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Make More Money With Your UCaaS 

Are you struggling to compete in the crowded market? Do you feel like you can’t make enough money selling your UCaaS solution? Then this blog is for you! The growth gurus here at P2P have compiled a few smart strategies to help Service Providers like you increase their profits and meet the evolving demands of your customers. So, without further ado, let’s dive in!  

Strategy 1: Specialize Your Services  

Competing based primarily on price is ultimately a losing game. That’s why the key to standing out in a crowded market is to offer industry-specific solutions with features that fit the unique needs of your end customers.  

Specializing will increase customer interest and allow you to charge a higher premium for the specialized services that you offer. Because most consumers – regardless of industry – are willing to pay a little more for solutions that guarantee increased convenience and top-notch customer service.   

But before you start specializing, be sure you know your area and what those businesses are looking for. This will help you:  

  1. Discover your “perfect customer” and   
  1. Effectively design the perfect UCaaS offering for them.  

Strategy 2: Make Sure Your UCaaS Platform is Scalable & Efficient  

This isn’t just for your customers to enjoy – it’s for you too! Because when your UCaaS platform is simple to scale and is operating at peak efficiency, it allows you to do two things:  

  • Give your staff the mental bandwidth to focus on securing new accounts and creating new revenue channels – not troubleshooting the phone system. 
  • Improve customer satisfaction.  

Here are some simple ways to make your UCaaS platform more efficient for everyone:  

  • Offer a self-care portal for enterprise customers. Many of your customers want a do-it-yourself portal. Why? Because it allows them to quickly and easily make changes to their service whenever needed. No more waiting around for help! This empowers customers and gives your team more time in their day.  
  • Centralize your virtual environments. It’ll make it easier to manage your customers, reduce time spent setting up new ones, and mitigate (or even eliminate) the risks of managing multiple environments.  
  • Integrate your UCaaS platform with other vertical-specific platform offerings via API.  

If you offer API integration into widely used platforms, information is automatically synchronized increasing employee productivity all around. This will lead to a better customer experience, ultimately resulting in more growth for your business!  

Strategy 3: Make Sure Your Profits Are Secure  

Making more money involves more than just earning more money. It also means making the most of the money you’re already making and spending less overall. Here are a few simple steps you can take to make sure your profit margins are as high as can be:  

  • Automate as much of your billing and customer management as possible. Automation reduces human error, which means you’re less likely to overcharge or undercharge your customers accidentally. It will save you time and help you avoid damaging your customer relationships.  
  • Link your billing and PBX platforms. By having a billing platform that can integrate with your PBX and take automated action to protect your revenue (and prevent any leakages), you can be sure you’re getting paid for everything you’re owed.  
  • Adopt a flexible billing system. Don’t limit yourself to packages that are “set in stone!” Give yourself the freedom to charge for additional features as your customers’ needs change over time – thus adding incremental revenue – keeping your customers happy, reducing churn and ensuring your business remains profitable. 
  • Keep track of profits by customer. Doing so will help you discover what types of customers and product bundles are profitable and which ones aren’t. Then you can divide your resources, update your offerings, or adjust your customer base accordingly.  

Strategy 4: Never, Ever Limit Yourself  

Now that we’ve talked about making your UCaaS platform profitable in the present, let’s talk about how to make it profitable in the future.  

First, don’t pick a platform provider with licensing limits, or else you’ll find yourself turning away potential customers. Choose one with unlimited licenses, transparent prices, and a platform that can easily adapt to your needs.  

Second, keep an eye out for new revenue sources! Do your customers seem interested in two-way business texting? Are they clamoring for more contact center features? Then, by all means, start expanding. Just be sure to test them out with a trusted set of customers so you can iron out all the wrinkles. And who knows – you might have a winner on your hands!  

The third and last piece of advice is to stay open to new ideas. The communication industry is always evolving, so be sure you’re evolving with it, which brings us to our final strategy.  

Strategy 5: Prioritize Agility Over Comfort  

With the way this industry moves, a cutting-edge system this year could be considered outdated next year. It’s important that you listen to Bear Grylls (known for the television show “Man vs. Wild”) and “Improvise, Adapt, and Overcome.” Here are a few tips for doing it and doing it well:   

  • Reveal new ideas to customers quickly so you can get their feedback and take actionable steps ASAP  
  • Work with the right vendors, partners, and third parties to expand your business opportunities  
  • Share your knowledge & bounce your ideas off of others in the industry to help each other grow  
  • Make sure you update your cloud-based platforms and offerings consistently and without disrupting your customers  

Looking for Even More Money-Making Strategies? P2P is Here to Help!  

At P2P, we offer strategic guidance and support to help your business thrive. Whether you need help launching a new product, expanding your services, or staying ahead of the competition, P2P has the expertise you need to succeed. Contact us today to make our experts yours

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