Time to catch up on the other stuff going on this week that we didn’t get to after the long weekend: … [visit site to read more]

This Industry Viewpoint was authored by Eric Carrasquilla, SVP of Digital Engagement Solutions at CSG

For years, communications service providers (CSPs) and streaming services have poured time, funds, and resources into advanced and exciting products and offerings – from unique streaming content to the speeds of 5G – to maintain an edge with their customers. Now, however, we’re seeing the old guard … [visit site to read more]

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In a reminder of the changing business models of many operators in Africa, it has been reported that the M-Pesa virtual Visa card, introduced in June, is now undercutting Kenya’s commercial banks in the foreign exchange market.

The virtual card, available to all M-Pesa users in Kenya – there are more than 30 million – is charging a lower forex rate than banks for payments across Visa’s 61 million merchants.

Kenya’s Business Daily suggests that the lower forex rate aims to win M-Pesa a larger share of the country’s cross-border payments market.

As we reported at the time, the M-Pesa Global Pay Visa Virtual card will allow users to securely pay 100 million foreign merchants from their mobile phones without credit cards or accounts with payment processors. The virtual card also targets subscription markets for services like Netflix and Spotify. It is to be expanded beyond Kenya, to Tanzania, Mozambique, Congo, Lesotho and Ghana, over the next year.

At just over 38%, M-Pesa has already overtaken voice (about 31%) to become the biggest revenue earner for operator Safaricom, boosted by a cashless trend encouraged by the Covid-19 pandemic and by continuing service diversification.

For example Lipa na M-Pesa, a cashless payment service that allows customers to make payments for goods and services securely and conveniently, has aggressively recruited merchants across the country, including businesses such as fuel stations, supermarkets, corner shops and eateries that card payment services may have avoided, preferring to target formal retailers.

And more growth is planned as Safaricom aims to roll out new M-Pesa services in areas such as investments and insurance – if the Kenyan regulator approves.

If you work in sales, you should be one of the best storytellers. Why? Well, the obvious reason is that stories are fun! But mainly because storytelling allows salespeople to get creative with their sales pitch. 

Think about the different sales pitches you have heard in your life. Would you prefer bland stats and industry standards? Or would you like to hear personality and something relatable?

Storytelling adds emotion to your pitch and delivers visual and relatable outcomes that look attainable to potential customers. By reading these four tips, learn how to enhance your next pitch with storytelling. 

1. Define the Takeaway

What is it you want your listeners to gain? How do you want them to feel? Why should they even listen to you?

Answer these questions and establish the main takeaway of why you are connecting with someone. Have your goal in mind, and do not stray from the topic. Defining the main takeaway will make it easier to structure your story. 

2. Structure

Now that you have your main takeaway, it is time to structure your story. All good stories have a beginning, middle, and end. Of course, it goes much deeper than that, but the middle of the story is where readers reach the climax. Also known as the rising action, the climax is the highest point of the emotion where the person(s) in the story reaches a conflict or hurdle. After the climax, we address the issue at hand with the resolution. The struggle is over, the problem is solved, and we can coast to the conclusion. 

You can deliver one of the best storytelling experiences by implementing a proper structure. Everyone loves a feel-good story, but you must overcome an issue to receive a happy ending. 

A good tip for resellers is to use a case study from one of their existing customers. Showcase the problem the customer was facing (the climax) and how your solutions solved the problem! (the resolution).  

3. Personalize the Story

If you can add a personalized touch to your story, leads will eat it up! Even though you are contacting decision-makers in the same industry, they do not all think alike. In fact, people are so different from one another that one sales pitch may work extremely well on some and others not so much. 

Do your due diligence and learn key facts about the person, so your pitch is highly personalized. Use the person’s name, examples, and experiences to tailor the story. Mention your connection with past customers who remind you of them. Although they seem small, the little personal touches will make a huge difference. 

4. Keep it Simple

The last point, but probably the most important, is to keep your story simple. You want to ensure your lead clearly understands your takeaway and that they will remember it. Therefore, avoid using technical jargon, swaying from the main point, and adding unnecessary details to the story. 

By keeping it simple, you’ll keep your listeners engaged with the message and allow them time to ask any follow-up questions.  

A Great Example

After considering these tips, take a look at this example of a great story. A long-time partner of Bicom Systems, SOCS (Southern Ohio Communication Services), saves the day for one of their customers, a local police station.

Explore the issue and learn how SOCS swiftly solves a problem using their solutions. Oh, and the fact they did this in only FOUR hours!

Share this blog post on social media and let us know your favorite sales pitch that is told like a story. Visit our website for more information on Bicom Systems and how you can become a partner. 

Let’s Connect
📞 +1 (647) 313 1515
📧 sales@bicomsystems.com
💻 www.bicomsystems.com/contact-us     

After mixed messages recently about the cash-strapped state owned carrier, Zambia’s government has finally categorically denied media reports that it has decided to sell Zamtel.

In fact according to the ITWeb Africa news service, the country’s Vice-President Mutale Nalumango has gone much further, insisting that Zamtel will be recapitalised and not sold, the aim being eventually to enable it to compete favourably in the market.

Despite earlier reports of an unnamed equity partner, Science and Technology Minister Felix Mutati has insisted that so far no such no equity partner has been identified. However, Mutati was also quoted in June as saying that the government will not give the company the US$265 million recapitalisation it needs.

Since then he has suggested that a working committee would aim to investigate the viability of the company and recommend the way forward, saying: “At the end of the day, we want to save Zamtel and that is our only objective.”

That may be easier said than done. Zamtel’s working capital deficit is estimated at around US$59.8 million, and maintenance of current infrastructure, expansion and modernisation will add to the bill. Last week’s reports also mentioned outstanding debts of $175 million and a recapitalisation of at least US$265 million simply to stay afloat.

There’s also an issue with the sale of Zamtel in 2010 to Libya’s LapGreen Networks for US$252 million by Zambia’s previous administration. The present administration insisted that the transaction was illegal and soon afterwards took over Zamtel’s operations. In 2017 the Libyan Investment Authority, (LIA), the investment arm of the Libyan government, took the Zambian government to court for abruptly reversing the sale of Zamtel without compensation.

The debt owed to Libya could add to Zamtel’s outgoings: between US$380 million and $500 million, depending on which news outlet is quoted and also depending on how much the government has so far paid.

However, given the eye-watering debts it is carrying, it’s hard to see how Zamtel can be made into a going concern without a massive injection of cash, not to mention a complete overhaul.

Australia’s bandwidth ecosystem is one step closer to having a new route to the rest of the world. SUBCO has announced the completion of the final splice on the Oman Australia Cable, an express system that will offer faster speeds between the continent and the EMEA region. … [visit site to read more]

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