Five ways to put your efforts into action
1. Rethink traditional assumptions
In a world where the role of connectivity and home content consumption is changing, traditional assumptions about customer behaviors do not tell the full story. For internet, some segments value control, whereas others value service reliability. For video, traditional TV might still be relevant for some segments, but others see streaming as their defacto TV service, which is not a cheaper alternative.
TMT providers must continue adopting a client- and segment-driven approach, rejecting generalizations and instead reshaping their products and services to align with differing demands.
2. Focus on simplicity
Customers are already drowning in complexity in terms of connectivity and content options. Take, for example, the number of options for streaming in the market. Customer frustrations often reside in their perceptions and expectations of products and services.
Simple and intuitive value propositions are essential if TMT providers are to gain a larger share of customer spend in the future.
3. Keep customer focus, at all times
Even if not a new topic, customer service is still at the foundation of the digital home, and TMT providers should continue to invest in customer service excellence. In a hyper-connected world, a single bad experience echoes across the whole customer base. We should assume the same for positive experiences. TMT providers must find the right balance between automation and technology to offer best in class human interactions that can drive the company’s values and message to the market.
4. Prioritize building trust through privacy foundations: envision a new range of products and services in this category
Privacy is clearly a hot topic. Organizations must be mindful of the way they collect and use data and the way they articulate this to customers. However, privacy brings interesting monetization and differentiation opportunities that internet service providers could capitalize on as well.
Privacy will be a huge area of play in the upcoming years. The TMT providers that can most ffectively build trust and reassure customers will ultimately gain competitive advantage and revenue uplift in the long term.
5. Leverage legitimacy to pre-empt adjacent areas in smart home, security and IoT at home
Smart home and security needs are real, and we see them across every segment in this study. TMT providers are at the center of opportunity in a market that is still fragmented and lacks robust standards. A compelling value proposition that combines hardware, applications and services could further build the case for a real opportunity in the market.