Telecommunication industry has evolved during recent years. Initially there was only landline connection that worked with metal wire connection. With advance in technology, the landline connections were converted to mobile connections.
These mobile connections were merged with internet services and gave rise to smartphones. Today more than 90% of the population use smartphones. It is very clear that the telecommunication field has faced good revolution and it is getting partnered with several corporate companies.
The Rise of OTT Industry
Millennials and gen z are the major group that uses OTT platforms. Each day, for more than 10 hours online contents were being watched by Gen Z people. There are several more reasons that has skyrocketed OTT industry.
The primary reason is user is allowed to access limitless content. There will not be any ad, interrupting the video. Netflix is one of the best OTT solution providers that offers high quality content and gives excellent user experience.
The Need of OTT Apps in Telecommunication Sector
For better customer engagement, OTT can be of great support to telecom industry. Building an own OTT app will be more beneficial. The technology advancement has put telecom industry in a tough position as it has already started losing revenue.
The telecommunication department has lost $54 billion in their messaging services due to the increase of many technology-focused messaging apps. This loss can be compensated only by joining hands with OTT industry.
Measures to be Taken by Telecommunication Service Providers
The current situation is quite alarming and telecommunication Service Providers (TCP) need to take some effective measures to overcome the situation in a better way.
- Partnering with the Existing OTT Platform
This is the most reliable option where the OTT platform and the TSP will both be benefited. By partnering with the existing platform, the TSP can make use of the OTT customers to reach their services. This will increase their traffic and results in better ROI. One thing we should accept that TCP cannot control the OTT by partnering with them.
- Adapting to Advanced Technologies
Few of them are for telecommunication industry like 4G and 5G. TCPs have already implemented 4G in their network services and have gained tremendous response from their customers. Now this is the right time to get adopted to latest technologies that will gain customer attention and will increase the revenue.
- Build Own OTT Service
Partnering with the existing OTT platform is one option and building an own platform is another option. The latter has more authority over the OTT service than the former. Users will get all their demands be satisfied by subscribing the TCP alone. TCPs can retain their customers and can also get more new customers in their platform.
Opportunities for Telecommunication with Branded OTT
- Greater Reach: TCP can get audience from all part of the world and can be branded easily. There are certain countries that doesn’t allow to view all content of the OTT. In that case, one can go for the best IPTV service provider that will let to watch all content without any restriction.
- OTT as a Marketing Tool: Many TSPs today use OTT as their marketing tool that will attract more traffic to their platform and will give them better profit. Many leading TCPs post ads having celebrity using OTT platform while roaming. This is a marketing technique that will get better branding.
- Gain Customer Credibility: One can grow in business only when the customers are happy with the service and when they rely on the brand. This is possible when TSP offers OTT services along with its functions. Customers will get all under one roof and they can just pay once for the entire feature and can access all functionalities.
- Offering On-Demand Services: Every TSP will possess huge customer base. By using these data, TSP can easily analyze what exactly their customer wants and can deliver services accordingly. Through Analytics, they can get better insights and can give more personalized on-demand services that will escalates the satisfaction level of their customers.
- Expanding Features: Already every TSP will have their own features and functionalities. Now they can expand their features like having stickers, live chats, BOT services, Smart ads, and many more. This will eventually increase their user experience and the platform will gain better attention from the audience.
- Be More Competitive: There are more TCPs in the market and the competition is quite unbeatable. To standalone in the market, you need to possess additional value-added services that will attract subscribers from your competitor’s network.
- Ease of Billing: Customers can pay their OTT bills while paying their phone bills. There is no need to pay separately. This is more convenient for users who reside in places where credit cards and bank account payments are low.
Conclusion:
Consumer behavior keeps changing often and we need to get in pace. The telecommunication industry should understand the digital evolution and should make use of the technology to retain subscribers by all means.