The secret to unstoppable revenue growth: How Telcos and BSPs can conquer the climbing challenge.
In the cut-throat market of today, the role of Telcos & BSPs (Broadband Service Providers) cannot be overstated. They provide the much-needed bandwidth and services to their customers, but their position is never secure. The constant barrage of competition from other providers offering faster speeds and cheaper prices poses a constant threat to their survival.
The idea of merely retaining customers and maintaining status quo on the revenue front is a far-fetched dream. To truly thrive in the business world, one must constantly innovate and offer new services that not only delight customers but also streamline their business operations. It is only by generating fresh top-line revenue with profitable margins that one can hope to offset the inevitable decline in traditional service prices.
With the changing times, BSPs are rapidly evolving their business model by incorporating a plethora of hosted managed services, both under their own brand as well as third-party brands. In fact, the BSP model can now be likened to that of Roku, which seamlessly bundles various entertainment partners into a single, easy-to-use dashboard.
Broadband Service Providers have been devoting a significant chunk of their resources towards enhancing consumer services, including managed Wi-Fi, personal device threat protection, and security camera services. However, in the midst of all this, the business customers have been quietly running their local networks, connecting them to the BSP-Wide Area Networks. These thousands of independent business LAN networks, connected to the BSP's public networks, present a golden opportunity for a new service that seamlessly ties them together, bringing untold benefits to all involved.
Every year, business customers shell out billions of dollars on stand-alone, convoluted solutions for their Local Area Network (LAN) operations. Inevitably, they are forced to hire specialists to manage and operate these networks locally, adding to their already burgeoning expenses. Unfortunately, in many cases, the exorbitant cost of these solutions and personnel is simply unaffordable for these businesses, leaving them to operate with a high degree of risk in their networks.
As we delve deeper into the world of Broadband Service Providers, it's becoming increasingly clear that offering Network Monitoring as a Service (NMaaS) is the way forward. Not only does it provide a strategic service to their business customers, but it presents a golden opportunity to boost their "monthly recurring revenue" and foster strong business partnerships.
It's time to seize the moment and take your BSP to the next level with NMaaS!