How to increase your business share of wallet
Mobile virtual network enabler MVN-X reports 50% growth year on year for 2018/2019
While Tito Mboweni’s recent budget speech got mixed reviews and economic growth continues to stagnate, there is a glimmer of hope for businesses and brands with a large recurring customer base looking to increase their wallet share.
Enter the flourishing telco sector and most notably the mobile virtual network operator (MVNO) industry, which, according to the global Market Watch, is projected to see a compound annual growth rate of 8.8% from 2018 to 2023.
Here in SA, mobile virtual network enabler (MVNE), MVN-X, reported 50% growth year on year for the 2018/2019 period. About this positive growth CEO Valde Ferradaz says: “We’re helping our clients get to market fast as MVNOs, with the same capability and at times even better agility as a standard mobile operator.”
An MVNO is a wireless or virtual communications provider that does not own the wireless network infrastructure over which it provides services. MVN-X’s current MVNO clients include Standard Bank Mobile, Mr Price Mobile and Clientele Life, whose customers can now get mobile connectivity through the services they provide.
As an MVNE, MVN-X is an end-to-end turn-key service provider that makes this happen for would-be MVNOs.
Ferradaz and his team are expecting this sector to grow so they’re optimising their offering and technical capability to capitalise on this expanding market.
“We’ve partnered with global innovators, Cerillion, and are implementing a convergent tier 1 charging system that will allow our customers to go to market quicker and differentiate themselves through product innovation and customised value propositions,” he says.
What does this mean for would-be MVNOs?
By becoming an MVNO, companies are better positioned to enhance their value proposition and enrich their offering by giving their customers great service, flexible connectivity at competitive price points and extended value-added benefits.
For consumers this is a win-win situation where their data and connectivity is more readily available, and they are now buying in a convenient one-stop-shop environment from a brand they already know and trust.
Ferradaz says: “I really do believe this is good news for brands and businesses who are looking to increase their share of wallet and basket size.”
This article was paid for by MVN-X.