Operators Can Unlock $47 Billion of Additional Revenue with Real-time Contextual Offers
November 11, 2014 - Aleks
DUBLIN, Ireland – November 12, 2014 – Openet, a leading independent supplier of real-time business support systems (BSS) to communication service providers, today launched the results of an exclusive global survey of mobile operators. The study revealed that the vast majority of operator respondents expect real-time contextual offers sent to subscribers, that can be immediately activated and purchased from the device, would increase global data revenues by 15 per cent – a staggering $47 billion in untapped revenue.
Despite the scope of this lucrative opportunity, more than three quarters of operators surveyed (77 per cent) believe that the majority of potential new revenue is wasted as a result of slow time to market for new offers. Roughly the same numbers of operators (74 per cent) believe the solution lies in creating, managing and updating offers from one central place – a move that is estimated to reduce current time to market by half.
In reaction to this market demand, Openet today launches its new Real-time Offer Management (RTOM) solution. This new system enables operators to instantly present contextually relevant and appropriate offers and promotions direct to subscribers’ devices in real-time. The RTOM solution uses a variety of sources of information to create context around each user. For example, average monthly spend, remaining data allowance, score on the churn risk index, or prepaid or post-paid to name a few.
An offer can be presented to the subscriber following a trigger event, for example either an inbound subscriber query, or a pre-defined network event (e.g. subscriber accesses Facebook). RTOM can decide which offers to present to the subscriber, by first verifying their context across multiple control points. If the context is determined suitable, one or more offers can be sent. The current uptake rate when upselling offers directly to a customer device is estimated to be 8% versus 14% with real-time contextual offers.
“The results of our survey show a clear desire from operators to have the flexibility and agility to offer contextually relevant offers to subscribers to increase upsell opportunities,” says Philip Hogan, GVP Sales and Services at Openet. “That’s precisely what we now offer thanks to the availability of our RTOM solution. We’ve already secured two major orders for RTOM, which shows that there is a clear demand for this solution.”
The full survey results are also available to download here.
Openet is the leading independent supplier of real-time BSS (business support systems) to communication service providers. Openet software ensures that more than 600 million mobile telecoms users around the world enjoy the best network and data experience while enabling operators to monetize data use in ‘real-time’. Since its foundation in 1999, Openet has constantly been at the forefront of telecoms software development and innovation. This is characterized by its open platform, domain experience and engineering expertise. Its success is personified by the many long-term relationships it has fostered with the largest, most progressive, and demanding operators across the globe. For more information, please visit www.openet.com.