“I am a utility”
The first step to addressing a problem is to admit you have a problem. Telco has an innovation problem, with many CSPs being utility providers of connectivity, even if many don’t want to acknowledge this.
“Do you have any good examples of how new business models can be achieved?”
In our recent webinar one of the easiest, and yet most difficult questions, was on how to achieve new business models for telcos. Easy in the sense that telcos need to innovate more, difficult in the sense that successful innovation is fundamentally about culture change
Fail fast and fail often
Innovation in Telco is too often pigeon holed in POCs and catalysts at trade shows. Very exciting ideas for products are demonstrated, but with no obvious path to being used/trialed and more importantly succeeding or failing with customers.Telco needs to desperately find a way to engage with customers beyond simply billing minutes.
Telco has innovated before and needs to again.
You just need to see the impact of mobile money or further back prepaid billing to understand that Telco is capable of innovating new business models. Whilst the current Covid19 emergency is a worldwide disaster, telcos actually find themselves in a position of opportunity from this. Communications and connectivity are now key needs. Can CSPs find away of turning this new customer relationship into more than higher commodity bandwidth?
A vision for Telco in 2030
Our recent webinar and accompanying report are available from Appledore. Follow us on LinkedIn Appledore Research and send an email to info@appledorerg.com to receive the report and access to the webinar recording.