The pace of change in the Telecommunications industry over the last few years has been significant and it’s not slowing down anytime soon. With the increase in usage of smartphones and other mobile devices, consumers demand superior product packages and exceptional service.

The telecom industry has always been in a state of constant reinvention ever since the Telecommunications Act of 1996. Other major events, such as the telecom bubble burst of the early 2000s and the decline of the landline phone, kept the industry on its toes as telephone and Internet services became increasingly crucial to consumers. The rise of mobile technology and smart electronics drives customer demand and modern businesses must be prepared to answer questions and provide seamless performance.

Due to rapid changes and other factors, telecommunication companies aren’t very popular with consumers. A University of Michigan Consumer Satisfaction Index found Internet Providers and Subscription TV Services have the lowest consumer scores of any industry. Wireless companies are also on the low end of the scale but consumer satisfaction has increased 2.6% year-over-year during the time of the study.

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2016 Global telecom revenue projected to be around $1.2 Trillion USD.

The global telecom IT services market to grow from $67.38 billion in 2014 to $233.05 billion in 2019.

Worldwide Telecommunications Spending (ICT): 5.6 Trillion US$ in 2015.

Employment in the Telecommunications Industry, U.S.: 866.3 Thousand May 2015.

Smartphone ownership in the U.S. increased from 35% to 64% between 2011 and 2015.

90% of smartphone users also access the Internet through traditional broadband service or other means at home.

Only 63% of consumers are satisfied with their Internet Service Provider. Subscription TV Services and Wireless Companies scored 65% and 72% respectively.

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*source - Multiple Industry Reports and Online Resources

Did You Know:

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U.S. companies lose $41 billion due to poor customer service yearly.

66% of consumers leave brands for competitors because of bad service experience.

Churn rates for wireless providers are about 2% to 2.5% per month on average.

In 2015, 21% of Internet Service consumers said they experienced at least one instance of poor consumer service over a six-month period. 20% of TV Service and Wireless Carrier customers said the same.

Companies that recovered poorly after bad customer service experience lost 2.5 times as many sales as companies that didn’t.

50% of consumers use companies more often if they feature excellent customer service.

86% of customers will pay more for services if they receive superior care - sometimes up to 25% more.

A 10% increase in customer satisfaction scores can lead to a 12% growth in reported consumer trust.

In 2015, The Federal Communications Commission streamlined the consumer complaint process for Internet, phone and television problems.

Telecom operators are under high pressure in today’s business climate. With such rapid shifts in technology, small steps toward digitization are not enough. The industry is facing soaring customer expectations and increases in innovative competitors.

The survival of any business is based on its ability to reduce churn by retaining customers. This means providing better products, superior delivery methods, lower prices, satisfactory customer relationships, improved marketing and, above all, successful customer communications. While price and product are important, customer service and satisfaction is paramount in today’s world.

Providing service for tech-savvy consumers means being ready to answer calls, texts and messages on the platforms consumers prefer. Not only do customers use convenient technology to voice comments and concerns, a mobile world prioritizes speed and simplicity.

Telecommunication companies need care agents ready to respond to consumers coming from all directions and settle inquiries with first-call resolutions. This requires customer care center technology ready to monitor and manage multiple channels and representatives with the soft skills necessary to turn small problems into satisfaction and ongoing loyalty.

Knoah is recognized as a leading global provider of BPO and Contact Center Outsourcing Services by such bodies as the International Association of Outsourcing Professionals (IAOP). We provide comparable services with the same outstanding results, yet because of our size, we can offer more flexible, responsive interactions with our clients, providing a much more effective partnership. As a leading provider of Business Process Outsourcing, we deliver customer-facing services that include voice, email, chat and social media support, as well as non-customer-facing services such as data/order entry and 3rd Party Quality Assurance services.

We’ve helped clients maintain year-over-year J.D. Power & Associates Call Center Recognition for Outstanding Customer Service Experience.

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*source - Multiple Industry Reports and Online Resources

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About Knoah:Whether you’re a Fortune 500 company or an SMB, Knoah Solutions’ global BPO services create memorable experiences that matter to your brand. Our customizable and flexible, multichannel solutions help you meet the needs and challenges of each of your customers through voice, chat, email and social media to our award-winning TotalAssure QA third-party call monitoring solution; all powered by our proprietary WFO tool, KnoahsARK. Knoah has the adaptability that big companies can’t provide and a level of competency and scale that smaller companies can’t deliver on. Knoah’s innovative and consultative approach has repeatedly earned us awards and recognition from independent review bodies like IAOP.

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