Telecom, Media & Technology
The TMT industry includes three sub-industries – Telecommunications, Media & Entertainment. Each of these sub-industries has its own priorities and challenges when it comes to generating revenue, managing finance, and operating their business. Across the board, developing effective go-to-market strategies in TMT requires breaking down silos and connecting finance, sales, marketing, workforce, and, in some cases, supply chain – making TMT ideal for Connected Planning.
Technology
A company that develops and distributes various forms of software, software technology, and software products is commonly known as a software company. Such companies may adopt different business models ranging from software-as-a-service to licensing, usage-based, advertising, in-app purchases, freemium, transaction fees, and support. The key challenge for software companies is to optimize their operations and cost management to improve efficiency.
The primary objectives of technology software companies include:
- Digital transformation
- Customer experience
- Product innovation
- Customer retention
- Cross-sell and up-sell
Media
Companies involved in the media industry own and manage various media enterprises, including but not limited to music, television, radio, publishing, motion pictures, theme parks, or websites. Media companies generate revenue through three primary sources: selling one-time rights-to-use or recurring subscriptions, selling advertisements around their content, or selling consumer data. However, a major challenge that media companies face is the constantly changing consumer behaviors, which can lead to high customer turnover.
The main objectives of media companies are:
- Customer engagement
- Customer retention
- Content consumption
- Price optimization
- Content diversity
Telecommunications
Telecommunications companies offer telecommunication services, including telephony and data communications access. Additionally, many telephone companies also function as internet service providers (ISPs). However, the telecommunications industry faces the challenge of high costs and capital expenditures, which can lead to uncertainty in returns on investment.
The primary objectives of telecommunications companies include:
- Product innovation
- Customer experience
- Brand loyalty
- Digital transformation
- Competitive, 1st to market