Three things that telcos must do for a bright future

If telcos are going to thrive in the?post-pandemic world, they?must?find ways to?do more with less.??

Telcos are?under?increasing pressure to cut costs?and?improve?their customer experience.?And to make things even more complicated,?the pandemic has?upended?retail models.?Customers?have come to rely on digital shopping options.?And while retail stores?have taken a hit, they’re still a key?touchpoint?-?albeit an expensive one.?

To thrive, telcos must?find a way to?increase their?retail presence?while being cost-conscious at the same time.?Impossible? No!?Simply put, telcos need to pull the plug on?the traditional?store?model?and diversify their channel strategy.??

Here are the top three things that telcos must implement now to boost?their?brand visibility and customer experience for a fraction of the cost:?

1) Make Your Stores ‘Frictionless’?

If the pandemic taught us anything,?retail stores?can’t stay the same. With their large footprints, traditional stores are expensive to run. But they can’t?just?disappear either; they’re still an important part of many journeys?(especially?omnichannel ones).??

The?retail store of the future?must be frictionless?–?i.e.,?use smart design and technology to?provide an efficient?customer experience?in small?footprint.?The result? A fully functional store that?can serve the same number of customers in half the space. Now?that’s what I call a win-win!??

You can see this concept in action at?T-Mobile’s mini store (only 22 square metres) in the Riverside Shopping Centre in Vienna. This?store exclusively features best selling products and?only?cashless transactions?are accepted.?All transactions are completed from?a tablet, eliminating the need for cash registers?so there’s room for?extra staff on the floor.??

T-Mobile’s mini store in Austria – read more here.

These?mini stores?also?include?collection lockers where customers can?collect?the products that they ordered online.??

In short,?a frictionless store combines omnichannel and self-service solutions to offer a focused customer experience within a small retail space.??

This strategy helps telcos increase their brand presence?while?divesting?themselves?from?expensive?brick-and-mortar?locations. Let that sink?in! Amazing, isn’t it??

2) Implement?Self-Service Kiosks?

Self-Service?Kiosks?let you?increase your points of presence in a?cost-effective?way?– no retail stores required here!?Kiosks can handle simple transactions (bill payments and top ups) or?can even act as a micro store that dispenses devices and accessories.??

Kiosks can be set up within your retail stores to complement your frictionless customer experience and make stores?even?more efficient.?Or, they can be?installed further afield in?high traffic areas, such as grocery stores or shopping malls,?to?get your brand?in front of large groups of people.??

Maplewave kiosks?implemented?at?GTT?Guyana – read more here:

We?will soon see?telcos?replacing?whole?retail stores?with kiosks! This?will?let?them?maintain?their?brand?presence in strategic locations for a?minimal investment?while eliminating?the?expenses of operating a retail store!??

3) Invest In An?Indirect App??

Indirect channels?(also known as?third-party, dealer, massive, or non-exclusive?channels)?help telcos?dramatically?expand their?distribution power?at a low cost.?These teams?of?sales agents bring?in significant revenue without?requiring?heavy investments?in retail stores.?That said,?indirect channels are?notoriously?difficult to manage without the right tools in place.??

Historically, telcos had minimal?control?and visibility over?channel?activities.?By implementing a standardized, connected sales app, telcos can see real-time metrics,?show real-time?commissions?– even geo-target promotions and challenges?for some?healthy competition.??

A university pop-up event run by Vodafone Egypt.?

A?smartly designed?app makes?life easier for?your dealers and gives them an incentive to recommend your products over others.?And?as a bonus,?your customers will benefit?from the seamless experience too.?Take care of your dealers, and they will take care of your customers!???

Wrap Up?

Telcos who can champion these three steps will inevitably set themselves up for success. Now, you know I can never stop talking about telco and retail, but I’ll stop for your sake and give you a moment to think about it.??

As always, feel free to shoot me a message?and I’ll be glad to answer your questions.???

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