Segmentation, segmentation, segmentation
If location matters to the property market, segmentation matters equally to mobile providers. Customers are not the same. Businesses in particular have widely different needs and demands. The ability to meet these needs can unlock significant opportunities for mobile providers as they seek to increase revenue and returns.
In the property business, it’s often said that location, location, location is the most important attribute for a residence. In the mobile industry, it’s becoming increasingly clear that segmentation, segmentation, segmentation is the rule that should apply.
For a mobile provider, understanding your customers so that you can better define products and services for which they will pay has become mandatory. At the same time, there is growing recognition that customers do not always fall into neat categories. Indeed, the opposite is true – there are likely to be many more segments than had previously been imagined.
This creates an opportunity. If relevance matters, then becoming more relevant to an identifiable group of customers matters even more. As a result, mobile providers need to develop a richer, more detailed understanding of their target customer groups which, in turn, will allow a deeper level of segmentation to emerge.
For example, until recently, business customers were typically seen as a single segment. While that’s true, there are many kinds of businesses, spanning many different verticals. New sectors are emerging all the time, as business evolution continues apace. This means that a mobile provider can target its efforts more precisely towards the needs of one or more selected verticals rather than simply businesses in general.
One area of interest concerns financial services. On one level, this is a clearly definable group but when other considerations are taken into account, it’s clear that it’s actually formed of lots of related professions and stakeholders – accountants, insurance brokers, traders, stockbrokers, Fintech companies and so on, not all of which are regulated by an appropriate authority.
As such, their needs are related but also differ – a company regulated by, say the FCA, may need to adopt certain practices, while another that is not will not need the same things. A generic mobile service won’t meet these needs – but a range of services that tuned to specific requirements will make a difference and turn the mobile provider into something more meaningful, useful and relevant to the businesses concerned.
Mobile providers are increasingly using this intelligence both to define and create relevant, useful offers and then to target them more effectively. This is a continuous process and one that has huge potential to create better relationships and long-term, sustained revenue.
Gintel helps mobile providers with this process. The flexibility of our solutions enable business communications offers to be delivered that address very specific needs and which service niches. The thing is that, today, a niche isn’t a long-tail opportunity: it can be a hugely valuable but underserved market.
With Gintel, mobile providers can deliver differentiated services that address these markets but they can only do so if they thoroughly understand what they really need – which means taking a complete view of industry specific requirements, regulatory conditions and relevant legislation which may govern different sectors. It’s worth doing, as the rewards can quickly add up.