Unprecedented technological advancement has propelled communication service providers (CSPs) into an era of immense opportunity. Those that place customers, data, and agility at the center of their strategies are able to compete successfully in a digital economy by operating in what can be called “digital time.”
Digital time is a fluid and evolving concept. It emerges as new ideas, innovations, and services use technology to meet customer needs more intelligently and efficiently. Businesses and entrepreneurs who understand the value of digital time are leading this shift, asking questions like “Why?” and “Why not?” to drive simplification, automation, and augmentation. These leaders rewrite rules and expand what’s possible across industries, adopting flexible definitions of customers, critical moments, and windows of opportunity.
When speed alone is not enough
CSPs face declining revenues from traditional services and must find ways to increase customer mindshare and wallet share. While customers are seeking fresh, bold, and differentiated offerings, focusing only on how quickly those services reach the market is insufficient. Speed matters, but agility is the true differentiator. Without agility, accelerating time-to-market simply produces the same outdated ideas more quickly.
Data and agility are deeply linked. Most CSPs sit on a wealth of customer and operational data. To turn that data into advantage, providers must be proactive, reactive, creative, and innovative. A data-driven decision process enables CSPs to convert insights into actions, predictions into personalization, and information into better customer experiences. This must occur within a framework that enhances the intelligence of both people and technology—a holistic approach often referred to as connected intelligence.
In practice, however, many CSPs fall short. Data only becomes meaningful when organizations close the loop—continually validating, learning, and acting on insights. Legacy systems and siloed teams or tools prevent that loop from functioning effectively. Digital leaders mitigate these risks by using analytics to act with agility and by ensuring systems, processes, and people work together.
Culture is the critical caveat
Culture often stands in the way of change. According to recent industry research, a substantial portion of organizations still struggle with resistance to change. CSPs that embrace cultural transformation recognize it as essential to fostering a bold, learning-oriented mindset, but meaningful cultural change does not happen overnight.
One common pitfall during digital transformation is blaming technology for failures, rather than addressing the interconnected roles of technology, data, and people. Real progress requires empathy with customers—understanding their experiences and challenges firsthand. Only by stepping into customers’ shoes can CSPs identify and solve the right problems.
Many CSP cultures are still shifting from traditional top-down models, but workforce demographics are changing rapidly. With millennials now outnumbering baby boomers and moving into leadership positions, organizations are likely to see transformation driven from within. The presence of multiple generations in the workforce also brings new expectations and opportunities for innovation.
Assuming a CSP’s culture is evolving, agility is being cultivated, and data is being harnessed, one more element remains crucial to operating effectively in digital time: partnerships.
Except for a few webscale companies, few organizations can internally acquire all the capabilities, skills, systems, and innovations needed to compete in global markets. Strategic alliances and partnerships will be vital for CSPs to create value in a complex competitive landscape that includes media and entertainment companies, webscale players, established IT firms, software vendors, and fast-growing startups.
Some CSPs will diversify, enter new markets, and build their own ecosystems. Trusted by customers, CSPs have a strong foundation to expand from, but many are not yet associated with compelling value-added services. The next step is to deliver experiences that inspire a genuine “wow” from customers—demonstrating new ways technology can improve both everyday life and business outcomes.
That is the essence of digital time for customers: services that are intuitive, immediate, and intelligent, designed to save time and increase productivity. When CSPs deliver genuinely novel and useful experiences, customers respond with surprise and delight—thinking, “Oh wow, I can get this from my CSP.” Turning that reaction into the expected norm is the opportunity and challenge for today’s providers.
Interested in hearing industry leaders discuss topics like these? Attend industry events that bring together experts on emerging technologies, IoT, blockchain, AI and big data, cybersecurity, and cloud to learn more about how to build the capabilities needed for digital time.