The brand loyalty of millenials has been found to be higher than of any other generation. People between the ages of 22 and 37 have tremendous power to spend, which is expected to reach $4 trillion by 2030. For any budding telecom operator or MVNO, millenials offer a great opportunity to improve their business prospects. To capture the market share offered by the millenials, it is best to incorporate the best telecom billing systems in your day-to-day operations.
Flexibility: The Key to Capturing Millenials’ Interest
Capturing millenial’s interest is not an easy thing to do. Although they are loyal to the brands they prefer, their trust for a brand is not built overnight. It takes repeated delivery of quality services over a period of time to forge a relationship of trust. And, it is not easy to make that happen, unless you are utilizing the latest telecom billing solutions that offer complete flexibility. As of now, the most versatile and flexible telecom solutions are the ones that are made for the cloud environment.
Versatile Cloud-Based MVNO Telecom Billing Software Solutions for Best Results
Versatile Cloud-based MVNO telecom billing software solutions offer enhanced flexibility in MVNO’s operation. Some of their major advantages are listed below:
- Low scalability risk – Changing the capacity of an on-premise billing operation requires a lot of capital investment. Also, sometimes you would like to test the new plan before actually increasing the scale of your operation. Cloud-based billing solutions eliminate the requirement of massive capital investment and also give you a chance to run pilot projects, where you can test the impact of your new offerings on a small group of customers.
- Innovative discounts – Millenials have a habit of comparing offerings from different operators. They love discounts and sometimes there decision to opt for an operator might be influenced by the discounts they are offering. As an MVNO or a telecom operator, you should look for billing solutions that not only attract new subscribers but also allow you to launch discounts that do not hurt your revenues. Good telecom billing software can help you offer cross-product discounts that can be beneficial for you. For example, you can offer discounts on your lesser-used services (e.g. IPTV), whenever customer buys additional data. This way, you will be able to familiarize your subscribers with new services and at the same time make revenue from additional purchases of frequently used services.
- Monetization of new services and enablement of partnerships – New services like OTT and IoT are more complex than mainstream services and require a futuristic billing solution. A quality telecom billing system like Telgoo5 can help you track, charge and process large amount of transactions. Also, the billing provider that you choose should have APIs to make your work easier. For example, an API that is connected to all major payment gateways can be used for providing different payment options to the millennials, which they so desperately desire.
Analytics and reports – Your telecom billing software vendor should provide you complete control over analytics and reporting. By associating with Telgoo5, you get a slave database that gets updated by the data from master database. You can run over 50 reports and make the most of our customizable analytics package to discover new insights.