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Written by
Katy Ratican
15 Aug 2022
4 minutes

How VoIP reduces costs and boosts ROI for small businesses

Interested in learning more about VoIP costs? Here's how the technology can save you money and increase your returns
VoIP costs and ROI

Small businesses have been shifting to VoIP (Voice over Internet Protocol) because of its flexibility, cost-effectiveness and business tools. If you’re considering ditching your PSTN (public switched telephone network) for VoIP, it’s natural to wonder about VoIP costs and whether cloud-based phones can save you money.

In this article, we’ll learn how you can review your current costs and understand VoIP costs. We’ll also discuss how switching to VoIP can save you money, the features it can give your business and how VoIP can boost your ROI.

Review your current costs

Before switching to VoIP and understanding VoIP costs, you need to examine your current costs. You can keep the following considerations in mind to review your existing costs.

  • How many phone lines does your business have?

  • What kind of hardware do you use?

  • How many employees work for your business?

  • What are your additional costs (including those for international calls)?

With this information, now you can come up with an estimate for your VoIP costs.

VoIP costs

To find the right VoIP plan for your business, you need to understand the three main components of VoIP costs. These include installation, device fees and subscription charges.

Unlike the traditional PSTN, you don’t need to buy any hardware. If you have a reliable internet connection, there is no installation cost that you have to worry about. If you’re porting your number, you may have to pay some fees.

A VoIP-enabled phone can cost upwards of $70. The good news is that you don’t need to buy a new device. You can run your VoIP application on any connected device to make and receive calls and send messages.

The most prevalent and unavoidable component is the recurring fee. Your subscription fee will depend on the features you want. While there are free VoIP services, they’re usually not suitable for business use.

How switching to VoIP can save your business money

VoIP works over the internet by converting voice into data packets. The service can be accessed on any device that’s connected to the internet. So, there’s no need to buy additional devices, which will significantly reduce your VoIP costs.

Secondly, you don’t have to invest in new hardware. If you have a strong internet connection, the service will work seamlessly. Businesses also don’t need trained technicians to manage or expand VoIP service since it’s as easy as downloading an app.

VoIP also empowers your team to work remotely. This gets rid of unnecessary travel costs, rent and utility bills.

Additional features available with VoIP

It’s not only the lower VoIP costs that should interest small businesses. By shifting to VoIP, you also get to use tools that will help optimise your communication, improve customer engagement, widen your marketing reach and grow your business. These tools include:

  • Voicemail

  • Call queuing and recording

  • Auto-reply

  • Number-sharing

  • IVR or interactive voice response

  • Personalised greetings

  • Call forwarding

  • Skills-based routing

How can VoIP boost your ROI?

Large enterprises would claim that VoIP has both advantages and disadvantages. But the truth is that it can boost the ROI of small businesses and startups. That’s because, even with the profusion of email and social media, a good business phone is crucial in the modern age.

If you make several calls a day and expect your customers to call you, what you need is an affordable solution and that’s exactly what VoIP is. You can intelligently use the additional VoIP features to make your business look professional and improve customer service.

Plus, if you have a remotely placed team, VoIP should be your natural choice. There’s no need to get additional devices or wait for their installation. Your team members can download the app and get connected in minutes.

Finally, if you’re unsure of which system to use, VoIP is your answer. You can try out any top-rated VoIP services that offer you a free trial. If you’re unsatisfied, you can go back to the conventional phone.

Chalkboard: Taking your business communication further

The fact that it comes with business tools and that the average VoIP costs are demonstrably lower than the traditional options should encourage you to use the service. But how about a VoIP service that gives you all these advantages and can work like an automated marketing machine? That’s Chalkboard for you.

Of course, you get all the standard advantages of VoIP like a device-free number and a second line for work. You also get auto-reply for calls you can’t answer. Your team members can share their numbers, which will enhance internal collaboration and improve customer engagement.

Where Chalkboard differentiates itself from the rest is in its marketing features. Group broadcast and enhanced chat let you grow your business through text marketing. The app also sends automated requests to your customers for online reviews. This helps build your brand’s online reputation.

Download Chalkboard and start your free trial (yes, you also get that). It’s the VoIP service built for small businesses and startups.

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