The widespread availability of Wi-Fi-enabled devices—including smartphones, PCs and tablets—has led to enormous demand for reliable and cost-effective Wi-Fi services across the globe. As a result, operators are refining their strategies and deploying Wi-Fi networks in greater numbers to help grown their bottom line. Monetizing Wi-Fi, therefore, has become a huge priority.
The technology provides a huge opportunity to operators; according to a recent report from MarketsandMarkets, the global Wi-Fi market will be worth $93.23 billion by 2018. With such projections, it’s no wonder operators are looking closely at and implementing various Wi-Fi business models. According to a recent report from Infonetics Research, the fastest-growing monetization models for Wi-Fi services are:
- Tiered/premium hotspots, where users pay a premium for higher-speed data
- Managed hotspots, where a service provider owns the network and manages services for building owners, businesses and others looking to get into the Wi-Fi game
- Wi-Fi roaming, which allows users to roam between different hotspots and wireless networks seamlessly
However, many operators aren’t relying only on paying users to grow their business. New revenue opportunities also exist in the form of advertising based on a user’s specific location; partnerships with retail outlets or hospitality locations that want to provide value-added services to their customers that is venue- rather than customer-paid; promotional deals for customers that buy additional services from the operator; and innovative capabilities such as app-based push notification services based on location that might offer users a discount on a nearby restaurant.
Creative operators are finding new ways to monetize Wi-Fi services. Regardless of the business model the operator chooses, being able to provision these sophisticated types of services is a requirement. Operators require a flexible platform that allows them not only to create packages and promotions but is configured specifically with the goal of helping them creatively monetize services such as Wi-Fi.
Elitecore’s Wi-Fi Service Management Platform (SMP) provides a comprehensive solution that caters to the emerging demand of Wi-Fi and provides quantifiable business value to operators by offering various innovative business models. To learn more about how Elitecore can help you monetize Wi-Fi for your business, click here.