Wholesale VoIP Featured Article
Three Simple Steps to Selling VoIP Services Offered from America's Largest Wholesale VoIP Provider
For those who are excited or looking forward to soon launching their new VoIP business, the New Year represents a clean slate full of unlocked potential and possibilities; however, in order to get a foothold, they must understandably turn to an industry-leader for some help. None of the greats get to where they are without at least a little bit of guidance, and this is where heavy hitter VoIP Innovations (News - Alert) comes into play.
This week, America’s largest wholesale VoIP provider released part one of a three-series whitepaper detailing how to sell VoIP services, where VP of Business Development Nick Medina discusses how to best choose a target market.
Medina begins by explaining that when working with hopeful providers, many are extremely focused on the technical operations of business. “However, when I ask who their target market is, I quite often here, ‘We are hoping to signup everyone that needs phone service.’ Unfortunately, hope is not a strategy.”
“As competition increases and barriers to entry are reduced, entrepreneurs need a strategy that guarantees a steady stream of customers,” Medina explains. “So rather than focusing on the product itself, it is sometimes a better strategy to take a step back and focus on your target market. But how do you determine who your target market is?”
While it is obviously most advantageous to build off of an existing customer base by providing a new product or service, it isn’t such a pretty picture for newbies or those starting from scratch. Don’t fret, though, because Medina’s got you covered with the following simple steps:
1.) Determine if you have access to a niche market: “Your goal is to find a market that has not been bombarded with VoIP services or where you can market more cost effectively than your competitor,” Medina writes. “Your goal is to reduce your customer acquisition cost. Perhaps you belong to a social group and you believe that you can sign-up 10-20 new customer per month. You could test the market by starting with that one group, and as sign-ups increase, you can expand your marketing to other groups. There are hundreds of niche marketing markets to target. The key is to get as specific as possible and make sure your target has a need for your service.”
2.) Determine your sales and marketing delivery method: “There are hundreds of marketing scenarios that include direct mail, radio, TV, online banners, AdWords, e-mails, advertising in niche trade journals, door-to-door sales, tradeshows, cold calling, partnerships with complementary businesses, MLM, agent program, etc.” Medina explains. “Whether you use one or a combination of any of these marketing techniques, it is important to choose the one that will result in the highest amount of sign-ups for the lowest amount of money. This is why tracking your results is an important part of the process. This information will help you determine the most efficient and most cost efficient marketing program.”
3.) Think outside of the box when choosing your niche group: Yes, this is an extension off of number one, but it is what Medina calls his “most important advice,” saying, “The most successful and highest growth companies have been those that have focused on a vertical market and provided features and benefits specifically for that vertical. Sometimes the best vertical is the one you have had experience with.”
In conclusion, Medina offers this last slice of advice: “Bottom line is that pricing is not the only factor when creating your product. Remember that value is benefits minus cost (Value=Benefits-Cost). Consumers make a decision on services based on product, price and marketing. You don’t need to be the leader in all three in order to be successful in selling VoIP…As an entrepreneur, your focus is to find what pain points exist in the market and address them. Remember, the more people you can help, the more successful you will be.”
Now that you know how to ideally sell VoIP services, stay tuned for part two of this whitepaper series, which will focus on choosing what VoIP services to sell.
To learn more about VoIP Innovations’ offerings, visit www.voipinnovations.com.
To find out more about VoIP Innovations, visit the company at ITEXPO Miami 2013, taking place Jan. 29- Feb 1 in Miami, Florida. Visit VoIP Innovations in booth #507. For more information on ITEXPO (News - Alert) (News - Alert) Miami 2013, click here.
Edited by Rich Steeves