In recent years, it’s been seen as ‘normal’ for a business with a public space to offer guest WiFi. In fact, many people assume that it’s just a basic offering so if you’re not providing some form of connectivity to the internet, they may take their business elsewhere.
However, businesses may not realize that they can have complete control over the WiFi they’re offering, and even use their network as an additional stream of revenue.
In this guide, we’ve shared three ways that you can monetize your business’ WiFi bandwidth, as well as simple techniques on how you get can the most out of your free guest WiFi network:
Why Is Guest WiFi Important?
Because having access to the internet is a basic expectation for many customers, you may miss out on business if you’re not offering some form of connectivity – no matter whether they’re using stadium, restaurant or hotel WiFi.
You should always aim to provide a good level of connectivity between your audience and the internet. If not, it’s likely that people will opt to use their own mobile network. When this happens, your business misses out on the opportunity to promote your business through this channel, collect customer details or monetize the network.
Monetising Your WiFi Bandwidth
The WiFi bandwidth that your business uses allows you to manage internet speeds and durations for your customers. This means you can ask customers to pay additional fees to access faster internet or to connect for longer periods of time.
Offer Limited-Time Free Connections
[pullquote]One of the simplest ways to encourage customers to begin using your WiFi network is to offer free connections for limited periods of time, such as 30 minutes.[/pullquote] Then, once this period has passed, the customer will need to pay to access the internet.
By ensuring that the speed of your WiFi connection is of a good standard, you can increase the likelihood of a customer giving up their cash to connect to it. Plus, by asking users to sign up and enter their details, you can retarget these people when promoting and marketing your brand in future.
Offer A Premium Service
You can use your free guest WiFi to offer a premium service. This is done by limiting the WiFi bandwidth speed for those who haven’t paid to connect and encouraging customers to upgrade their connection for faster internet speeds.
Considering that slow WiFi was named one of the biggest forms of ‘tech rage’, there’s no doubt that this model is a great way to start monetizing your bandwidth!
Add Promotions To Your Splash Page
Whether you’re offering limited-time connections or a premium service to access better connectivity speeds, you can make a few tweaks to the sign-up form (often referred to as a “splash page”) that your customer lands on when signing up to monetize the bandwidth.
Adding promotions is the simplest way to do this. Space on your splash page can be used to promote new products or services and as a result, you can generate more revenue through up-selling your other products.
As you can see, monetizing your business’ WiFi bandwidth is much simpler than you may have thought. Plus, with the option to up-sell to your customers and improve their satisfaction on your network, you could be enjoying the additional revenue stream in no time!
For more monetization tips and information here on Bit Rebels, click here!