Over the past 10 years at Fortumo, we have seen significant changes take place in the content and entertainment industries. It started with the shift from feature phones to web-based businesses and then to social networking and gaming. Soon after this came the boom of mobile apps.
Now, the market is shifting towards digital content and a subscription economy across all platforms. This means the market size, complexity and breadth of merchants to address have all increased significantly.
Digital merchants we work with operate in a very competitive and quickly changing environment. The environment requires companies to be flexible, adoptive and willing to learn new things to succeed. It also means that in order to be a good partner, Fortumo needs to share the same principles and provide new turn-key solutions that help our merchants to expand and grow.
We want our existing and future merchants in the digital ecosystem to become as successful as possible in their business. In order to help them achieve this, we have extended our platform reach to solve user acquisition, monetization and user retention issues which are all vital for growth and expansion. Over the course of the past 12 months we have launched bundling and messaging services that are now part of the broader Fortumo platform.
What’s the reason for these launches? There are two key things that stand out to me:
- Telco channels for discovery, identity, billing and retention are increasing in importance for merchants as the shift in favour of mobile-first emerging markets continues; this means merchants need a scalable approach in order to utilize these channels as efficiently as possible
- (Payments) revenue is a crucial part of the success of our merchants; at the same time, what happens before (acquisition and authentication) and after (retention) is equally important to them
Simply put, with a combined solution for user acquisition, monetization and retention, we are able to service our digital customers better as their reliance on telco channels grows. Less time spent on contract negotiations, technical integrations, product configuration and customer support means more time to focus on the growth of their core business.
At the same time, things are also changing on the telco side. Calls, messaging, data and carrier billing isn’t going anywhere, but most telcos see additional services that enable a digital lifestyle as being crucial to their future success. This means that not only are merchants becoming more dependent on telcos: the reverse holds true as well.
While the interdependence grows, most organizations on both sides are built up in a way where different teams manage acquisition, monetization and retention. At the same time, these user lifecycle steps are heavily influenced by one another and more collaboration between teams managing these steps will be required in the future. At Fortumo, we are doing our part in making that happen by giving both sides an all-inclusive solution to tackle their challenges.