The modern business landscape demands a global approach to communications. This is why many companies have turned to Voice over Internet Protocol or VoIP software in order to connect with stakeholders, staff members, and customers worldwide. Not only does it allow them to make communication more convenient; it also allows them to make it more cost-effective as it doesn’t incur surcharges beyond what you pay for the VoIP service and your internet access.
The only question now is, with the emergence of newer communication channels, will VoIP evolve in order to keep up with the times? Will it remain as relevant to business operations in the coming years?
To find out, we have gathered some of the most noteworthy VoIP statistics of 2019. From general market research to forecasts on industry challenges, this compilation should provide you with a clearer view of where VoIP is headed in the coming years as well as how you can best utilize these tools for your operations.
Since its humble beginnings back in the ’90s, the VoIP market has certainly reached new heights and it is predicted to grow even more in the coming years. This comes as no surprise with the emergence of mobile VoIP and the expansion of internet access across the globe.
Source: spectrumvoip.comDesigned by
More and more VoIP providers are offering their services at affordable prices. This is why a larger number of individuals and businesses are now able to leverage it for their work or their business and it seems that the number is about to get bigger in the coming years. This can be attributed to the many benefits that the platform has to offer as well as the demand to shift from on-premise to cloud-hosted software solutions over the past few years.
Statistics don’t lie. VoIP is a godsend to companies who are trying to reduce their operational expenses. This communication system allows businesses to reinforce how they connect with other people without compromising their budget. In addition, it is also great for improving productivity in the workplace as it boosts the mobility of your agents.
VoIP is far from reaching its full potential. However, it is important to note that it is gradually changing because of newer technological advancements. This is why it is important to understand how you can integrate these innovations into your current workflow to make the most out of your investment. But, of course, don’t simply rely on new technology. Be sure to also apply VoIP best practices in order to reap the benefits that they have to offer.
Phone systems serve a purpose not just for large corporations but for small startups as well. VoIP levels the playing field for small businesses as it helps them accommodate their clients in a timely manner without having to increase their workforce or pay a lot of money for international calls. What’s more, there’s a myriad VoIP software for small businesses available on the market that cater to different kinds of industries.
The only downside here is that VoIP systems are not created to be all-in-one communication hubs. As you will see below, this is the reason why many businesses are considering using their VoIP with unified communication platforms.
Find Me/Follow Me%
Mobile IP PBX%
Handling phone calls%
Source: Spectrum VoIPDesigned by
Like any other technology, VoIP has its weaknesses. To work your way around them, it is not enough to simply know how SaaS works but also what kinds of challenges you will encounter in the industry.
As you will see from the statistics below, security is one of the biggest issues with VoIP. While the use of the internet for transmitting calls makes communicating cheap and convenient, it also makes you more vulnerable to cyber attacks. This is why it is crucial that you reinforce your VoIP system with the necessary security measures offered by top cybersecurity vendors so that the integrity of your information, as well as the details of your customers, remain safe and sound.
Another problem you might encounter is the adoption of VoIP in the workplace. You should anticipate that calling, via voice or video, is not deemed as the best way to collaborate in the office. Below, you’ll find that more CEOs are pushing for personal interactions to boost employee engagement. In addition, millennials, the generation comprising the majority of the modern workforce, simply prefer less disruptive means of communication.
Lastly, in terms of using VoIP for customer support, more and more shoppers are opting for self-service options. Simply put, not everyone wants to deal with agents when resolving product or service issues and would rather find solutions on their own. With this said, it might be time to invest not only in VoIP but also in unified communications systems that would allow you to support multiple channels.
The statistics make it clear: now is the time to upgrade from traditional phone systems to VoIP if you haven’t already.
VoIP allows you to take advantage of the impact of SaaS on businesses. As we’ve tackled earlier, these communication systems are great for keeping up with the globalization of the modern business landscape. It bridges the gap between managers and remote employees and allows businesses to connect with customers residing halfway around the world, especially now that an increasing number of individuals and businesses are utilizing the system. Moreover, it allows you to make the communications aspect of your operations more cost-effective than ever.
In case you are already utilizing a VoIP system, we highly suggest that you maximize it by understanding the factors that drive the industry. For example, BYOD is something that you might consider using for your operations to boost employee efficiency. Investing in mobile-ready systems might also allow you to simplify work for remote employees. And if Skype is the only VoIP tool you know, you’re missing out on robust features these Skype alternatives deliver.
One thing to note about VoIP systems, however, is that while it undeniably offers a plethora of benefits, it has its own set of weaknesses. The biggest one of which is that it makes you vulnerable to security risks. In addition, it might not be enough to reinforce your communication needs.
After all, there are quite a number of emerging communication channels today. While VoIP systems may easily be able to accommodate voice calls and video calls, not all providers can give you access to instant messaging and built-in SMS. With these said, you might want to dig a little deeper about the inclusions of the VoIP software you’re interested in or find out what integrations you may use to expand the functionalities of your existing system.
