VoIP has been a money spinner for small scale service providers over a long time now. Triggering the evolution of VoIP technology is the rapid development of smartphone technology and communication networks. Though local regulatory norms have put a break on the expansion of VoIP business, governments and people have realized its potential for having high-quality communications at unbelievably lower rates. In fact, effective communication has been one of the major deciders in the scaling up of backward economies. All these factors have put VoIP on center stage offering numerous business opportunities for service providers.
Although VoIP business seems to be lucrative, things can go wrong if service providers forget to get the basics right. Here are the 5 golden rules to know before venturing into any VoIP business.
1. Learn the local regulatory norms
Before venturing into a market place, it is a good practice to learn the local regulatory norms for smooth deployment of VoIP networks. In some countries, VoIP is blocked due to political and financial reasons. Another major hurdle is from telecoms who fear revenue loss by allowing VoIP as alternative means of communication. So, analyzing all these challenges a service provider has to run a customized VoIP business that suits the local regulatory norms and preferences. That said, an increasing number of countries have now relaxed their regulatory norms allowing VoIP based communications but with certain riders. So, it’s safe for service providers to assume an increased demand for VoIP market in these countries in the near future.
2. Get software and hardware from the right solution vendor
VoIP business could become a pain when not managed with the right mix of hardware and software. Read reviews and reports about the best VoIP software and get a free demo if possible from the solution vendor. If the VoIP software has all the features and functionalities required then service providers can lock-in with the solution vendor to get started with their VoIP business. The main advantage in going by the right VoIP solution vendor is the credibility of the VoIP software which in turn ensures business continuity for service providers. Based on the business requirements, service providers can either go with on-premise or hosted business models.
3. Buy VoIP routes from credible route providers
To offer maximum customer satisfaction, service providers should avoid sourcing cheap or grey routes from international route providers. Obviously, good routes would cost more but it’s worth it. As the best practice, service providers should source multiple routes for each destination so that they can switch between the routes depending upon the target customers. As a word of caution, it is suggested to engage with certified route providers only.
4. Take customers into confidence
Sometimes, a particular segment of market would need only a particular type of VoIP service for meeting their communication needs. So, service providers should take customers and their needs into confidence before rolling out their VoIP services. Always a personalized and customized VoIP service would fetch more customers.
5. Don’t stop; keep evolving the VoIP services
Service providers shouldn’t limit themselves with certain types of VoIP services only. With changing times, service providers should evolve their VoIP services by offering VAS (value added services) to making it a compelling experience for customers. Voxvalley’s next generation mobile VoIP solution and VoIP softswitch enables service operators to deliver VAS that boosts revenue and customer satisfaction.