While residential revenues decline, service providers see growth in business markets.
Residential service revenues are falling and will continue to do so. At the same time, revenue from business services is growing – and business users are adopting hosted services in ever-increasing numbers. Take action now to invest in growth opportunities and prevent further falls in revenue.
If you are challenged by falling revenue from residential or retail customers, then there are lessons to be learnt from research published recently. Data from analyst firm IHS Infonetics reveals that, while revenue from residential VoIP services has declined, this has been compensated for by increased growth from the provision of business services.
This means that, if your business is mostly focused on residential or consumer customers, you need to take action. As operators have struggled to turn the tide in consumer markets, it’s obvious that they need to refocus on business subscribers as a source of new revenue and as an opportunity for future growth.
In fact, the same research also highlights a huge 30% increase in the number of users of cloud-based, hosted business UC and PBX solutions. Forget about reversing the decline of residential revenues – it’s a battle you are unlikely to win, but instead turn your attention to the business market.
The business market is the obvious source of future revenue growth. It’s growing, as business customers opt to choose cloud services over traditional, legacy delivery models and, best of all, people continue to talk. The won’t stop doing so, either – which means that service providers can capitalise on something at which they excel (voice service delivery) by supplementing this with advanced call management services, such as UC or hosted PBX.
This creates a new source of recurring revenue while delivering something that will meet the needs of more business customers. As conditions become ever more challenging in consumer and residential markets, service providers must take action. The evidence is clear: business users are flocking to hosted solutions and service providers are well placed to capitalise on this demand.
The question is, how do you do that? Well, why not learn from your peers? We can show you how service providers have launched compelling business offers, based on the Easy Communications Suite. We can tell you how our customers have been successful, what has made the difference and how to get to market. Talk to us and find out more.