Transformation key for telcos to survive, new research argues

Recent research carried by The BIO Agency argued that transformation is the key for telco companies to continue to exist or they will be overtaken by new entrants in the market.

For the research, The BIO Agency polled 1500 residents of the UK and found that customers consider their Telco provider to be nothing more than a utility firm and their decision to stick to the same provider is a result of apathy and not consumer loyalty. According to the research, even if 76.6% of respondents are not free to change their telco provider given a chance, the fact remains that only 27% are likely to recommend their providers to near ones.

It was also revealed that 72.6% of respondents did not express any interest in changing their provider to a technology firm such as Google or Apple. Meanwhile, 37.4% of respondents consider their conversations with their Telco providers to be neither good not bad and for 64% there is a hair line or no difference between Telcos.

The research concluded that there is a need for considerable work among telcos to attract fully engaged customer loyalty. Justin Small, chief strategy officer, The BIO Agency, said: “Telcos need to transform to survive. The key differentiator is customer experience. Those who build new services around the customer will find themselves best positioned for success.”

Meanwhile, another Bio Agency research report found that making a direct call to the call centre is the most preferable option to solve broadband related issues. The research, conducted among 300 plus Irish citizens, found 61% of individuals called their broadband service provider for any issue, followed by web chat, preferred by 20%.

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