Identifying profitable new applications
Deciding which new products or services to introduce is rarely straightforward. In an industry dominated by changing technology, too many new services are chosen for their technical elegance, or to satisfy a senior manager’s wishes and preconceived ideas, rather than by an objective assessment of the business case based on research and analysis of the market and the resources required.
Faced with declining revenues from core voice and data services, mobile operators continue to search for additional sources of profitable revenue. Success in identifying suitable potential services is a critical element in this process. Once brought to market, chosen services must be promoted effectively to ensure that they generate the levels of income desired.
My recent report Identifying, Promoting and Monetising New Applications describes a proven process for identifying new services that relies on a structured and analytical approach, together with some useful techniques for facilitating the process. It reviews a variety of entertainment, finance, health and retail services and service packages being delivered by operators including NTT DOCOMO, Millicom, Orange and Telenor, and considers the measures taken to promote them, the extent to which they are monetised and their effectiveness in delivering positive results for their businesses.