Today’s customers demand a complete digital experience. So, MVNOs need to meet heightened expectations and support end-to-end digital customer lifecycle management. It’s essential – but it isn’t always easy. Find out how you can!
Identify and avoid the risks of transformation, then reap the benefits
As the leading analyst firm, IDC put it in its report, Current Challenges to Creating Business Outcomes Through Digital Transformation[1], “digital transformation has the allure of turning data into insights. DX will help businesses understand customer behaviour and then use that information to shape a better customer experience. Maintenance cycles will be predictive, accounting for information from flow data in real time. Supersets of analytics will uncover trends not apparent to human insight.”
No wonder customer expectations have been raised. To all intents and purposes, IDC is also explaining the underlying reasons why MVNOs are evolving their businesses to become Digital Service Providers. But in this blog, rather than listing only the compelling motivations to make the shift (more about that later!), let’s also look at some of the challenges involved in doing so. Here are five:
1 The revenue challenge
If you’re offering digital services, you can’t afford downtime or latency issues without putting revenue at risk. Digital service models are generally complex and reliant on dynamic environments. This means mitigating risk by putting the right technology in place to ensure that operational challenges don’t result in negative business consequences. This can require overcoming barriers created by legacy systems.
2 The silo challenge
Ensuring 100% service availability (a sine qua non of the digital experience) is an important part of protecting brand reputation. But technology silos within the MVNO can make this difficult to achieve. MVNOs must break down internal silos to drive a holistic service approach that protects end-user experience (as well as revenue).
3 The reputation challenge
In the digital realm where everything happens quickly and dynamically, when things go wrong, they can mushroom fast! So negative customer experience issues can be a serious risk to reputation when exposed through social and national media. Operational control and insight become important elements in preventing churn.
4. The complex environment challenge
Complex network environments and distributed information sources hinder quick and effective responses to operational incidents and can hinder agility and thus the ability to innovate in bringing new services to market. MVNOs must not only deploy platforms that truly enable digital experiences but also reconfigure their teams to manage them.
5 The fragmentation challenge
Silos…complex network architectures…multiple generations of technology overlapping. No wonder MVNO teams sometimes struggle to grasp how a digital service is performing from point of view of the end-user. But to meet customer expectations and provide services efficiently while achieving smooth operation, they must overcome this fragmentation.
There’s a big upside
Challenges, yes, but the reward for overcoming them is enormous. Consider Digital Transformation in numbers.
According to Research and Markets, the global digital transformation market is expected to grow from USD 469.8 Billion in 2020 to USD 1,009.8 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.5%.[2] According to IDC, direct digital transformation investment is expected to reach $7 trillion with a CAGR of 18% from 2020 to 2023 since companies have been building on prevalent investments and strategies and becoming future enterprises that are digital at scale.[3]
And according to the World Economic Forum, $100 trillion is going to be added to the world economy through digital transformation by 2025. Moreover, by 2025, interactions driven by platforms are expected to enable roughly two-thirds of the $100 trillion value at stake from digitalisation.[4] It’s safe to say that as they move towards becoming DSPs, MNOs and MVNOs have much to play for.
How to become a DSP!
For MVNOs seeking a complete, real-time platform to accelerate their digital transformation, Digitalk’s Mobile Cloud should be considered. It helps you target new and niche markets, generating revenue from day one. It enables innovated products and promotions to be created and delivered in real-time, adapting to and meeting the changing demands of customers so the user stays ahead of the competition. It’s a complete solution that users can count on to develop the attractive service propositions that will fast track their way to market and underpin their long-term digital success.
It also, critical in the digital world, enables agility so users can adapt swiftly and easily to changing circumstances and to provide whatever support customers need.
As we’ve seen, when it comes to digital service models there’s a lot to talk about. If you’d like to learn more about how becoming a DSP can boost your MVNO business, please download our paper “Moving to a Digital Services Model”. You’ll learn:
- The digital advantage
- Why agility must be combined with cost control
- How to transition to a digital services delivery model in three steps
- And more!
Download our paper, today.
[1] https://www.splunk.com/en_us/pdfs/resources/analyst-report/current-challenges-to-creating-business-outcomes-through-digital-transformation.pdf
[2] https://www.globenewswire.com/news-release/2020/08/14/2078517/0/en/The-World-s-Digital-Transformation-Industry-2020-2025-Trends-Opportunities-and-Competitive-Landscape.html
[3] https://www.idc.com/getdoc.jsp?containerId=US45569118
[4] https://www.weforum.org/press/2016/01/100-trillion-by-2025-the-digital-dividend-for-society-and-business/
