Good Revenue š± Telecom Trials, 5G Realities, & the Pricing Fix That Saved UScellular š¤³ with Doug McColgin
Doug McColgin, Director of Marketing Strategy at U.S. Cellular, reveals why telecom companies are nervous as smartphone replacement cycles hit 4+ years and how one simple billing change boosted customer retention by double digits.
We cover:
š± The 4-Year Phone Crisis: Customers are keeping phones longer than everāDoug explains which telecom revenue streams are collapsing and who's adapting fastest.
šÆ The Jobs Framework Secret: U.S. Cellular used Clayton Christensen's "Jobs to be Done" to discover what customers actually hire their phone service to doāthe results shocked everyone.
š° The Flat-Rate Gamble: Why U.S. Cellular killed traditional phone plans and the specific retention numbers that proved it worked.
š The Chinese Infiltration Reality: FBI confirmed Chinese hackers infiltrated major telecom networksāDoug breaks down what this means for smaller carriers and customer security.
š°ļø The Satellite Threat: Starlink and satellite services are targeting telecom's most profitable customersāhere's U.S. Cellular's defense strategy.
ā¢ Follow Doug: https://www.linkedin.com/in/doug-mccolgin/
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Highlights:
00:00 Introduction to Product Innovation in Telecom
00:31 Current State of the Telecom Industry
02:00 Challenges in Product Differentiation
02:43 Jobs to be Done: Understanding Customer Needs
06:10 The Impact of 5G on Consumer Behavior
10:27 Exploring New Value Propositions
15:18 Innovative Customer Experience Initiatives
18:51 Revamping the Billing System
25:52 Cultural and Identity Work at U.S. Cellular
31:33 Future Trends and Challenges in Telecom
35:50 Quick Fire Questions and Conclusion
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Referenced:
ā¢ Smartphone demand: https://www.idc.com/getdoc.jsp?containerId=prUS51899524#:~:text=IDC%20firmly%20believes%20the%20smartphone,and%20surpassing%20even%20AI%20PCs
ā¢ Device replacement: https://www.spglobal.com/market-intelligence/en/news-insights/articles/2024/3/consumer-checkup-higher-interest-rates-lead-to-longer-tech-replacement-cycles-80965629
ā¢ Jobs to be Done / Bob Moesta: https://therewiredgroup.com/about/bob-moesta/
ā¢ Competing Against Luck by Clayton Christensen: https://bookshop.org/p/books/competing-against-luck-the-story-of-innovation-and-customer-choice-clayton-m-christensen/1408161
ā¢ J Li Good Revenue episode: https://youtu.be/btey4x7viBM
ā¢ Cybersecurity threats: https://cybersecurityventures.com/top-5-cybersecurity-facts-figures-predictions-and-statistics-for-2021-to-2025/#:~:text=1.,and%20systems%2C%20and%20reputational%20harm.&text=If%20playback%20doesn't%20begin,can't%20play%20this%20video
ā¢ FBI & CISA assessment of Chinese infiltration of telecom networks: https://www.cisa.gov/news-events/news/joint-statement-fbi-and-cisa-prc-activity-targeting-telecommunications
ā¢ Salt Typhoon Hacks of Telecommunications Companies and Federal Response Implications: https://crsreports.congress.gov/product/pdf/IF/IF12798
ā¢ Implications of Salt Typhoon Attack & FCC Response: https://docs.fcc.gov/public/attachments/DOC-408015A1.pdf
#5G #Telecom #Pricing
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