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Fjord Trends 2022: Communications Industry
1.
Copyright © 2022Accenture.All
rights reserved. Communications Industry Edition April 2022 THE NEW FABRIC OF LIFE Copyright © 2022Accenture.All rights reserved.
2.
Copyright © 2022Accenture.All
rights reserved. go beyond the role of enablers and take a more central part in these trends, with the help of differentiated business models and data-driven culture. We first dive into the world of metaverse and what it means for the industry beyond its gaming roots.Are we ready for the cultural revolution?What does it mean for business and their products? Who will manage the digital identities? How will we handle the interaction shift with the convergence of physical and digital shift? How will we define the ethics of interaction on this platform? Then we will approach the trending and pertinent topic of consumer Trends in the Communications Industry 2022’s FjordTrends focus on the need to respond to relationship changes -- all relationships. For the communications industry, the past year reiterated the continued need for digital and seamless experience.While the changing technological and customer experience landscapes unlock opportunities, these are only open to players willing to innovate and explore, swiftly.Those resistant to change, banking on their existing business models, will find this new terrain difficult to navigate. This year’s core trends for the communications industry are The next frontier and This much is true. Communication Service Providers (CSPs) are challenged to expectations.What should we do to keep them engaged and loyal? How can we deliver personalized experience? Is their data secure? Can they trust us? The disruption in the industry over the past couple of years have shown us that CSPs need to explore new paths to grow and play a more valuable role in consumer’s everyday lives.The focus is to reinvent, be flexible, respond faster and deliver intelligent solutions.They need to adopt a data-driven open culture and prepare for 5G, cloud and edge technology advancements to gain competitive advantage and become orchestrators of the industry.With strategic transformation,CSPs’ role in the society can impact our relationships, the way we interact with each other, with businesses, nature – all the threads that weave the new fabric of life. Alfonso Imbroda Managing Director – Interactive, Communications & Media Industry Lead, Accenture Martha Cotton GlobalCo-Lead – Fjord, Part of Accenture Interactive Andrew Walker Senior Managing Director – Communications & Media, Global, Accenture Copyright © 2022Accenture.All rights reserved.
3.
Copyright © 2022Accenture.All
rights reserved. Contents Comeas you are The next frontier Handle with care The end of abundance thinking? This much is true 01 03 05 02 04 2022Trends
4.
Copyright © 2022Accenture.All
rights reserved. The metaverse shows promise beyond its gaming roots to become a cultural revolution offering people and brands a new place to interact, create, consume and earn.The metaverse is intended to be a bridge between physical and digital identities, properties, and spaces. For the communications industry, the metaverse opportunity will be driven by customer experiences, community engagement, back- office operations and new products and services. In fact, it will particularly be a place to enhance customer experience rather than viewing it as just another channel. Copyright © 2022Accenture.All rights reserved.
5.
Copyright © 2022Accenture.All
rights reserved. What’s going on 03 The next frontier 4 Conversation, spearheaded by big tech, around metaverse environments and the convergence of physical and digital worlds is exploding. It will shift culture and digital behavior expectations. Finding success will rely on brands' understanding of their customers and how/if they exist here. For Communications industry players, the metaverse is the next generation of the internet for the next generation of customers – enabling us to participate in a persistent shared experience that spans from our real world to a fully virtual world and in between.CSPs are poised to be more than just connectivity providers. The convergence of the technical foundations and the new experience layer emerging is why the Metaverse is new and now, and a perfect opportunity for CSPs who already play in both.
6.
Copyright © 2022Accenture.All
rights reserved. What’s going on CSPs are ready to participate in the metaverse: • Verizon connected the real and virtual through a multicity, 5G, geo-fenced AR treasure hunt for a chance to win new iPhone 13. • SKTelecom plans to grow Ifland into a global Metaverse platform allowing social social capabilities, commerce, entertainment and even virtual careers and business opportunities in virtual spaces inhabited by virtual identities. • T-Mobile 5G will take holograms into everyday life with real-time holographic video video calls right on your mobile device, anytime, anywhere. • Accenture and Microsoft Mesh have been experimenting in this space to create our create our own employee experience with a digital twin of Accenture’s office headquarters in virtual space, the Nth floor. Accenture employees all over the world can gather in the same virtual space for social gatherings, employee onboarding, and so much more. In 2022,Accenture expects 150,000 new hires will work in the metaverse on their first day at the One Accenture Park.We are bringing this together through our Accenture Metaverse Continuum business group. The metaverse over time will transform every aspect of business – customer experience, operations, products, sales, and more.
7.
Copyright © 2022Accenture.All
rights reserved. What’s next 03 The next frontier 6 Engineers, developers, creators, policymakers, and communications partners all need to join up to build these new worlds. Participating in the metaverse will require CSPs to rethink their strategy and operating models, including their approach to ecosystems and partnerships. They will have to foster a growth and experimentation mindset and empower cross- functional teams to drive the metaverse vision. Decoupling legacy ways of operating and taking a “digital native” approach will be key to capturing value in this space. Exploring the metaverse value chain of infrastructure, security, spatial computing, end-user devices, software & platforms, marketplaces & experiences will identify the right potential opportunities for eachCSP. Whether it’s products or services, or a combination of both, there is a place for each type of provider – but the piece of the pie will vary significantly.We foresee demands for greater connectivity, 5G and cloud, but also proliferation of new consumer devices, softwares and new app stores, exclusive ecosystem and joint go-to-market partnerships, digital identities and trust, and immersive experiences and virtual storefronts. As many CSPs are building out their networks for 5G, metaverse should be kept in mind as one of their use cases and considerations.
