Think Beyond Billing – Part One: Preparing For Change
Traditionally, TV operators considered advertisers to be their primary customer, because ads were where the real money was made. However, savvy operators now know that without the viewer, there are no advertising slots to sell. Moreover, the increase in ad-free streaming services like Netflix are completely changing the game. Television viewers are no longer just numbers segmented into demographics and locations. Viewers are now customers and as a result, operators must shift their perspectives and priorities.
In the first of a two-part blog, we look at what operators need to be aware of to keep the needs of subscribers front of mind.
Rising Expectations – driven by the increasing availability of lighting-fast broadband and mobile network speeds, along with the growth of mobile devices, customers now have the freedom to dictate how, when and where they view content. This has all led to subscribers having much higher expectations for content, quality and customer service.
Increasing Flexibility – globally, nearly half of OTT subscribers plan to cancel within six months and long-term contracts are becoming a thing of the past. Customers can now move between operators and dip in and out of services as they please. By offering rich content and great value for the cost of a subscription, operators are much more likely to hold on to their viewers longer.
Shifting Perceptions – subscriber management is no longer just about billing. Operators must move away from a billing-centric platform to a more subscriber-centric platform. As competition for subscribers increases, traditional Subscriber Management Systems (SMS) will no longer cut it. A unifying platform aimed at increasing content consumption, and proactive customer engagement targeted at pre-empting subscriber churn is key to helping drive ARPU and long-term customer loyalty. Ultimately, the modern subscriber-centric SMS platform should include:
- Core Subscription Management
- Billing and Revenue Management
- CRM and Complete Customer View
- Business Intelligence and Analytics
- Advanced Decision Moment Marketing
That’s all the tips for now – but next week, we’ll be looking at A guide to migrating to a subscriber centric approach, and the eight easy steps you can make to ensure success.
For more information on how to think beyond billing, our latest whitepaper looks at migrating your billing-centric system to a subscriber-centric system. Download it here.