Telcos and SMEs – a rich opportunity but how do you really capture this market?
Recent research shows how telcos have struggled to gain ground with SME customers – but also highlights the massive opportunity this market represents. What do you need to do to succeed with SME customers?
Why target SMEs? Because there are so many of them.
For many years, telcos have been aware of the rich promise represented by the SME market. After all, as TelecomTV.com reminds us in a recent report – citing a new publication from analyst and consulting firm Omdia - 99% of the world’s businesses are SMEs. Despite this, most CSPs have long focused on the enterprise market.
Yes, this represents a significant concentration of capital, but this focus has meant that many telcos have neglected the SME or have failed to understand the needs of such customers. Today, with 5G coming, the same telcos are wondering how they can target SMEs, but they need to learn from the past:
“CSPs have failed to successfully crack the SME market because, in most cases over the years, they have used the same go-to-market strategies as they have for the large enterprise market, with sales teams/reps, or have tried channel partnerships, which are hard to manage.”
SMEs are not the same – and 5G will bring increasingly diverse requirements
It’s becoming increasingly clear that the SME market cannot simply be viewed as a uniform opportunity though. There are all sorts of niches and specialisations, which means that telcos will have to consider vertical needs and requirements.
To deliver relevant solutions and to cater for these diverse requirements, an ecosystem of partners must be established. And, to address the market at the requisite scale cost-effectively, telcos will need to change their systems and processes, as the report notes:
“So, surely, to address the SME market, isn’t a more automated, self-service, digital platform the way to address a very large market with varying needs? For telcos, an online portal that provides multiple, flexible options for customers could be the silver bullet for the SME market and now, more than ever, those potential customers are more likely to buy into that kind of engagement model.”
Find out how your peers have succeeded with SMEs
Well, yes. That’s absolutely correct. The surprising thing, to us at least, is that this is not new. Our customers have been able to succeed with SMEs for years – largely through just such self-service digital platforms and the inclusion of relevant, optimised offers. Take our friends at Dipper, for example. They offer a range of services, including a mobile office solution, based on our platform, that provides both a personal and customised experience for SME (and SoHo) customers), but which is available through digital, online channels.
It’s a model that has brought success in the hyper-competitive Nordic market and which has allowed Dipper to carve out its own niche. And, it’s a model that provides a template for the proposal above – whether for 5G services or for any other mobile communications solutions.
The point is that this works. There is a proven path to success that can help telcos realise their ambitions with SME customers. So, if you are thinking about new SME opportunities, you should really have a chat with our team.
We’ve shown, time and time again, how to support our partners and to enable them to succeed in a market that offers huge potential. As you gear up for a newly diversified world enabled by 5G, you need to start on the right path. We can help you achieve this, so why not find out how to succeed with SMEs?