Telecom is a highly-profitable, very attractive business — and that is exactly why it is also highly-competitive. To succeed, your business needs to outshine competitors. Here’s five ways to do this.
1. Who is Your Customer?
This is a question to ask in the planning phase of your business. Planning starts early, but continues all throughout your business lifecycle. Define who your target customers are by looking at the types of businesses in the geographies you wish to serve. What specific needs do they have? Mobility? Flexibility? Something else? Once you develop a plan for a specific industry vertical, can the same tactics apply to others in similar businesses? For example, hospitals, hotels, and lawyers might all have similar needs.
2. Stop Competing on Price
…and start competing on value. Target the customer willing to pay more for a good fit, rather than the ones who jump onto the lowest price. Those customers will leave you as soon as something cheaper comes along. Instead make customers feel that what they get is worth paying a little bit extra. Create a Silver/Gold/Platinum range of offers with real benefits for added cost (and profits). Clearly define why your services are better and make sure your customers can explain this to their colleagues and contacts so that your business can grow with customer referrals.
3. Constant Innovation
In any area of technology, what was cutting edge long ago may now seem like a dull blade. Adding new and exciting capabilities is key to the value we discussed earlier. Innovation means leading, not following. Be the first (or one of the first) to offer hot new features. If you are the last to offer something, you will miss opportunities during the time that your competitors had it and you did not. Innovation also gives you the opportunity to create a constant drumbeat of news announcements to keep your brand visible. Keep customers checking your site just to see what’s new. Make sure your sales, marketing, and support teams know how to explain the benefits of each innovation.
4. Strategic Upcharges
Strategically adding upcharges is a benefit of the constant stream of innovation we just discussed. Create add-on capabilities that customers will be willing to pay a premium for. Even if just a few dollars per month, premium prices will add up over time. Use strategic upcharges correctly, and you will never have to merely raise prices again. Instead, your price increases become “opt in” choices your customers make on their own whenever they add something new. Keep your customers opting in, and they are less likely to opt out for a competitor.
5. Support
Support is one of the most important aspects of building loyalty among your customers for the long term. Even the best-run businesses experience issues periodically. New customers (or new employees who join old customers) require more hand-holding even when there are no issues. For them it is a learning curve, and your support is what gets them through it.
Request Info ?
Telinta offers the tools you need to build a successful business that will outpace your competitors.
Our wide range of hosted VoIP solutions enables you to target any customer type in any part of the world where VoIP is available.
Our highly-reliable TeliCoreTM platform gives you a superior offer that you can easily customize to meet your customers’ unique needs. From brandable softphones, to highly-secure encryption, to sophisticated AI integration – Telinta helps you to succeed. Our unique award-winning Virtual Office self-service Hosted PBX combines a wide variety of cutting edge features all in one white label solution.
With Telinta’s flexible real-time billing, you can easily add premium charges for specific capabilities and earn incremental revenue. With just a few clicks, you can create the tiered pricing plans you need to fit any size customer. In fact, Telinta’s own pay-as-you-grow pricing plans are tiered so that Telinta customers enjoy volume discounts over time where your cost per minute drops.
To help you get started, Telinta offers comprehensive training. Our 24×7 technical support is available every day of the year.
How can Telinta help your business succeed? Contact us today.