Telecom Industry is the outcome of human compulsion to communicate. It has proven its power to radically transform human interactions globally. Contemporary life revolves around telecommunications technology. The Telecommunication Industry's global revenue was $3.9 trillion in 2009 and is expected to rise to $4.03 trillion by the end of year 2010. The global service revenue of the industry was estimated to be $1.7 trillion in 2008, and is expected to touch $2.7 trillion by 2013.
One of the fastest growing sectors, it even outperforms industries like Software and Services, Pharmaceutical, IT Hardware, and Semiconductor markets. The worldwide mobile market recorded the highest year-on-year revenue growth (23.1 percent) and analysts predict that by the end of 2010, worldwide mobile subscribers will exceed 5.25 billion. By end-2015, worldwide mobile subscriptions are expected to exceed 7 billion and a majority of the subscribers will be using 3G services.
Advanced networks, attractive tariff plans, affordable handsets, the availability of enhanced data services such as mobile apps, mobile payments and high-speed mobile Internet are some of the factors that are driving growth in the telecom market.
These trends bring a sense of positivity to the industry but are also causing anguish among individual players. One of the causes of worry is that subscribers today have wide choices to choose from. Number portability has also accentuated the pain. In the battle to retain subscribers for longer periods of time and increase ARPU, Telecom companies are discovering the power of loyalty programs. While some needs of telecom companies are specific, most of the underlying processes overlap with similar programs operating in other industries.
As pioneers in enterprise loyalty implementation, we are expanding our loyalty footprint into multiple industry verticals including telecom. We are working with prominent players in the industry to understand its nuances and create loyalty solutions specifically keeping their requirements in mind.
If you would like us to undertake a study of your company and recommend a suitable loyalty solution, please feel free to write to us at contactus@itcinfotech.com.
Maximize customer retention,
especially high value customers,
to increase revenues
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