8.
Copyright © 2022Accenture.All
rights reserved. Think Say Do We suggest 03 The next frontier 7 Consider your place in the metaverse ecosystem—Who are your metaverse customers? How steep is the adoption curve and how does that affect core business? Are there opportunities to move beyond the core to valuable metaverse services & offers? Should we revisit our approach to ecosystem? Is this a serious enough trend that it warrants investment & focus? The metaverse is the Internet of Place and not just another channel. Ask people (especially young people) about the experiences they’re having with their friends online to learn more about the metaverse’s potential and how CSPs can play a role in that. Monitor your B2B clients approaches in the metaverse. Identify how CSPs could be more than a connectivity enabler helping your clients to delivery new products and services, deliver a metaverse identity, security control, etc. Approach the metaverse with curiosity and playfulness, but always with integrity, ethics, care, and respect for the environment. It will be especially important to focus on ethics – i.e. are they imbedded in the creation of the metaverse?What should be considered? Consider the skillsets the company will require to embark on this journey and thrive.
9.
Copyright © 2022Accenture.All
rights reserved. Customers expect transparent and truthful answers to their questions at different points of interaction with the product or service they want to buy, and at points of purchase. Through an omnichannel approach that orchestrates multiple points of contact,CSPs can embed data and intelligence across every channel and touchpoint of the customer journey.This will enable them to deliver the relevant and trustworthy messages to customers.Those who get it right will earn trust and competitive edge. Copyright © 2022Accenture.All rights reserved.
10.
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rights reserved. What’s going on 04 This much is true 9 We are in the era of questions. Asking questions has become so easy but people are increasingly doubting the answers they find, leading to a breakdown of experience and trust. Delivering on customer demands for information is a way to show transparency, which builds credibility. Information layers—how they’re designed and communicated—are a critical and complex place for a brand owner to build trust. Data security is also a key driver of trust. The opportunity for CSPs to reimagine trusted customer experiences has never been greater. Liquid expectations of consumers have increased with the rapid advances in artificial intelligence, cloud and 5G technology. Customers get an enriched experience while CSPs can better understand their customers’ unique needs. The communications industry holds a superior position of trust when it comes to data* – and is setting standards for how best to handle and take care of customers’ data, especially as the work to personalize channels for customers continues. *Sources: The Communications Experience Reimagined | Building on a Trusted Platform
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rights reserved. What’s next 04 This much is true 10 The challenge is dealing with the limited space for information and people’s limited attention span.The better communications companies become at designing information layers that build on the trusted brand story, the higher their chances of success and more trust from customers.They must prioritize the delivery of personalized, transparent and intelligent content across the business. With the right layer of technologies, CSPs can give the right message with truthful answers, or elements that they can trust about the product/brand/service, and continually innovate their CX. Content design will be key. By taking advantage of data and advanced analytics capabilities,CSPs can deliver superior interactions across multiple channels. Conversational AI will provide relevant insights for proactive, predictive experience by leveraging behavioural analytics. Hybrid interfaces will augment physical objects with a digital layer of information, delivered as a sensory experience through smart devices (such as smart glasses), and customized according to customer mode.
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rights reserved. Think Say Do We suggest 04 This much is true 11 Research the types of questions customers are now asking in—and of— your industry.What if companies recognized the potential of customer service to create and improve their products and services—not just support them? Outside of your sales channels, consider where people go to get information about your company or products, and how you can create information layers that mean they don’t have to go there. Tell your customers that you want to make sure they feel confident buying from you by giving them more transparency and information at the point of sale. Be transparent, agile and efficient solving any customer request. Design new information layers to build trust with your customers and communities and prove your commitment to answering your customers’ ever-increasing questions about your product and services—in ways that are easily discoverable both inside and outside the sales channel. Use data to understand as much as you can about the layers each customer is seeking. Use data to personalize the customer experience. Additional resources: Reimagining Telco CX, the touchless way | POV
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rights reserved. Thank you Copyright © 2022Accenture.All rights reserved.
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rights reserved. This document makes descriptive reference to trademarks that may be owned by others. The use of such trademarks herein is not an assertion of ownership of such trademarks by Accenture and is not intended to represent or imply the existence of an association between Accenture and the lawful owners of such trademarks. This document is produced by professionals at Accenture as general guidance. It is not intended to provide specific advice on you circumstances. If you require advice or further details on any matters referred to, please contact your Accenture representative. Copyright © 2022 Accenture. All rights reserved. Accenture its logo are trademarks of Accenture. Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com Accenture Interactive helps the world’s leading brands transform their customer experiences across the entire customer journey. Through our connected offerings in design, marketing, content and commerce, we create new ways to win in today’s experience-led economy. Accenture Interactive was ranked the world’s largest and fastest-growing digital agency in the latest Ad Age Agency Report. To learn more, follow us @AccentureACTIVE Visit us at accenture.com/interactive About Accenture Accenture Interactive
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