As mobile and telco operators continue to look to expand their service offering and provide more value to consumers, Evergent’s CEO and Founder, Vijay Sajja, shares expert insight with Mobile Magazine on how finding effective ways to deliver a myriad of digital services via subscription packages has never been more important, or as powerful.
As Founder and CEO, Sajja drives the product vision and customer experience for Evergent, a leading company in customer management and monetisation for global telecommunications, digital media and entertainment providers. Sajja founded Evergent in 2007 with a mission to enable next-generation telecommunications and digital media subscription businesses to succeed and thrive in a fast-changing consumer landscape. Ever since, Evergent’s technology has been used to onboard and power relationships with over 700 million consumers across over 180 countries for telco organisations including AT&T, Singtel, Airtel, and Etisalat — along with major media companies and sports brands like Sony Pictures, Fox, and the NBA.
What is the current landscape of telco monetisation, and what can we expect to see in the near future?
Telcos are moving rapidly towards bundled network services and building out new 5G-enabled digital offerings to diversify their monetisation strategies. Today, pioneering operators are positioning themselves as digital lifestyle providers to offer value beyond connectivity. As revenues from traditional telecommunications services begin to decrease in value, delivering a range of other media and lifestyle services, such as video streaming, home security, music or healthcare subscriptions, can lead to massive improvements in customer retention and help businesses secure their future. Juniper Research estimated that this super bundling trend is set to help operators generate $13.8 billion in revenues via carrier billing by 2027. By playing a larger role in their consumers’ lives and deepening their existing billing relationships across a range of touchpoints, service providers can develop unique insight into user behaviour and drive hyper-personalised experiences that foster subscriber loyalty.
How can OTT video be used to drive opportunity?
One example of an area in which communications service providers are expanding their digital offering to create stickier, more valuable subscriber relationships is OTT video. In an increasingly fragmented streaming marketplace, streaming subscribers are looking for more simple, cost-effective ways to manage multiple subscriptions amid ongoing cost of living challenges. Many are choosing to cancel their services too — Parks Associates’ data found the average annual churn rate reached almost 50% in the US last year. Subscription fatigue is opening up opportunities for large mobile operators to play the role of aggregators of their own OTT services and others to simplify billing and save costs for consumers. At the same time, OTT partnerships mean mobile operators can harness their local expertise and market penetration to provide global streaming players a more streamlined entry to market while increasing average revenue per user (ARPU).
How can we boost hybrid telco monetisation?
Launching business transformation initiatives and expanding your offering through new digital services and strategic partnerships can be a painstaking process. To simplify complex billing issues between telcos and partner services, operators are harnessing cloud-native revenue, royalty, and customer management systems to unify siloed processes and underpin new service delivery models. Today, industry innovators are tackling real-world challenges around disparate pricing models, data synchronisation and customer experience to reduce the operational complexity of multi-partner billing.
Operators that modernise their approach with automated workflows and intelligent monetisation systems can drive better relationships with partners while delivering intuitive, frictionless subscriber experiences.
Telcos are uniquely placed to lead the evolution in the digital subscription economy and become enablers for a host of value-added services that improve consumers’ lives. But without highly efficient mechanisms to deliver and monetise these digital services, operators are leaving revenue on the table. It’s time to modernise.
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