There is often a stereotype that earning well with business telephony solutions is difficult. People are increasingly using messaging apps, and it may seem that phone calls are becoming less relevant. In this article, we will try to understand what is happening with telephony today.
Subscriber Decline From Fixed Operators
Classical corporate telephony is indeed going through challenging times. According to Statista's report, the number of fixed-line subscriptions is declining worldwide, with only Arab countries being an exception.
Given this information against the backdrop of messaging app popularity, one might think people are abandoning telephony altogether, but it's more complex. Most consumers still consider phone calls as the most suitable means of communication when initially contacting a company, according to BrightLocal data for 2019.
Similar situations occur with existing customers. According to the PEGA report for 2019, 62% of consumers resolve all issues with a client manager over the phone. While personal communication and emails are widespread, telephones still take the lead.
Why Do People Continue to Communicate by Voice?
At first glance, it may seem strange that people continue to contact businesses by phone when almost everyone is accustomed to online communication. However, there are many reasons why telephony remains a sought-after means of communication:
Urgency. Emergency calls are unlikely to be replaced by messaging apps. When something threatens life, contacting emergency services by phone is the quickest way.
Emotional connection. During a call, you can pick up the speaker's intonation and better understand the context of the conversation. Determining emotions through text is much more challenging, especially with no emojis.
Difficult to miss a call. Unanswered emails can accumulate in the hundreds, while an incoming call is immediately noticeable. During a call, the person on the other end cannot simply hang up and call back later.
Familiarity. Everyone knows how to use a phone. The older generation may find it challenging to navigate messaging apps, but dialing a number or choosing a contact from the list is a familiar practice.
Usability on the go. A phone can be connected to a hands-free kit, allowing communication while driving. This opportunity is not possible with messages.
People will continue to use telephony, but it must meet their needs. While regular subscribers may be satisfied with the ability to call someone, corporate clients have significantly higher communication requirements.
Companies and customers continue communicating verbally, but more than simple phone calls are required. To facilitate efficient communication, a tool with the following features is necessary:
Call recording
Flexible call forwarding
Voice recognition
Call statistics
Speech analytics
Call tracking
Integration with CRM systems.
Call processing capabilities become available to the client upon connecting to a cloud PBX. According to the forecast from Market Research Future, the market for this service is rapidly growing worldwide: it is expected to reach approximately $15 billion in 2023 and is projected to reach $71 billion by 2032. Every fixed operator has the opportunity to slow down subscriber churn; all that remains is to find a suitable vendor.
Conclusion
Telephony in the B2B segment remains a relevant means of communication. Most customers continue to contact companies by phone and resolve their issues with a client manager in this way.
Telecom services remain in demand for business, but no one will buy only landline numbers anymore. Companies need the functionality of a cloud PBX: call recording, call statistics, call forwarding, and more.
Operators should constantly monitor market demand. This approach allows them to adapt to new requirements quickly and offer corporate customers sought-after services.