| Tough times can make or break a company, and | | | | lookout for cheaper ways to get what they need, and |
| whether companies make or break it all depends on | | | | so offering cheap alternatives like VoIP (Voice over |
| how prepared they are to deal with economic | | | | Internet Protocol) might prove to be lucrative. This is a |
| downturns. Careful planning and realistic goals have | | | | good time to start looking for new value services to |
| become imperative as economic forecasts have | | | | offer, though telecom companies need to be careful |
| generally been dire. If the world's economy takes | | | | on how their new offerings are perceived. If |
| longer to heal than expected, how will telco companies | | | | consumers see the offering as something they can do |
| keep themselves in the black? | | | | without, the product will probably see dismal sales. |
| There are several ways to survive a dipping economy | | | | Of course, telecom companies should be prepared for |
| and as shown on the SmartCompany Dun & | | | | lower than usual takings, but as market shares go, |
| Bradstreet Industry Growth List for the | | | | having a significant piece of the pie is essential. As |
| telecommunications industry released last March, there | | | | soon as consumers get their purchasing power back, |
| are also ways for companies to capitalize on | | | | patient telcos can expect higher ARPUs (average |
| opportunities that crop up during tough times. A | | | | revenue per user). |
| telecom company can survive the recession and keep | | | | Expand and Broaden the Network: Expanding the |
| itself from being in the red by playing its cards right and | | | | customer base and targeting a chunk of the market |
| having sound plans and back-up plans. | | | | share can be achieved by expanding the networks' |
| Customer Management: To keep revenues from | | | | reach to cover other areas. Telcos should not hesitate |
| sliding, telecom companies should look at ways on how | | | | to tap into infrastructure sharing since that would |
| to keep their current customer bases strong, and how | | | | soften rollout costs and can save money in the long |
| to attract new customers. Of course, the best way to | | | | run. Also, keeping a good sales team is important in |
| keep a solid customer base is to provide good Quality | | | | getting customers. |
| of Service (QoS) and give good value for money. | | | | Efficiency and Cost Effectiveness: Another part of |
| Consumers are more prudent during lean times, and | | | | surviving the storm is keeping a tight ship. For some |
| telcos could definitely cash in on this fact. Good value | | | | companies, this may mean restructuring the |
| is not necessarily the cheapest service in the market, | | | | organization, running efficiency checks, and cutting jobs. |
| but the best service at a reasonable cost. Consumers | | | | Keeping a tight leash over accounts and credit since |
| these days have limited purchasing power and will | | | | telcos these days really can't afford to be lenient in |
| therefore look into having the best value for their | | | | terms of collecting its dues. |
| money. Offering good value and perks (bundled | | | | As with infrastructure sharing, outsourcing may be a |
| services and incentives, among others) are good | | | | good option for telcos tightening their budgets, and it is |
| ways to keep customers from looking at other | | | | a cost effective solution to keeping the holes in the |
| providers. | | | | workforce in check and keeping good quality of |
| Offer New Services, Cheap Alternatives: Customers | | | | service. |
| keeping an eye on their purses will always be on the | | | | |