2023 will demand significant introspection and business transformation within the telco category. With familiar and new forces shaping the agenda for countless Product & Revenue Heads (more on that later), telcos will be left with a red pill/blue pill choice:
1. Focus on designing simple infrastructures and operational excellence? The kind that ultimately prioritise the basics (network) and reduce cost of ownership, or;
2. Ruthlessly pursue service-led excellence? Where products and services are truly personalised, customised and digital-first.
Regardless which they choose, 2023 will see telcos face unfamiliar challenges as well as novel twists on established ones.
Familiar pain points (and new ones)
There are familiar pain points, but there are a growing set of new challenges.
Telco interaction and UX models now feel dated vs. impossibly high (and seamless) standards of new ‘digital native’ companies. Service-delivery and value capture models are being redefined by AI and big data. New entrants are nimbler – their offerings tailored to the few and inherently more bespoke.