Survey: Service Convergence Trends and 3 Growth Strategies for Cable Operators
Double play. Triple play. Quadruple play.
No, we’re not talking about miraculous baseball feats—we’re referring to bundles of fixed, cable, mobile and internet services offered by a single communications service provider (CSP).
This concept of service convergence is shaping the future of telecommunications. According to more than 80% of industry experts surveyed, most broadband and internet services are merging with mobile and fixed services. Cable operators are embracing this wave of innovation to pave the way for a unified and streamlined customer experience. But doing so is easier said than done.
To find out how CSPs are approaching this task, Heavy Reading partnered with CSG to survey 93 North American cable and internet service providers (referred to as “service providers”) regarding service convergence trends and growth strategies. We’re sharing what we learned (and how to take a page out of their playbook):
Related Blog: 6 Best Practices Shaping the Future of Telco CX
Focus on Successful Service Delivery and Greater Network Investment
Effectively delivering a unified customer experience requires taking a strategic approach and prioritizing specific capabilities. Among the most widely suggested strategies from service providers were:
Have a customer-centric focus. Understanding and addressing customer needs is paramount (91% of respondents).
Integrate 5G: Harnessing the power of 5G is crucial for enhanced performance and innovation (89% of respondents).
Offer cloud-based delivery: Embracing cloud-based infrastructure enables agility and scalability (89% of respondents).
Expand your ecosystem: Collaborations and partnerships foster growth and market reach (88% of respondents).
Additional network investment is a prerequisite for success
To support the demands of converged services, additional network investment is essential. Almost all (89%) of the service providers surveyed acknowledged the need for increased network capacity to meet the evolving requirements of customers and technologies.
A Reduced Focus on a Bundled Service Model Is Leading to New Services
A shift from generalized bundled services to specific use case models is gaining momentum. Most (71%) service providers recognize that customers appreciate tailored offerings that address their specific needs and preferences. As consumer options expand, innovative service providers know that allowing customers to build their own bundles, selecting only the services they need, will likely be the norm. This transition, however, will require time and adaptation, as .
