In this three part series we are going to share with you the top three things to be considered when building out an MVNO.
Depending on your background, and who you talk to, there are differing opinions on what the nuts and bolts of building an MVNO consist of, it is all a matter of perspective. Based on BeQuick's years of focused experience in this exact area we will share this unique perspective from an industry leading MVNE's point of view.
There are three basic elements to create a successful foundation: Niche, Value & Reach.
In part 1, this post, we are going to discuss Niche.
WHO is your target market/audience?
First you need to identify your niche. To do so, ask yourself a few questions.
WHAT audience will you focus on?
HOW will your products and service features be aimed at satisfying the specific needs, price range, demographics of the audience that is intended to impact?
WHAT is a niche exactly?
A niche market is a subset of the market on which a specific product [service] is focused. The market niche defines as the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.
A few examples of niche markets or categories, and successful MVNOs, who found their niche, may help you determine your niche.
For example, Credo mobile very clearly targets individuals who believe in a liberal social agenda. Subscribers can use a charity to which a portion of their invoice will be donated.
Lycamobile, on the other hand, targets different ethnic groups with special international calling plans to specific countries. They have a global presence and are one of the world’s top MVNOs.
Now Puretalk is an example of targeting an entire segment just based on age. Puretalk targets seniors with custom tailored plans and even assists customers with picking the phone that is most compatible with their hearing aid.
WHY do you need a niche?
Well, there are some pretty big benefits that come along with focusing on a niche, such as control over custom marketing. With a customized marketing plan, you can establish a more personal relationship with your subscribers than the MNOs are able to have and you can offer unique products and services targeted at that niche group that add value.
Benefits of identifying a niche:
Allows for Targeted Marketing
Enables a Personal Relationship with Subscribers
Fosters Unique Products & Services
So how do you know which niche is right for your MVNO?
THE ANSWER: Any market that is presently UNDER SERVED!
Want to know when Part 2 is ready?
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