Since the entry of Reliance Jio in the telecom market, incumbent operators are finding it difficult to retain their customers. In a bid to lure customers and retain them, telecom companies have started to sell insurance and backup plans, starting for as less as ₹49 per month.
Under these plans, the companies claim to pick customer’s phone from their home and deliver back after repair. Also, the companies have been working to provide an anti-virus to protect customer’s data and phone from possible attacks. Along with that, these companies are also offering cloud storage to store data and access it from anywhere.
Airtel and Vodafone India have already started to offer these services under Airtel Secure and Vodafone Red Shield. According to the rumours, other companies are also looking to offer such services to the customers to increase revenue and to retain their existing customers. Reliance Jio also offers the services of data backup and mobile security with its JioSecurity App.
Telecom industry in India is currently under a debt of ₹4.9 lakh crores. Offering services like these can help them retain their customers and at the same time, can help increase revenue. The telecom companies have struggled lately to retain their profit level and revenue from the existing customers as the pries of data and voice plans have been slashed by almost all the operators.