Hopefully, with this guide to the VoIP statistics of 2019, you were able to get a better idea of how you can better adapt to the tectonic shifts in the industry. To further help you expand your product choices, you can check this related list of top business phone systems.
Marketing has always had a love affair with technology, from the advent of radio to boob tube, to billboards and print ads. But even these technologies seem puny now with the arrival of the internet, which changes the whole paradigm of marketing altogether. Coupled with revolutionary design ideas and astounding computing and programming developments, marketing software platforms have leapfrogged to territories unknown, accompanied by ubiquitous, connected devices and social platforms that have businesses and their marketers scrambling for ideas on how to mine these newfound sources of wealth. Here we present the next level of data beyond marketing software market share. These and other marketing software statistics show you which way to go when deciding how best to harness these technologies for your own marketing campaigns.
The marketing automation software industry is poised for further growth, with the sector expected to reach a total value of $14.15 billion by 2024 at a CAGR of 19.2%. This is seen to be partly fueled by factors such as increased spending on marketing services and companies’ increased investments in Internet marketing. Also seen to influence this market growth is the uptick in Internet penetration and number of social media users. Also, the demand for better customer experience has resulted in businesses investing in marketing automation software.
Arguably the engine behind the growth in marketing software market size, artificial intelligence (AI) may well unlock the final pieces of the marketing puzzle, the key that connects many if not most of the developments trending in the marketing industry. If you are wondering how AI could help your marketing become more effective, you can turn to how the savviest marketers leverage AI to inform them about which content gains more followers and piques more interest in social media, along with which days and the time to post the content and on which platform—Facebook, Instagram, Twitter and the like. With more money pouring into marketing software research, AI can take care of automating the posting, and provides the metrics and analytics for each activity, allowing you to measure the effectivity of the campaign and relate it to your ROI.
Chatbots seem to counter marketing software push for a more personalized approach and for a clear reason: these bots are more eager, faster and more persistent than their human counterparts to engage customers in a conversation. With more than 1.4 billion people already interacting with chatbots (eMarketer), there is little wonder that marketers are turning a sharp eye on these denizens as vehicles for their marketing campaigns. The fact that customers are not averse to the whole idea works in their favor too:
Source: Collect.chatDesigned by
One of the least hyped marketing software facts is how interactive videos are finding their way in emails, social media posts, websites and blogs. At this early stage, 90% of Americans believe that content will be better in 360 video than standard formats (Advrtas), and as much as 98% think they are more exciting. People are simply captivated by the novelty of being able to navigate the area presented in the video as if they were there themselves. For their impressive early returns and yet still largely unexplored promise, interactive marketing videos will radically transform, perhaps even disrupt, the marketing landscape. People who view them tend to finish the whole video, resulting in a higher commitment and return on investment.
As more people, especially the younger generation, become more willing to share personal information, companies are able to offer recommendations that better match their customers’ preferences. At the heart of this development is a more powerful artificial intelligence software, with more capable computer hardware able to support more sophisticated algorithms. More than 96% of marketers already see the value of personalized marketing (Quicksprout), with multiple case studies and concrete results to support it. As for consumers, the attitude towards sharing personal information, as already noted, is showing some positive signs:
of marketers believe that personalization improves brand building
of customers are willing to share relevant information in exchanged for personalized offers
of marketers believe that personalization improves customer retention
of customers willing to share relevant information in exchange for contextualized engagement
Source: SalesforceDesigned by
Smartphones, Google Home and Amazon Echo are pointing marketers to voice search as a legitimate avenue to increase their sales, if current marketing software data is to be believed. While voice-activated devices have always piqued the interest of technology buffs and are a staple of science fiction, it is only now that it has achieved an amazing level of precision (Advicelocal), consequently earning the attention of marketing people.
So which of these marketing developments are on your immediate sights and plan of action? If you have a considerable business war chest to play with, it’s easy to go with marketing platforms that offer the most powerful AI among its features, if only to provide more meaningful interaction with leads or customers and gain unparalleled business intelligence into your operations.
Employing chatbots will be your main option if you are more of a social media marketer and especially if Facebook and Instagram are your channels of choice. Bots are getting quite competitive there (as many marketing software charts will show you) and you want the best that technology can offer when you enter the fray. Many of the top live chat apps already employ a chatbot.
The more ingenious marketers will probably go for voice search-driven content and take it from there. They can use search marketing software to fortify their organic positions. Enhanced personalization is more in the territory of technical experts, though nothing stops anyone from trying the technology for their enterprises. It’s a solid technology too, with proven cases to support its standing.
Whatever your choice, you have to look carefully into the nature of your business and the best software for the budget that you can work with, with clear options to scale any which way you want as your business also picks up.
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