10 Reasons Why Telecommunication Companies in Zimbabwe Should Invest in Market Research

In today's fast-paced and ever-evolving business landscape, staying ahead of the competition is crucial for the success and growth of any industry. Telecommunication companies in Zimbabwe are no exception, especially considering the recent advancements in technology and the entrance of global players like Starlink into the market. Investing in market research and data analysis has become imperative for telecom companies to maintain relevance, make informed decisions, and secure their position in the industry as it continues to grow and change. Here are 10 compelling reasons why telecommunication companies in Zimbabwe need to prioritize market research:

1. Understanding Market Dynamics

Market research provides crucial insights into the dynamics of the telecommunications industry in Zimbabwe, allowing companies to adapt their strategies based on consumer preferences, competitor actions, and regulatory changes. We have observed how telecommunication companies run un-optimized ads and campains, pushing product promotions and usage to no avail. Its easy to argue that the majoirty of the decision makers in the industry do not understand how social media has shifted consumer behavior and how social media has created the biggest marketplaces outside Amazon!

2. Identifying Growth Opportunities

By analyzing market trends and consumer behavior, telecom companies can identify untapped market segments and new opportunities for growth, helping them tailor their products and services to meet evolving customer needs. Lets talk about the "Ama2k) generation. This is a generation that is a heavy consumer of online products and services. The very fact that 80% of this group spends at least 6 hours a day consuming digital products offers telecommunication companies a blue-ocean opportunity to intensively and extensively provide innovative and creative products to this group. This is why we say, "Data is everything". Gather it, clean it, organize it and analyze it. You will see the gold and glitters just lying in the telecommunications industry.

3. Enhancing Customer Experience

Market research helps companies understand customer preferences, expectations, and pain points, enabling them to improve their services, optimize customer experience, and build stronger relationships with clients. Today, everyone is a journalist. A kid from Murehwa can influence product usage and acceptance. The advent of social media means that companies are the last to get feedback and normally they get it when the backlash goes viral. Research has shown that 64% of customers now prefer to create "user-experience content" whenever they consume a new product or service the first time. Be where attention is and understand consumer behavior.

4. Competitive Intelligence

Staying competitive in the telecom sector requires a deep understanding of the competitive landscape. Market research enables companies to monitor competitor strategies, pricing models, and service offerings, empowering them to differentiate themselves effectively. The idea is to stay ahead of the game and to enjoy the first movers advantage.

5. Strategic Decision-Making

Incorporating data-driven insights from market research into strategic decision-making processes empowers telecom companies to make informed choices regarding investments, expansions, partnerships, and innovations. All decisions that have the potential to shift the financial position and the foregoing concern of the business have to be data driven decisions. Numbers dont lie and numbers show us a pattern which can be used for effective decision making.

6. Forecasting and Planning

Accurate market research data allows companies to forecast market trends, anticipate industry shifts, and plan their long-term strategies effectively, reducing uncertainties and mitigating risks.

7. Optimizing Marketing Campaigns

Data analysis tools provide telecom companies with valuable metrics on the performance of their marketing campaigns, enabling them to optimize marketing strategies, allocate resources efficiently, and maximize return on investment.

8. Contribution to Zimbabwe's GDP

Investing in market research not only benefits individual companies but also contributes to the overall growth of Zimbabwe's economy by fostering innovation, attracting investments, and creating employment opportunities within the telecommunications sector. The telecommunications industry is one of the biggest economies in Zimbabwe. That alone is evidence as to why the industry has to stay ahead through investment in extensive research. Data is everything.

9. Leveraging Data Analysis Tools

The emergence of advanced data analysis tools and technologies has revolutionized the way market research is conducted, offering telecom companies unprecedented access to real-time data, predictive analytics, and actionable insights to drive business success. For instance tools like SEMrush, Metricool, Google Analytics and SurveyMonkey are a neccessity to business in this industry. The same applies to the advanced Customer Relationship Management tools available in the market. These tools aid in modernizing and digitalizing the workspace. Those who decide not to use tools and kits will die a miserable and painful death.

10. The Entrance of Starlink

With the recent entrance of Starlink into the Zimbabwean market, local telecom companies face increased competition and disruptive innovations. Market research becomes a critical tool for understanding Starlink's impact, identifying strategic responses, and seizing collaboration opportunities. We ran a twitter survey which indicated that 68% of subscription-based internet users were willing to ditch the local providers in favor of Starlink. On the other hand, Starlink is a global brand which is not coming to compete but to dominate. Telecommunication companies can no longer afford to compete on price, as they are used to, but are now forced to innovate and to compete on value, speed and accessibility. This is where Market Research on perception and product usage becomes of critical importance.

By investing in market research and embracing data analysis tools, telecommunication companies in Zimbabwe can position themselves for sustained growth, innovation, and relevance in an increasingly competitive and dynamic industry landscape.

We, as DRA are open and willing to collaborate with companies in this industry and assist them with in-depth market research and data analysis. We are so much willing to be part of the innovative drive to optimize and digitalize the industry.