Technology that enables individuals or enterprises to transfer content such as audio, video, text, and images over the Internet without the involvement of any system operator or provider for distribution of the content is called OTT (Over-the-top). OTT has become the most successful industry of this decade. What makes OTT so compelling? And how do you make money on OTT mobile VoIP services?
The main benefit of OTT is that it is much cheaper than the traditional public switched telephone network (PSTN) (with no subsidies) allowing users to save money on both local and international calls as well as text messages. Secondly, Over-the-top technology is very flexible since there are fewer rules and contract obligations and it isn’t beholden to traditional billing models from telecom service providers. Another advantage is that OTT allows users to transfer images, video, and text along with voice.
The household VoIP brands have advertised free VoIP calling worldwide. What they don’t mention is how they’re actually making money from these “free services.” In most cases, OTT providers face the challenge of how to monetize their services efficiently and stay competitive. The difficulty of this task lies in the fact that most of the users of free services don’t have enough money to use pricier services. Yet this traffic can still be monetized. But how is this possible?
- Build a SMART Business Model.There’s money to be made on calls that go outside the network and room to compete by offering lower prices for international calls than the major players. Take your time to build a differentiated business strategy and calculate prospective income from it.
- Advertise. Placing ads inside your app is another great way to create a new revenue stream. There are plenty of opportunities to do so without annoying your audience. Simultaneously, make sure you have a paid version that offers your customers core and additional services without any ads.
- Focus on a Niche Market. Take a good look around and choose a niche to focus your efforts. Are you ready to propose unique services to individual customers? Or would you rather start with the B2B market within a specific industry? Don’t miss a chance to take a piece from an untouched pie!
- Zoom In On a Target Demographic. By targeting people in the US who frequently call Germany, for instance, you could offer lower rates for calls to Germany and target your marketing efforts to this audience.
- Offer a Premium Version. Provide your users with a full-featured version for an additional fee. Offer them a customized interface, individual rates, and anything else you can think of just be sure it is really worth it.
- Create Monthly Packages. Monthly charges are another great way to generate stable profits. Using the JeraSoft billing package, you can offer a monthly flat rate plan and include free calling within the network along with a set number of minutes to specific destinations. Using Auto Recharge, your customers’ credit cards will be automatically charged to renew their subscription.
- Pay Only for Active Users. Individuals can easily switch from one app to another to find the most convenient solution. In most cases, providers still have to pay a standard fee within their billing system license even for those who haven’t even opened the app for a few months. Pay attention to these types of payment clauses when choosing a provider. The main point is to select a license that allows you to pay only for active users.
- Offer PINless Calling Technology. PINless calling allows users to call without using a PIN number by registering their device or phone number beforehand. This makes calling more convenient.
- Provide a Standard Keypad. By allowing your customers to use their phone’s standard keyboard rather than requiring them to open your app to make calls, they’ll tend to use your VoIP service for all of their calls-another revenue generator
Rather than trying to work within the confines of the traditional OTT (VoIP) business model, ask yourself how to capture a larger share of the value now being opened up through other avenues. In doing so, think carefully about the role you can play in this rapidly changing area and the best ways to monetize your efforts.
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