What exactly worked for the successful leverage of OTT, as a greenfield option?
A greenfield OTT company takes time to catch up with the stalwarts in the business. When you’re new to the industry, there are a number of challenges that you need to overcome. But with challenges come opportunities.
In order to succeed in any new business, it always becomes easier if you have the right resources and features to support your business. Without the right direction and assistance, the challenges increase manifold and you’re left dealing with it all alone.
If you’re a greenfield OTT business, you don’t have to worry about walking the path alone. At Magnaquest, we provide some of the most important features that are necessary to leverage your business and make a mark for yourself in the market.
Important Features For The Successful Leverage Of OTT, As A Greenfield Option
Let’s explore the features that Magnaquest Sure provides for the greenfield OTT businesses in detail.
Any business that aims to have a large user base and successful leverage over its competitors needs to have a billing system in place. Simply handing out bills to whoever comes along is not an option. There needs to be a systematic process in place wherein the bills are autogenerated every billing cycle, without much human intervention, and sent to the users to ensure timely payments.
We, at Magnaquest, provide an efficient billing system support to greenfield OTT businesses where we ensure the following:
- Supports simple, complex, and recurring subscription billing models
- Configurable pro-rata adjustments
- Multi-currency and taxation support
- Configurable invoice templates
- Supports multiple payment methods
- Pre-integrated payment gateways
- Handles payment failures
The way your billing system functions is vital to your OTT business needs. If your system takes care of every user’s billing cycle and ensures a smooth inflow of revenue without you having to intervene, you can focus your time on other important tasks and minimize the risk of human error.
A CRM solution is the backbone of a company providing digital services. Magnaquest Sure provides the following features in their CRM solution:
- Customer single view
- Prospect management
- Customer communication
- Handles trouble tickets
If you want to efficiently manage the life cycle of your subscribers, the best way to do it is through a reliable CRM solution. You can get all the details of your users whenever you want, and view their payment details as well as all the tickets raised by them at any given point in time.
You can also increase your revenues through our CRM system by acquiring more customers, owing to our well-synced follow-up mechanism. Your lead acquisition team can track the summary of each lead along with each action performed on the lead, helping you analyse and acquire better.
If this wasn’t enough, your users can log in and manage their accounts through the CRM software, view their order details, upgrade plans, and raise tickets from anywhere in the world.
You can also manage your scheduled campaigns by better user targeting through the same CRM portal. A multifarious solution that helps you perform the most important tasks associated with your business, an efficient CRM is sure to give you leverage when you’re starting out in this business.
As a new business, it can become daunting dealing with all your vendors like content aggregators, content providers, and other vendors related to your network needs. In order to be responsive and available to your users at all times, you must be capable of bringing in third parties into the picture whenever necessary.
Managing your relationships with your partners is an important aspect of a new business that requires a seamless flow. We help manage all your contracts with your partners with zero hassle and also take care of all the related billing details and other data.
The following features are a part of our partner management:
- Partner Contract Management
- Define partner hierarchies and hierarchy-based data access
- Define and couple locations for partners
- Partner billing and revenue settlement
In order to free up your time to focus on other aspects of your business, we take care of your partner management from start to finish.
Analytics and Billing Intelligence
You have your business running smoothly, what do you do next? In order for any company to do well and to expand, you must constantly evaluate what is working in your favour and what isn’t. In other words, you must perform a thorough analysis of all the business metrics to know where you need to improve or make changes.
We provide the following features in our Analytics and Business Intelligence software:
- Real-time dashboards
- Instant web reports
- Cost-effective maintenance and support
- Short implementation life cycle
Our dashboards give you an insight into the performance of your product, your revenues, customer complaints, campaigns, sales figures, etc. It also helps you calculate your churn rate, your monthly recurring revenues, and the lifetime value of each customer. This, in turn, helps you predict your future cash flows and plan accordingly.
Our business intelligence platform gives you access to real-time reports and graphs, wherein you can visualize the data from the databases and perform a thorough analysis and take corrective steps.
There are multiple factors that are responsible for the success of a greenfield OTT. While it is important for the company to cater to most of the organizational needs, there are a few that can be outsourced, saving the company time to focus on scaling up.
Some of the most important features that can help with leverage can be undertaken by companies like Magnaquest. Our main aim is to help grow the business for companies, especially when they’re new to the market and at a disadvantage with respect to their competitors.
The above-mentioned features are some of the most vital ones without which your business might struggle. Once these are in place, a lot of the other aspects of day-to-day functioning are taken care of.