Both the B2B and the B2C clients of telecom companies now need services beyond voice and data plans.
Telecom and media mergers are an indicator of the digital disruption that affects the industry. The lines between telcos and media or IT companies are becoming blurry – just take a look at the AT&T purchase of Time Warner in 2016.
One thing is clear: the telecom industry cannot survive on its own. Digital disruption means that telcos need to adapt or perish. They need to improve both the way they deliver services and the type of services they deliver.
This is where software marketplaces come into play.
Telcos have already started using them to boost their sales and improve client retention.
Check out the top 4 benefits of software marketplaces for telcos:
Launch New Services Fast
Apple, Google, HBO or Netflix are part of the everyday life of telco customers. These customers need such services, sometimes even more than they need voice ones.
With the right marketplace, telcos can easily launch new offerings: both cloud / business applications and mere services. By giving access to apps and services their clients love, they guarantee client retention.
Be the One-Stop-Shop Customers Need
The time for standard offers is over. Customers now need personalized packages that cater to their needs. Since no two users are identical, you, as a telco, need to find the way to respond to individual needs without spending a fortune on market analytics.
A software/service marketplace enables you to create bundles that your clients will love. Better yet, the insights provided by a (well-built) marketplace can tell you exactly what the best bundles are and which of them aren’t performing to well.
This is an excellent opportunity for constant improvement. In the telco world, it is crucial to adapt just as fast as your customers’ needs are changing.
Generate New Revenue Streams
With the revenue from voice services decreasing, telcos need to find new ways to become profitable. Once again, adapting is the only choice in an ever-changing market with constant new demands.
A marketplace allows you to offer your customers services they truly want or need. Moreover, this doesn’t just mean client retention. It also means easy upselling and easy generation of new revenue streams. And it’s all perfectly scalable – your marketplace can easily grow along with your telco business.
Get a Unified System and Reduce Backend Work and Menial Tasks
With a software marketplace, telcos can unify CRM, CMS, ERP systems along with billing and accounting. Customer management becomes a breeze and so does accounting and billing.
Even more, unifying all the systems a telco uses allows for more insightful data into buying patterns and habits. This way telecom companies have relevant information to help them create better, more successful products and marketing campaigns.
At Cloudesire, we strongly believe that all companies should learn how to adapt quickly and respond to customer demands better. But we also know that this can be challenging for large corporations like most telecom companies are. In fact, we know this firsthand, having worked with companies like TIM or Fastweb (a Swisscom branch).
This is why our marketplace solution is designed to be the tool telcos can rely on in order to reap all of the above benefits and many others. In a nutshell, it can be said that our solution’s end goal is the same as the telcos’: helping telecom companies (and service providers of any kind) generate more revenue faster and with a minimal investment.