Being Competitive Means Choosing Your Focus
Market understanding is the key to ensuring service success – use freely available data to define targets and help shape the most attractive offer.
Before an operator launches a service, it needs to be sure that it will find a willing subscriber base. This means that the first thing that must be accomplished when considering a new service is to research and define the target market and estimate the opportunity it represents. Too many services are launched at mass-market customers in the hope that some will buy. It’s much better to select a focus for each new service launch.
Operators need to carefully review potential customer groups. It’s not simply a case of how many there are in total – but a mix of factors, such as how many can be reached, how many do not currently have access to similar services, how many are likely to buy and so on. Such analysis, while essential, isn’t difficult as there’s a wealth of data available. There’s a lot of discussion about big data and the secrets it can unlock to help target offers but there are other sources of information too. In this context, it’s worth looking at data regarding the business community in the country to be served.
Many governments provide excellent resources that can help operators understand opportunities. Governments collect data on many topics but one area in which they excel is in the creation of statistics regarding businesses. They capture information about business types, the number of employees they have and the overall numbers of companies. This data, which is typically publicly available is invaluable. It tells you how many businesses of given size ranges are active in specific vertical sectors, such as logistics, hospitality, accountancy and so on.
With such data to hand, operators can make better-informed decisions regarding the launch of new services. And, by comparing this known data with other potential markets, they can create better strategy and increase their chances of success.
Our experience has shown that those operators that spend time understanding the market conditions are best placed to understand the needs of the customers within attractive target groups. Armed with this knowledge, they can launch more competitive services that repay investment quicker and offer the potential for sustained, long-term profitability and growth. It’s a simple process but it can make all the difference.
That’s why we help our customers learn from the experience of others. We’ve helped operators launch successful enterprise-focused businesses in many countries around the world. All of them have started with recognition that business customers represent a huge opportunity and have then chosen specific horizontal and vertical segments to target within the business community.
The flexibility of the Easy Business Communications Suite enabled them to tailor their offer to the needs of the chosen market and dramatically increased their ability to compete. Why not talk to Gintel and find out how we can help you be more competitive and more successful with a clear focus on attractive markets?