One of the biggest problems of using telecommunications in your business is determining exactly where your calls are coming from and whether they’re playing a positive role in your business’ profit-building efforts. If you are having problems with generating revenue with your existing phone numbers, there may be a solution found in utilizing virtual phone numbers.
In this article, we’ll take a look at how virtual phone numbers can generate more revenue for your company.
What are Virtual Phone Numbers?
Virtual phone numbers are phone numbers that use Internet-based technology (i.e. Voice over Internet Protocol/VoIP, cloud computing) to route phone calls instantly around the world. Because virtual phone numbers are identical in look (country code and area/region codes) as well as functionality, these numbers blend into what consumers are used to.
This means that your business can gain the benefits of accessing potential customers no matter where they are located, increasing your revenue simply by making your business more accessible.
Tracking Metrics with Virtual Phone Numbers
By using a unique phone number per advertisement campaign or one tied to a particular region, you can then see how many people called each virtual phone number. This allows you to send those sales calls to the salesperson or team of salespeople most qualified to handle them, which ultimately generates better revenue by directing customers and gives you an idea of how effective your campaigns actually are.
Let’s look at an example:
Suppose you’re a Canadian-based business that’s looking to enter United States markets. By using a virtual phone number that is only used for advertisements in the US (i.e. billboards, social media ads), you can get a good idea of what your customer acquisition costs are. This is because a virtual phone number subscription can direct calls towards unique US virtual phone numbers.
Aiding Localization Efforts
If you can’t figure out why your phone number isn’t generating more revenue, then you may want to look at your localization efforts. In short, customers like to buy from a business they are familiar with. Therefore, using a local phone number in your ad or marketing piece can increase your response rate and your chances of closing new business transactions. As mentioned before, because virtual phone numbers help your business blend into new markets — both domestic and international — you can gain a business presence that’s aligned with how individuals and businesses want to be engaged, increasing your revenue.
Testing New Markets
If you’ve been considering the option of opening a new office in a new territory, then you know the process is expensive and demanding on your resources. Not only do you have to invest in new staff, but also in new office buildings or space, new equipment, and so forth. However, virtual phone numbers allow you to virtually test a new market to see whether a market is viable; after all, if you can’t sell to them over the phone, what’s the point of establishing a physical presence? It is for this insight that virtual phone numbers can allow you to test the waters without having to make larger investments in the future that may not generate as much revenue as you had imagined.
Creating New Sales Channels
Every phone number that your business features is a potential revenue-building source. Following this logic, you may want to use virtual phone numbers to add more sales channels that can process more customers and broaden the access to your organization. This includes offering phone numbers that can be tailored to each market, such as ITFS numbers, which are toll free numbers that allow foreign customers to reach your business toll free (something that normal toll free numbers don’t do).
Reviewing Employee Performance
Virtual phone numbers allow your business greater insight into the operations of your phone-based communications. For instance, you can use a popular add-on called “call recording,” which records and stores phone calls between your staff and customers. You can monitor phone calls to decide whether the problem stems from your phone number, or from your customer service reps, for instance.
by Tom Senkus
Author’s Bio: Tom Senkus is a writer and entrepreneur that specializes in sharing his knowledge to aid startups and small businesses in making their businesses leaner and more efficient. For more information, visit www.tomsenkuswriter.com