Business messaging is growing on a global scale, with an increasing number of enterprises using SMS and OTT messaging apps like WhatsApp, Viber and Facebook Messenger to communicate with customers. Ellen Velickovska, co-founder & managing director at telXira takes a look at how to make the most from this A2P messaging market that predicted by Research and Markets to grow from $66.84 billion in 2022 to $96.73 billion by 2030.
While businesses have traditionally defined the channel in which customers can contact them, in today’s digital world, customers want to be able to use their preferred channel and communicate across multiple platforms such as SMS, messaging apps, chatbots and email. Due to this demand, we are seeing a huge growth in omnichannel communications.
Omnichannel enables businesses to provide a seamless customer journey and experience across platforms, rather than losing customers along the way. On top of the seamless customer communications and success that business messaging can bring, another key driver is down to regulations and compliance. Many enterprises are now moving internal communications away from private chats and into channels like Microsoft Teams or Slack, and it will only be a matter of time before the same goes for all customer communications.
Companies cannot afford to have staff communicating with customers via private chats on channels like WhatsApp, without meeting the necessary record-keeping obligations which are offered in WhatsApp Business or alternative OTT channels.
There is a huge opportunity for businesses like Managed Service Providers (MSPs), Value-Added Resellers, Systems Integrators and Internet Service Providers (ISPs) to create new revenue streams and monetise business messaging, while serving existing enterprise customers’ demands.
For service providers without any knowledge or experience in business messaging, it can be a challenge to successfully enter the market. However, with the right platform and partner, it is simple to resell messaging services and experience rapid growth.
What can you resell?
Business messaging covers a wide range of use cases, with some key categories including transactional A2P SMS, two-way messaging and marketing campaigns/customer engagement. These can all be added to existing product portfolios to resell onto enterprise customers.
- Transactional SMS – Transactional Application-to-Person SMS refers to messages that are sent to customers to provide important information, such as two-factor authentication (2FA) for accessing data and applications. It also covers areas like tracked parcel deliveries, appointment reminders, traffic updates, alerts and weather warnings, to name a few.
- Messaging for Marketing Campaigns – A2P SMS has become a popular choice for marketing campaigns due to the much higher open rate of texts, 98%, when compared to emails, just 20%, according to Gartner. This can yield a far higher return on investment and is a great selling point for service providers entering the market.
- Two-Way Messaging – Two-way messaging can be used by enterprises to build relationships with their customers/end users. By offering the option for customers to reply rather than the communication being one-way, customers can feel more valued and better engage with the business. For example, with the right platform, customer service/call centre representatives should be able to see messages from customers across different platforms including SMS, WhatsApp and Viber. This will provide a better, smoother experience for the customer and help to improve satisfaction.
All of these messaging services can often be found in a comprehensive package via Communications as a Service (CPaaS) platforms.
The right partner will provide an all-in-one business messaging tool that makes it easy to quickly enter the market and capture new growth. It is important to look out for a partner that offers end-to-end support for partners, including step-by-step training, troubleshooting and round-the-clock customer service. It should be simple and efficient for any business to get up and running with business messaging – even those with zero experience in the market.
An effective CPaaS messaging platform should provide white-label capabilities to enable service providers to easily resell the platform onto enterprise customers as their own.
New opportunities, new benefits
There are many benefits for businesses if they are willing to take the right steps when entering the messaging market. These include but are not limited to:
- Create New Revenue Streams – Messaging has a large number of use cases, making it a popular service to resell and create new revenue streams with an existing customer base.
- Grow Business Globally – The right partner will enable service providers to grow their businesses globally without expensive investments in their own infrastructure or solutions.
- Serve Growing Enterprise Demand for Messaging – A comprehensive CPaaS platform makes it easy to meet growing demands for messaging from enterprise customers.
- Increase Customer Loyalty – By serving customers’ changing communications demands, you can boost their success and in turn increase loyalty.
- Opportunities to Scale – Messaging provides a great way to scale according to business demands, with additional add-on services, platforms, and destinations.
- Stay Competitive in a Fast-Paced Market – By offering messaging services to customers you can stay ahead of the game rather than getting left behind.
Moving forward with messaging
To get the most out of the channel market, service providers and resellers must pivot their offerings and match the needs of our changing business landscape.
Working with an expert partner provides a risk-free approach to entering the messaging market, and an opportunity to gain the expertise and end-to-end support needed for long-term success. It is simple to land and expand in the business messaging market when you have a trusted platform and partner by your side.
Ellen Velickovska is co-founder & managing director at telXira