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PrintThe right price for all customers, all the time
Tailoring services is one aspect of customer centricity, building individual price plans is another. With intelligent pricing, a operator can give its customers the advantage of doing more for less, while protecting its profitability and growing its revenue.
One of the hottest topics in broadband is the flat-rate tariff. Arguably, these all-youcan- eat pricing plans, together with rapid consumer adoption of smartphones, have created the huge demand for mobile broadband that we see today.
Making a profit from flat-rate tariffs is difficult because they often lead to an explosion in data traffic, increasing operational costs while revenue remains flat. This has led to tariffs coming with limitations – bandwidth limits, data download limits, time restrictions, roaming exclusions and more. And if customers don’t read the small print carefully, they could be in for a nasty surprise with their next bill.
5 percent revenue boost
The answer to all these challenges lies in offering individual price plans to customers. This entails analyzing the network and customer behavior to offer the right discount at the right time. With an improved pricing strategy, operators can increase their revenue by at least 5 percent without any additional capacity investments.
Freedom of choice in the pricing of services can be used to encourage customers to use services during off-peak periods, improving network utilization. It can also help to differentiate a operator in competitive markets, while closer customer relationships are built by offering customers individual packages and pricing schemes, better control of their expenditure and flexible payment channels.
Avoiding bill shock
Differentiated subscriptions can take many forms, based on varying times, data rates, access networks and quality of service dimensions. They could also be location based, perhaps offering a Home Zone, with a special home flat-fee monthly package offered on a par with ADSL pricing. The solution also helps prevent the phenomenon that has become known as ‘bill shock’ in which customers are hit by unexpectedly high charges.
With its Pricing for Profit concept, Nokia Siemens Networks advocates a systematic approach; combining customer experience and insight, capacity management and the marketing mix to initiate more dynamic and profitable pricing strategies.
The intelligent pricing of services, aligned to customer needs and based on available network capacity will ensure the right services reach the right customer at the right time – at the right price.