Telecoms must reach out to next generation of customers: CTS keynote

MISSISSAUGA, Ont.--There is a disconnect between telecom providers and their clientele that is only going to become worse as younger generations become adopters, the Canadian Telecom Summit was told Monday. Ragu Masilamany is the general manager and global head of solutions engineering and labs for Amdocs Technology. He delivered the closing keynote speech on the first day of the three-day confab. The challenge is looking at capital expenditure growth versus revenue growth. “They’re not catching up with each other, to put it mildly,” he told the Wire Report in an interview. The difficulty is how to create products that are relatable for the upcoming generation of consumers. The phone makes a difference, the connection does not. Suppliers and their customers often have differing views of service. A survey done by Amdocs of telecom executives across the world found that 65 to 70 per cent thought they had all the tools their clients needed to interact with them. When the question was posed to consumers, only 25 per cent agreed. That won’t get any better when the children of today’s market grow up, Masilamany noted. “Ninety per cent of next generation consumers, the Gen Zs, will leave your brand if they have a maximum of two bad experiences with your brand,” he stated. By the same token, that generation will pay up to 15 per cent more to a telecom provider who meets their needs, he added. Telecoms will have to migrate to a full digital package to service those clients. The Amdocs executive pointed to the hassle of moving homes. It requires the removal of a router, a truck roll by a technician and various other irritants for customers. As telecom heads into the future, that will move to an online experience. Masilamany said telecoms in Japan, South Korea, Singapore and the Middle East are far ahead of their North American counterparts in advancing to the next level of marketing. Companies here have to recognize that they have to get with the times. “It’s about rebranding the whole business,” he told the Wire Report. Telecoms will have to open up their networks for non-traditional revenue streams. The experience with COVID, which changed workplace patterns and shopping habits, serves as an illustration of how readily customers will adapt to the new parameters of connectivity. He compared the future business models of telecoms to discount airlines. They will provide basic service and then charge for whatever extras the passengers want. Telecoms would be well advised to pursue a similar course. –Reporting by Paul Park at ppark@thewirereport.ca and editing by Jenna Cocullo at jcocullo@thewirereport.ca

Telecoms must reach out to next generation of customers: CTS keynote

News | November 6, 2023

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Telecoms must reach out to next generation of customers: CTS keynote

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