First, consider the potential market. The numbers vary based on their source as well as the very definition of the VoIP market, but they all look highly favorable. According to one source, global demand for voice over internet protocol (VoIP) services market is expected toreach above $140 billion in 2021. That’s up from approximately $83 billion in 2015. It is anticipated to grow at a CAGR of above 9.1% between 2016 and 2021.
The numbers are comparable in the latestreport published by Persistence Market Research. It stated that the global VoIP services market was valued at $85.9 billion in 2015, and is anticipated to increase at a CAGR of 9.5% over 2016 - 2024, to reach $194.5 billion by 2024. In yetanother study that narrowed things down to the global mobile VoIP market and the CAGR between 2016 and 2020 is expected to be 28.47%.
No matter which study you go with, it’s clear the market is growing and likely will continue to do so for a long time.
There’s a good reason the VoIP market looks so strong: low total cost of ownership (TCO). VoIP technology enables data traffic and voice communication traffic integration into a single network to reduce the TCO associated with a combined voice or data network. Integrating multiple media types, such as voice, data, and video, into a single network eliminates infrastructure and maintenance redundancies. That, in turn, helps lower capital and operational costs.
Also appealing to prospective VoIP customers are factors such as low maintenance cost with higher flexibility and minimum staff support. VoIP also offers low-cost international calls, and roaming calls, without the need for extensive infrastructures such as PCs and DSL modems. In the past few years, international VoIP phone calls were largely responsible for driving much of the revenue generated and the number of VoIP users. That probably won’t change any time soon because VoIP phone services make long distance calls affordable, while mobile phone plans make domestic calling accessible.
The Reseller Benefits
The market is there, but what’s in it for you as a reseller? For one thing, white label VoIP programs make it easy to tap into the VoIP market. For example, building your own hosted PBX platform from scratch is expensive, can take years to develop and requires extensive knowledge. Go with a VoIP platform that is already established and reputable, and you’ll have a much quicker time to market.
Instead of dealing with the hassle of developing a hosted PBX, you can begin reselling an already developed and fully managed VoIP platform that has been fully tested. In addition to the lower upfront costs, white label VoIP programs are easier to manage over time. That allows you to keep overhead costs down while you start earning profits right away.
There’s also the matter of keeping pace with technological advances and changing business requirements. That all falls on the shoulders of the VoIP service provider.
All you need to do is make sure you are up to speed on the technology (the service provider you choose to work with will help make sure that happens); know how to position the benefits so that your customers understand the value as it relates specifically to them (the service provider can help with that too); market the service (yep, the service provider will probably have training and sales tools for this); put your label on it and sell it.
On the subject of what the service provider can do for you, there’s another big advantage. White label VoIP provides you a fully developed platform that integrates selling, delivering, managing and invoicing into its system, so most of the work has already been done for you. You don’t have to build the VoIP service, and the service integration aspect makes it easy to manage the sales process end-to-end.
With white label programs, you also can determine your own pricing and margins. You maintain ownership of the customer relationship, which allows you to build your business, your brand and customer loyalty.
Start Here. Start Now.
As the statistics cited at the beginning of this post indicate, there’s a strong market for VoIP sales. The companies best positioned to take advantage of the market potential are those that can get ahead of the services customers want. That’s what white label VoIP sales programs enable. There’s no time like the present to get in on the action.