Strategic Growth Product Turnaround Strategy for Large Telco
Context
Two of the client’s strategic growth products were not performing as expected. One was still leading the market, but continued to rapidly lose market share over the last several years. The other was not getting the expected customer take-up due to disruptive alternatives. The client desired an alternative, independent go-to-market strategy to drive increased customer acquisition and retention. This strategy covered business model, operating model, network and IT architecture, and regulatory framework.
ACTION
The approach to the engagement involved gaining independent industry insight, as well as client baseline insight. Industry benchmarking and competitive assessment activities were undertaken to provide key leading practice and competitive intelligence input. A voice of customer (VoC) activity provided useful insight into segment-specific customer acquisition and retention levers, as well as provided a view of how well the client was performing (i.e. customer sentiment). A current state assessment, combined with a voice of business (VoB) activity, created an independent picture of the client’s as-is business. Design thinking sessions enabled independent hypotheses to be tested and valuable inputs to be obtained in a creative manner.
RESULT
The resultant, five-year transformation plan generated hundreds of millions in incremental revenues, hundreds of millions in incremental cost savings, and a 50% reduction in customer complaints. The payback period was 18 months.