Real-time contextual offers to subcribers could increase global data revenues by 15 per cent which would be equivalent to a staggering $47 billion in untapped revenue, according to an exclusive study by Openet involving mobile operators.The study revealed that the vast majority of operator respondents expect to acquire the capability to deliver real-time contextual offers, that can be immediately activated and purchased from the subscriber's device.
Openet, a leading independent supplier of real-time business support systems (BSS) to communication service providers, said that 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 that will enable operators to instantly present contextually relevant and appropriate offers and promotions direct to subscribers’ devices in real-time. According to Openet, the RTOM solution uses a variety of sources of information to create context around each user such as average monthly spend, remaining data allowance, score on the churn risk index, or prepaid or post-paid to name a few.
Openet added that 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.
Philip Hogan, GVP Sales and Services , Openet
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. 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.”
