The challenging macroeconomic environment has everyone thinking about savvy ways to increase revenue, and Communication Service Providers (CSPs) are no different. Instead of leaning on a core product, like offering simple broadband connectivity, many CSPs are looking for ways to leverage new technologies from Wi-Fi 7, 10G to VR and segue into becoming fully fledged digital service providers.
But revenue growth is no easy task. TM forum reports that over the past decade, “revenue growth has proven elusive” for CSPs, and many have turned to cost optimization instead. Unlike betting it all on new revenue streams, by focusing on reducing costs, management see guaranteed results, and so making smart changes to Operational Expenditure (Opex) has flown to the top of the organizational agenda.
Here are 5 ways you can use Veego technology to optimize Opex and achieve business goals, even during a recession.
Network Optimization
How much do you really know about how your network is performing? Subscribers see perfect internet experience as an expectation when they sign with any provider, similar to how 99 percent bandwidth has become the starting line for web hosting. That means that if internet experience is less than perfect, they will quickly look to your competition. Veego provides illuminating insights into the entire home network and all of its connected elements so that CSPs can make targeted decisions about infrastructure, adding visibility into devices, applications, the router or other CPE, and issues beyond the home such as WAN connectivity, cloud, or servers.
Currently, big data analytics has been shown to have significant value for revenue generation and this is exactly where Veego provides value. We support CSPs in making decisions such as when subscriber network upgrades or truck rolls should happen and when problems can be handled remotely or without infrastructure changes, which service degradations are persistent issues that need to be addressed, and when to green light CPE replacements. Operational costs are limited to where they are essential, and you get more satisfied customers to boot.
OTT Services
Want a slice of a $300 billion pie by 2028? That’s Over the Top (OTT) services, a global trend where CSPs expand their offering from legacy voice and data bundles to better serve their subscribers.
Every Telco is already aware that internet can no longer be a USP. That’s why AT&T and Singtel are offering bundles that include gaming or streaming packages for example – dipping their toes into the world of Entertainment Services. Other examples are offering business cloud solutions for those who work from home, or products that leverage 5G technology like IoT devices.
To make this work, you need visibility into how the internet is being used, and by whom. Veego provides a granular view of the way that your subscribers utilize the network, including allowing you to segment users into gamers, streamers, web conferencers, and more. You can then reach out to the right homes with the right offers, showing your users that you know what makes them tick, and opening a direct revenue stream to customers that are most likely to sign on the dotted line.
Understanding Churn Patterns
The days of customers remaining loyal to a single brand in any industry are long gone. According to the latest research, in Telecoms customer loyalty has taken a dive since the pandemic, down 22 percent. Your competition is making it easier than ever for subscribers to move from your services, and yet attracting and acquiring new customers is more expensive than ever. This is why customer experience management is so critical.
Veego supports CSPs in attaining subscriber loyalty in many ways. First up, CSPs can use their subscribers’ contextual data to offer their own advanced self-care capabilities. What is the root cause of service degradation? Where are problems occurring across the customer journey that are causing issues with the specific apps and services the subscriber is engaged with, in real-time?
CSPs can then make this information (and mitigation solutions) available via self-care tools such as mobile apps and customer web portals, as we all know that subscribers would rather listen to the neighbors’ kid practicing recorder than sit on hold to customer care. By giving subscribers control over their own internet experience, they can share responsibility over monitoring the network, and even resolve simple issues autonomously with step by step resolution techniques offered by you as their new favorite service provider.
For CSPs behind the scenes, Veego offers both reactive and proactive support measures by giving a full view of the internet experience in every home. From a single dashboard, you can see which homes are suffering from poor internet performance, and even more importantly – why these problems are occurring. You can segment these homes as those at risk of churn, and then target them specifically to improve their quality of experience. If coverage is poor, you can send them a Wi-Fi extender, or if too many devices are accessing the same channel, you can implement channel switching. The sky’s the limit.
Personalized Outreach
By combining the techniques we’ve discussed so far, CSPs can do a lot more with their data. As well as isolating the homes on the verge of churn, additional segments can be identified to allow you to provide truly personalized experiences for the end user.
At Veego, part of making personalization happen is leaning on our advanced Device ID and App ID technologies. After all, just because subscribers are signed up to the same data package, it doesn’t mean they use the web in the same way. One home might mainly use the internet for streaming content on Netflix or Hulu, while another only watches their vast DVD collection, and relies on the web for working from home.
Our technology identifies devices by type, make and model, and can differentiate between even similar applications and their usage, such as knowing whether a user is listening to music on Spotify or YouTube. Cherry on the cake? Our technology is pattern-based, which means it doesn’t rely on Deep Packet Inspection (DPI), an outdated, legacy approach that is problematic for privacy, and insufficient for achieving true visibility.
By recognizing exactly how subscribers are interacting with internet services, your teams know what would make their day. Which OTT bundles will suit each home, and how can you show your users you understand their needs to improve LTV? It starts here.
Improve Operational Efficiencies
Ultimately, whether there is a recession or not, every decision you make needs to come back to efficiency. How can you be sure that you’re not wasting budget, and that you’re making smart decisions?
Veego allows every decision to become a data-driven one, and provides answers to questions such as:
# What is the true root cause of this customer complaint?
# Is sending out a technician the right call in this scenario?
# Should I be authorizing an infrastructure upgrade?
Support teams can use the Veego dashboard to become more efficient, even new joiners to the team who may have less experience with customer care or technical support (critical in a growing skills gap economy). Watch your Average Handling Time (AHT) numbers drop, and your First Call Resolution (FCR) stats jump, and take that data to the board to show them that support costs and network investments are being handled with care and precision.
At Veego, Optimizing Opex is About Leveraging the Full Picture
When new direct revenues are hard to come by, cost optimizations can make all the difference to a savvy CSPs’ bottom line. By utilizing Veego’s cutting-edge analytics platform, CSPs gain access to complete network intelligence over everything from the server and WAN, to CPE, LAN and end-device, as well as the insight into subscriber behavior that makes all the difference when looking to personalize at scale. As well as reducing costs, these changes lead to improved customer satisfaction, which is the very seed of revenue growth!
By Amir Kotler, CEO & Co-Founder of Veego Inc
About the Author
Amir Kotler is the CEO and Co-Founder of Veego, a hi-tech company with the mission to improve and personalize online experiences in the connected home. The company’s platform helps CSPs move from generic customer care to intelligence-driven proactive and reactive support. Learn more at Veego.
