Openet Drives Service Provider Customer Retention with Loyalty Program Application
April 14, 2008 - Openet
DUBLIN, Ireland – April 14, 2008 – Openet, the leading provider of Transactional Intelligence for the world’s largest and most diverse service providers, today announced the availability of its Loyalty Programs application. Through the Openet FusionWorks Product Suite™, Openet is enabling service providers to more effectively leverage their existing transactional data to enhance and extend customer relationships in a time of constantly-shifting demand for new services, uptime and personalized experiences.
Telecom operators are finally realizing that service innovation and convergence are not the only ways to increase revenue and ARPU (average revenue per user). Instead, they are shifting their primary focus from customer acquisition to customer loyalty—innovating creative loyalty and affinity programs to increase “stickiness” and improve customer satisfaction and brand perception. Innovative loyalty programs can stimulate service usage and the deployment of new opportunities, however they must be timely, targeted and relevant in order for customers to see and appreciate the value.
“Service provider marketers are racing to keep up with customer expectations for personalized services and enhancements, and well-designed loyalty programs are a tremendous opportunity to communicate directly with enticing offers that will keep customers coming back,” said Openet CMO Mike Manzo. “The key is accurate and real-time data on usage, thresholds and style of account to ensure you’re targeting the right offer to the right customer. Leveraging FusionWorks together with our Loyalty Programs application gives marketers the real-time visibility and actionable information to capture and retain customer attention and revenue, now and in the future.”
Some of the types of programs and enhancements more readily possible with Openet’s Loyalty Programs application include:
- Awards points based on usage, tenure or transaction thresholds
- Points programs that allow customers to take advantage of service provider and third-party offerings
- Free initial usage of new or existing services, such as SMS, video downloads and ringtones. For example, service providers can offer long-time customers a free month of text messages to coincide with a user’s birthday month
Tier 1s are constantly faced with churn rates for pre-paid, hybrid and contract subscribers. The ability to segment customer data brings service providers the chance to identify the right situations where loyalty programs can either enhance a relationship or counteract the timing when users might consider another provider, such as when a pre-paid customer is about to top off and extend minutes. As service providers focus on extending customer relationships and revenue for next generation services, capturing and keeping customer attention is paramount, and targeted loyalty offerings—enabled by Openet—are a direct way to positively impact lifetime subscriber value, improve satisfaction and brand perception, and stimulate new services usage.
About Openet
Openet is a leading worldwide provider of event processing and transaction management solutions. The Transactional Intelligence of the company's solutions extracts increased value from diverse service provider networks, enabling rapid introduction of new services and reliable, cost-effective management of existing services. Openet is focused on delivering best-in-class network edge solutions and specialized engagement processes that create business value from network activity. A global company, Openet's implementations include long-running engagements with the world's leading service providers such as British Telecom, Orange, AT&T and Verizon Wireless. For more information, visit www.openet.com.
