Thriving in the Communications Industry

In the last five years alone, the communications industry has seen significant changes in the way its providers do business. A tremendous push for a share in the marketplace has led operators to focus on marketing strategies that not only target new business, but also focus on customer retention and effective up-selling techniques. This shift in making marketing a primary business focus is seen across the industry and has led many providers into uncharted waters.

Changes in industry funding has also shared the spotlight as providers found a trending shift away from being an "average schedule" company to a "cost" company. Along with this migration, many have been forced to increase ROI by reducing overhead and effectively managing expenses through areas like decreased truck rolls and system integration. The idea of 'doing more with less' has become a common theme for many providers.

If that weren't enough change, the movement away from traditional landline phones to wireless and VoIP services have caused not only a loss of revenue but also a loss of funding assistance through NECA Pooling. When coupled with decreased access charges due to phantom traffic, the demand placed on reducing avoidable revenue leakage is greater than ever.

Voiced at industry events like NTCA, OPASTCO and NECA, these hurdles can be combated by focusing on 3 opportunities designed to help you thrive in this changing industry. Here's how!

Opportunity #1: Advanced Marketing Strategies (New Market Penetration, Effective Up-selling & Customer Retention) Getting in front of your customers with the right message is one of the toughest challenges your company and marketing department will face. Not only do you have to reach new and existing customers across all generations and mediums, but you must do it all on a limited budget. Is this even possible without the magic of a fairy tale? Of course! Just tap your shoes together and say "Target Marketing, Target Marketing, Target Marketing... Read more

Opportunity #2: Realistic Cost Containment With the technological advancements available today, the demand for tighter cost containment is surging. Auditors are pressuring for system integration to meet USAC Audit and SOX compliancy while the board is commanding to keep expenses down. Having the proper tools in place without a major capital expense may be hard to come by, but not unrealistic. The opportunity lies in optimizing system integration. Read more

	Opportunity #3: Proactive Revenue Assurance Studies show many communication companies are less than 100% confident about their Revenue Assurance strategies. Although some assume revenue leakage to be less than 1%, how can you be sure what is and what isn't accounted for without proper monitoring? A proactive Revenue Assurance strategy might be able to save you more than you think. Read more