All In Guide: Reselling SIP Trunks For Profit
Are you in the telecommunications reselling industry? Do you plan to explore an SIP trunk, SIP resell business? If so, there is so much potential waiting for you.
The Session Initiation Protocol or SIP trunking market continues to grow. From a market size of $6.88 billion in 2017, experts predict it will surpass the $12 billion mark by 2023.
Moreover, a study also projected a 25% growth in SIP traffic by 2024.
Patrons come from different sectors such as government, banking, education, and healthcare. The same thing goes for sectors like retail, manufacturing, travel, logistics, and multimedia.
With the huge earning potential for resellers, it is easy to dive into the SIP trunking business. However, there are important guidelines and valuable lessons you must learn to succeed.
Continue reading below as we give you a comprehensive guide in becoming a SIP reseller.
SIP Trunks: How Do They Work?
Before we tackle the reselling part, let us first discuss what a SIP trunk is. What is it and how does it work?
SIP is the main format people use in IP telephony. It is also the key protocol that establishes voice over Internet Protocol (VoIP). The VoIP covers conference calls, simple voice calls, and anything else in between involving two or more parties.
As for SIP trunking, it sends voice calls through various data networks. These networks include the internet and the enterprise LAN. SIP trunking also eliminates transmission of calls and video images using dedicated circuit-switched networks and traditional copper lines.
This, in turn, opens up many benefits. Businesses can reduce their long-distance charges. They can even enjoy local rates when making international calls.
Additionally, SIP trunking keeps users from spending on the capacity that they do not max out.
Finding the Right Reselling Program
If you are to enter a SIP trunk business, you also need to find the right reselling program. You want to partner with a company that provides the best tools and the right amount of support you need.
You want to connect with someone that offers a solid platform. Here are some valuable features you need to look for when choosing a partner:
First, look for a platform that features Tier-1 infrastructure. This will ensure that your customers enjoy good audio quality.
The platform must come with built-in redundancy with real-time replication. This will keep your customers from experiencing problems regarding availability. Additionally, the partner must backup equipment and detect outages.
Though SIP trunks are generally more affordable, you must still look for a program that offers flexible rate plans. Make sure that the monthly fees include free long distance as well as local calls within the country.
Also, find a program that allows companies to pay for minutes in blocks. Additionally, the program must adapt quickly in case it grows and requires moving their minutes to other channels.
Top-notch Customer Support
Last but not least, go for a partner that offers top-notch customer support. There will be times when clients will encounter occasional technical problems. Thus, you need to ask your prospective partner regarding the kind of support they offer.
Find out the hours they can provide support. How much will they charge for these?
Things to Avoid in a SIP Trunk, SIP Resell Business
Even if you have a lineup of fantastic marketing strategies, your business will not soar if you commit crucial mistakes. Here are some of the most important things you need to avoid when reselling SIP trunks.
A wrong approach when connecting with prospective clients is one of the most common mistakes to avoid. This happens when your approach is too broad that you fail to adjust for each client.
For example, you already have a sales pitch that you mastered and memorized. That is good, but only to a certain extent. You need to get a feel of what each client wants.
Thus, you need to tweak your pitch and insert important details that will matter to prospects. Keep in mind that what is important for one may not be the case for another.
Get to know the client first and adjust your sales pitch accordingly.
Focusing More on the Product
Sometimes, resellers tend to focus more on the product instead of the solution. As we mentioned early, different things matter to different people. Some customers value product features.
Others look more at the management and ease of setup of the product.
Thus, you need to put more emphasis on the solution that your product offers. What you want is to pinpoint the specific problems of your customers. Find out their struggles and how your product can provide a solution.
Failing to Listen
In line with presenting solutions, you must also learn how to listen to your customers. This means letting them talk during the sales process.
It is normal for resellers to do most of the talking during a sales conversation. But doing all of the talking will hurt your business more than it will help. Hence, you need to give your clients ample time to ask questions.
You need to let them inquire about your product. You need to make them tell you what they need.
The key is to actively listen and respond accordingly. From there, you will learn more about your prospective clients and serve them much better.
Missing that Gentle Follow-Up
There is also the mistake of not doing anything when your interaction hits a dead end.
There are times when you encounter prospective clients who are so excited about your product. They will ask for various marketing collaterals and request for additional information.
In turn, you will provide all of these and more. Then they stop communicating and your conversations die. The phone call or SMS you are expecting doesn’t come.
To remedy this, you need to provide opportunities for them to get in touch with you. Start by sending them a quick email. This works best if you need a certain requirement from them.
From there, keep the conversation alive until you seal the deal.
Partner with the Best
If you are serious about entering the SIP trunk, SIP reseller business, you need to partner with the best. We offer a topnotch, high-performance network that will help you meet your clients’ needs. Connect with us today and let’s discuss your options.
We use some of the most powerful software tools in a simple, easy-to-use platform. Best of all, we extend friendly terms to help you grow your business faster.