Our research shows that to succeed in innovation, telcos must evaluate proposed new services or products much more painstakingly in three areas:
- User acceptance: making sure the product meets a real user need or requirement
- Market understanding: having a clear vision of where the ROI is coming from
- Business structure: making an objective decision about whether to build in-house, acquire, or partner
Our analysis shows that the difficulty of the innovation, i.e. whether it is product development or diversification into a new vertical, is less important to success than doing the difficult strategy and planning work well.
See our research on telco innovation: