Digital Service Platform as a Revenue-Generating Model for Telcos
Greetings, fellow innovators and tech enthusiasts!
Recently, I was honored to be among the speakers at XCHANGING IDEAS #43 Global 5G Evolution webinar. Standing in line with top business leaders from the US, UK, Germany, Malaysia, and Hong Kong, I shed light on the digital service platform as a proven revenue-generating model for telcos in 2024 and beyond.
If you missed the webinar, don't worry. I aim to distill the key insights to show you how digital service platforms can drive profitability and transformation. Read on for more details!
New service delivery: the perennial telcos struggle
Despite all the threats of becoming the Internet pipeline, telco operators remain an essential gateway to the consumer. Innovations allow businesses to analyze consumer behavior to gain insights about needs and expectations, as well as opt for data-driven service development strategies.
Most telecom enterprises adopted a data-first approach as it seems to be the relevant solution to satisfy the dynamic demand. However, some connectivity providers still struggle to generate more revenue from new services in a high-competition market.
Operators should provide third-party services to consumers
For the users, taking a new offer from an already-known provider would be an easier choice. Also, the operator's marketing team builds its vision of the consumer experience, which touches not only telco products of its own but also any other offer that is safe and easy to take.
The operator pre-selects the proper partners and combines them with its products and services. For some third-party services, it could be a good idea to sell them under their wrap and packaging.
Why Digital Service Platforms and why now?
Reason 1. More client-centric services
Digital Service Platforms offer a bunch of digital services to the end customers, which are not 100% provided by the operator itself. Still, they all create a valuable ecosystem with the partner businesses to benefit the end customer.
Reason 2. Consolidated pool of information
Digital Service Platforms allow the collection and system of all the customer data in one place and orchestrate it with less effort. If we properly analyze user events and apply less traditional ways to define micro-segments, the service could match the offering to the proper audience. When using ML for segmentation, the process could require limited human resources.
Reason 3. Immediate reaction
Real-life example
People hate waiting, so any digital product is expected to be brought right away. It demands a proper Product and Service catalog, low-latency service orchestration, and strict SLAs for third parties. Digital service platforms help overcome these challenges and make your reaction to a client's behavior immediate to drive revenue.
A digital service platform for a lightning-fast service development cycle
A good digital service platform, like the XME.fast code platform, enables the operators to integrate new services, not in 6 to 9 months but in weeks! By exposing open API to the partners, sometimes in even days and hours.
Same as for any internal products, there should be a fast way to make a market test of the idea for cheap. I remember how many clever ideas of the marketing team, tightly focused on a small specific niche, were not implemented because of the unsatisfactory ROI.
A good Digital Service platform lowers costs by utilizing either easier customization, low-code capabilities, or both approaches.
Final thoughts
See how the XME.fast code platform enhances each service in your development pipeline!
Contact us to explore how to launch client-centric services in weeks, achieving high ROI and better client satisfaction.