Nearly eight in 10 customers want expanded telcos services

However, many operators fail to capitalise on their expanded mandate.

Nearly 80% of business-to-business customers want telcos to expand their services beyond traditional connectivity, according to a McKinsey report.

However, many operators fail to capitalise on their expanded mandate, leaving growth opportunities in areas such as next-generation connectivity, cybersecurity, and cloud-enabled services untapped.

To meet expectations and unlock growth, McKinsey said telecom operators must clearly define their value in the market as integration partners and end-to-end solution providers.

For example, in Spain, over half of the respondents want to see operators become one-stop shop providers.

Meanwhile, globally, over 20% noted security as their most compelling priority; it is the top priority for 24% of large enterprises, followed by medium-sized firms (20%) and small businesses (17%).

Notably, cybersecurity is often cited as the top reason for switching providers, outranking brand, product capabilities, and price.

“About one in four plans to switch their telco vendors in the next 12 months, with cloud providers and tech manufacturers standing to gain the most,” McKinsey said.

Further, over the next year, McKinsey expects the use of fully digital channels to nearly double, forcing service providers to digitise at the same rapid pace they did during the pandemic.