With smartphones and other portable devices now in the hands of most UK consumers, companies are understandably keen to find new ways to deliver tailored offers and advertising to them. Telecoms giants Vodafone, Telefónica O2 and Everything Everywhere (now rebranded as EE) each wanted to be the first to turn this aspiration into reality. They realised that their proposition would be more powerful as a joint venture (JV).
Aware of the dauntingly high failure rate of this kind of JV, the three companies drew upon our expertise. Faced with a unique and complex set of commercial, financial, technical, legal and competition-related challenges, we set about designing and developing the m-commerce proposition, helping them stay on track through the EC approval for the venture and ultimately launching the business.
Taking a JV approach helped our clients to create a consistent and scalable product where otherwise three different and fragmented solutions would exist. Pooling their resources also meant they could create the venture faster, taking just four months after EC clearance, and at a third of the cost of going it alone.
The JV launched successfully in November 2012, and now offers a simple and effective solution for advertisers, brands and retailers to reach their customers on the move, and will soon allow people to manage their money on their mobiles and for banks to give their clients an easy and convenient way of making payments.