Last week, we discussed choosing your target market for VoIP services. This week, we will review the different VoIP businesses available in the market today. Your choice of what to sell and promote will have a lot to do with your target market. Another factor to keep in mind is your or your team’s technical experience. Having the ability to install, maintain, and handling the equipment required to operate each type of service. Some services require end user equipment while other services do not. It is best to figure out where you can differentiate your service, features and pricing to provide a competitive advantage.
Single PSTN line replacement for residential or business is the most common VoIP service being offered. There are many national as well as local providers offering this service. Service providers will typically provide both inbound and outbound service for a flat rate per month. This service is the most common and normally requires some type of end-user equipment. Customer will typically choose this service for the cost savings benefits.
SIP trunks are a PRI replacement service, allowing businesses with existing premise based PBX’s, to take advantage of VoIP’s pricing and calling features. With a PRI, customers typically buy 24-ports per PRI but with SIP Trunks the customer can pay for only the ports or minutes used, which results in a huge savings. SIP Trunks are one of the fastest growing sectors in the VoIP industry today.
Hosted PBX is by far the most robust and feature rich services out of the group. It eliminates the need to have a premised based box and provides a full cloud solution. The ITSP will typically have the PBX servers in a collocation facility and the phones will typically connect to those servers via IP authentication. Features for this service typically include auto attendants, hunt groups, extension dialing, schedules and many more features.
Calling cards have traditionally been used by households and travelers that don’t have access to long distance or attempt to get better pricing through their use. It is one of the most lucrative markets that provide very good margins. Providers typically distribute via a physical card or online pin codes.
Mobile and Cloud Applications
Mobile and cloud applications are gaining popularity. Such applications include services like voicemail only, call forwarding services, auto-attendant service, etc. It is estimated that the number of mobile devices will greatly exceed the number of computers in the near future. Some of the most popular applications include the use of soft phones with SMS service. As faster wireless service becomes available, there will be a trend of ditching the traditional equipment and using your mobile device for most voice and data activities.
This list is a good starting point if you are currently looking to sell some kind of VoIP service. Whatever service you decide to sell, you need to look at equipment and service. Make sure you are selecting scalable, efficient and robust equipment to handle growth and traffic. Likewise, your carrier should provide great quality and a great BackOffice.
Nick Medina is VP of Business Development for VoIP Innovations, an Inc. 5000 company. VoIP Innovation provides wholesale VoIP and Private Label VoIP services to over 1,000 carriers, resellers and service providers across the world. They specialize in providing the largest DID and termination VoIP footprints in North America. Their network includes over 500,000 DIDs in stock in over 8,500 rate centers in the US and Canada. Recently, VoIP Innovations expanded their footprint to include DIDs in over 60 countries and now offers A-Z termination. VoIP Innovations is owned by ABG Capital and is based in Pittsburgh, PA. To learn more about VoIP Innovations, visit them at http://www.VoIPInnovations.com.