India's smartphone user base growth story is something that has been talked about a lot over the past year or so. The country will have more smartphone users than developed countries such as U.S by 2017. In fact, according to an AT Kearney estimate, by 2017, 80% of users in India will access internet via smartphones.
For these smartphone users, everything they do in their digital life today revolves around a smartphone. Today, it is not just about connecting with friends over social media, playing games or watching videos on smartphones. These users are now transacting more on their smartphones, recharging services, shopping online, booking a cab or movie tickets, ordering food among other activities. Every transaction that went from physical to digital is today being carried out on smartphones.
This has led to a tremendous jump in mobile users transacting via mobile internet and this figure is only expected to go northwards. Estimates suggest that the number of mobile users transacting online via smartphones will grow nine-fold by 2018, crossing 150 million.
This spurt in transactions on mobile will drive a huge growth in online recharges and activation along with content and services, which are expected to hit a combined revenue growth of 6.6 Bn USD by 2017. This is where Telcos have a big untapped revenue potential to tap into.
However, to do so, they must engage these users where they are: accessing apps and sites on smartphones. The key is to find the right user and provide him with a relevant offer. But today it does not end there. Besides relevance, simplicity and convenience are also very important. It should be easy for the user to transact without moving away from the current experience. Staying with the user through his entire journey, right from intent to purchase, is the perfect approach for Telcos to leverage this growing opportunity.