VoIP product and service resellers absolutely love having upsell opportunities.
It doesn’t just give their business more revenue opportunities, but it’s also a huge boon to their customers; as they can get more of the solutions they need from people they trust.
Many resellers, even the ones in business for decades, aren’t getting everything they can out of upselling opportunities.
Let’s take a look at 7 reasons upselling is a VoIP reseller’s dream!
Control of Overhead
Overhead and inventory can be a big problem that many businesses have to battle.
Overhead is monthly expenses your business has to pay regardless of how much you do in sales.
Inventory are goods a company buys from a wholesaler (usually at a stellar price with a bigger quantity order) and hasn’t sold to their customers yet.
Too much overhead with not enough sales can become a huge financial sinkhole.
Carrying inventory of products not yet sold is also a huge financial burden.
But with VoIP, you don’t need a lot of overhead and you don’t need to have phones and other goods ready for upselling to make a profit.
This allows smart businesses to control how much overhead or inventory “risk” they can handle, never overreaching that could lead to ruin.
Uniquely Serve Customers
Most VoIP customers are eager to find that perfect fit.
They want a reliable, consistent, and secure network; day in, day out.
Once they find that fit, that’s going to be a customer for a long, long time. And the customer is usually happiest about that!
They finally found a company they can trust! That trust means so much to them.
When that trusted business starts adding top-of-the-line phones and business improvement services and features, they can act (and buy) with confidence.
Otherwise, without that trusted partner, they may not feel comfortable adding goods and services that can let their own business grow.
More Recurring Revenue
Recurring revenue is one of the most attractive aspects of reselling VoIP services.
As long as the services maintain quality and usefulness, VoIP resellers know that’s a paycheck at the end of the month. Even if they happen to be on vacation.
When you’re able to upsell even more monthly services, services that help customers grow their business, you’ll just see that monthly paycheck get bigger and bigger.
(which can be used to add more opportunities and absorb more overhead!)
Better Relationship with Provider
The relationship between provider and reseller is vitally important.
When the two have a long history working together, they form a better relationship.
It’s not uncommon for providers to truly listen to their best resellers, the people at the ground floor seeing what the industry needs and what changes are coming.
Imagine seeing a similar problem with most of your customers and bringing that to your provider. They are quick to find a solution that you can now bring to your eagerly awaiting customers.
Without the relationship, that may not happen. And the more you’re interacting with your provider, seeing what upselling opportunities are available, and having discourse, you’ll just naturally develop a healthy, long-term business relationship.
Variety Means Safety
The business world moves fast. And VoIP moves faster.
But that doesn’t mean your business should rest on its laurels.
The more trusted products and services you have – variety – the more avenues there are in which to do business and grow.
If there is a fast change (like maybe a world pandemic happened, forcing the majority of the workforce to be at least partially remote), you’ll have more products and services ready to go to LEAD the market, not follow it.
To put it simply; variety makes your business more resilient.
You Can Be More Aggressive
As your business grows and you safely add more upselling opportunities to your list of goods and services, you’ll be able to pursue unlimited opportunities that spring up ahead of you.
Getting a new client and having a solution available and READY to go for each of their problems can turn them into your biggest client. In a snap, they go from just a few seats to a whole new communication, security, and network system.
Not Time Sensitive
You don’t need to have any upselling products lined up when you start a business.
You can start a VoIP reselling business for a really low initial investment. And you can grow your business slowly and surely.
And then, once the business is established, you’ll have a great idea of which upselling opportunities you should add first and then present them to your big list.
In some businesses, waiting too long can take the value of an opportunity to zero. But with VoIP, you’ll be building potential value all the time, meaning when you do act, it’s still that big boon that your business needs.
Upselling, when you do it right, is a dream come true for VoIP resellers. You’re able to give your customers valuable opportunities when it’s best for both you and them.