Exchanging knowledge from 15 global markets we were left with a clear picture of the need for telco brands to drive towards greater differentiation, meaning and consumer centricity. And in so doing ensure they retain consumer relevance.
Price competition and commoditisation remain critical issues. Being all things to all people from a positioning and product perspective might have its up sides from an acquisition perspective, but the lack of stickiness for brands inevitably means it’s an expensive strategy.
How many telco brand owners could (hand on heart) say that they have a meaningful and distinct market proposition backed by a strong perspective about what they stand for in the market? Very few one suspects.
Why not focus for effect, excelling in fewer core areas rather than providing a plethora of average offerings?
How about being a champion for causes relevant to consumer’s lives, excelling as a responsible corporate citizen?
Offer a distinct point of view?
Or acknowledge and leverage consumer power instead of restricting it?
Many telco brands have found themselves creating cynicism, distrust and disconnection simply because they fail to recognise consumer demand and seem intent on leading the consumer rather than embracing consumer input.
None too radical you’d have thought but there’s currently a real dearth of brands achieving this with any great consistency.
Somewhat ironically, the sector is crying out for more innovation. But not innovation of the tech led variety necessarily. Just the guts to dare to be different and lead consumers with a more relevant, more distinctive brand proposition that justifies their role in our lives.
Click here for a summary version of the summit output or feel free to get in touch if you'd like us to take you through the trends and observations in full
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