At any particular time, a significant fraction of prepaid mobile customers have low or insufficient account balance. At these times, the mobile service providers are particularly exposed to attrition as their subscribers look around for better deals prior to recharging their account.The mobile operators offer a number of services to help their customer communicate while they have an insufficient balance. These services are collectively referred to as low-balance suite.
What are the functions of a Low-Balance suite?
Industry studies show that 10-15 per cent of voice calls fail due to insufficient balance in a prepaid subscriber’s account. This results in loss of revenue for an operator and customer dissatisfaction. For an operator, maximizing revenues from voice traffic and minimizing any potential losses becomes important. To combat this, operators have launched the Low Balance suite. Typically, such offerings support a set of innovative solutions that help operators regain revenues lost due to insufficient credit balance.
Benefits of low-balance suite for operators
- Restore revenue leaks
- Enhanced customer experience, with always-on and seamless connectivity
- Lower Customer Churn
- Maintenance of ARPU
- Increase revenue
- Customer loyalty
Any threat can be converted into an opportunity and such an opportunity to reach out the mobile subscribers in order to extend support has been created by the low-balance suites.
The low-balance suites provide support to the customers and thus they help in building a loyal relationship between the service provider and the user. While there have been made a number of feature additions to the low balance suites, the latest ones also allow a user having a low account balance to reach out and request a call from a contact. And, thus the susceptibility for customer retention by the mobile service operators significantly increases its demand.
Extending emergency balance credit to the user accounts through the low-balance suites in the emerging markets has pushed the mobile operators towards a glorifying revenue scenario. Not only they have helped ensuring the users stay on the network and remain loyal to the operator but also they have supported the users with insufficient balance keep in touch.