A projected 3.4% contraction YoY in telecom industry revenue doesn’t sound like much, but the COVID-19 pandemic is expected to cause a $40 billion hit. And while analysts are quick to point to shuttered businesses and general economic slowdown as the main culprit, we’ve got quite a different take.
Consumer services, long considered to be quite resilient and accounting for nearly 70% of industry revenue, are beginning to show cracks in the foundation. Oddly enough, this is happening when more consumers than ever are relying on home internet and cable for work. So TechSee, a leader in AI-driven visual assistance serving Verizon, Vodafone, Sky, Virgin, Frontier, Altice, Orange, Liberty Global, and more, decided to find out why.
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April 1, 2022Here’s what the 1,000-person consumer study turned up:
Consumers Are Worried About Their Safety
• Nearly 75% of consumers strongly or somewhat agreed that they preferred to avoid technician visits to their home if their Internet or cable equipment required service.
• 60% would prefer to fix an issue themselves with remote guidance from a tech (rather than having a tech in their home).
• 46% said they would let a technician work outside of their home but would not let that person inside of their home.
• 60% would leave their existing telco provider and/or switch to a competitor if their safety expectations were not met.
• Yet of the 37% of consumers who have required service during the pandemic, a whopping 36% said it required an in-home/in-person technician visit — something that most consumers clearly don’t want.
But Expectations Remain High
• 58% expected their telecom provider to address and fix their issues as quickly and effectively as before the pandemic; they did not expect a decrease in service.
• 67% expected technician visits to be as short or shorter than they were prior to the pandemic.
• More than 80% expected techs to use PPE, like gloves, facemasks, shields, etc.; 60% expected sanitization of tools and equipment; 19% wanted temperature measurement.
• And even with all of this in place, 20% still said they would avoid an in-person visit anyway.
Resources
To read and download the study: https://cdn2.hubspot.net/hubfs/2312473/Content/Survey/TechSee%20Survey%20-%20Customer%20Expectations%20of%20Service%20Delivery%20During%20COVID-19.pdf
https://telecoms.com/503743/telco-revenues-forecast-to-contract-3-4-amid-covid-19-outbreak/
https://www.youtube.com/watch?v=g5pxwsYTwZ0&feature=youtu.be
https://www.youtube.com/watch?v=MA42SlO20ak
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About the Author: Ziv Orr is VP of Business Development, TechSee. TechSee’s goal is to provide people with the knowledge and confidence to resolve all kinds of issues, by enabling service reps and technicians to share expertise with their customers using the power of vision. Over two decades of experience across CX technologies, visual computing, Augmented Reality, and Big Data, enables TechSee to follow through on this commitment. For more information, please visit https://techsee.me/. Follow Ziv on LinkedIn.