7 Factors That Impact How Quickly You Begin Generating Digital Mailbox Revenue
When it comes to the question of how long it takes for flexible workspaces to generate revenue with digital mailbox solutions, there is no universal answer.
Expediting your onboarding process helps speed up the process. From there, you’re likely to see mailbox customers sign up within the first week or two. After 18 months on iPostal1.com, workspaces have, on average, over 60 active customers.
However, there are seven factors that will influence how quickly your customer base grows—and most are within your control.
1. Resource Utilization
When you sign on to iPostal1, abundant support is available to you. The extent to which you utilize this support will influence how quickly your digital mailbox revenue grows.
Resources include:
Refresher training
Responding to our follow-up calls, which we make after your first customer signs on and your first task is complete
Taking advantage of FAQs, best practices, guides, and other resources easily found on the Admin Portal
Our team is also always available to answer questions, provide support, and troubleshoot issues.
The more you tap into these free resources, the quicker you’ll see new revenue flowing in.
2. Location
The location of your workspace(s) and the demand for your address(es) will have a big impact on your revenue potential. Every location gets new customers, but rate of growth will vary.
Workspaces compete in a less cluttered environment on iPostal1.com, which offers a separate locations page option for workspace and office building addresses. Workspace addresses also appear on the page option that shows all locations.. In either case, the number of other addresses available in your city will impact the new customer signup rate.
While you can’t control local address density, you can leverage your understanding of your market to find opportunities.
Our team will work with you to determine the optimal pricing strategy for your digital mailbox services that aligns with your revenue and margin objectives, and find ways to help your listing stand out.
3. Marketing
iPostal1 invests millions of dollars in internet advertising and SEO to drive prospects to iPostal1.com. When they choose your address, you get a new digital mailbox customer. Most workspaces generate significant revenue and are very satisfied with their growth from the iPostal1 marketing program.
However, with some proactive steps on your part, you can add topspin to your growth rate and drive revenue even higher. We provide a unique marketing URL and QR code for your workspace’s address, as well as an online signup page you can deploy, among other resources.
The more you invest in driving awareness of your digital mailbox solutions, the greater your revenue growth will be.
4. Amplification
As an iPostal1 partner, you can amplify your revenue by adding a second revenue stream.
With iPostal1, your workspace acts as a digital mailbox for outside customers, but with the addition of iWorkspaceMail, you can offer the convenience and benefits of digital mailbox service to your coworking members as well.
By amplifying your digital mailbox service offering, you can get an immediate revenue boost from your existing customers while differentiating your brand with a high-value amenity and gaining a complete history of all mail received and how it was handled.
5. Product Training
Training your team on our digital mailbox technology is foundational to generating more revenue. Think of it like one of your space’s amenities and train your staff accordingly.
When your team can efficiently manage their digital mail tasks, they’ll be better equipped to accommodate a growing customer base.
Creating a daily routine will help streamline these tasks and ensure they’re properly managed.
And if you’re hiring new employees, iPostal1 will train them for free.
6. Sales Training
Your community management team is actively selling your workspace products every single day, and it’s vital to ensure they are informed about your digital mailbox solutions as well.
When your team is educated about these services, they can sell them more effectively to your existing and potential members.
More importantly, when they understand how digital mailbox solutions can be cross-sold as a complimentary service with your existing ones rather than as a standalone service, your revenue opportunities increase dramatically.
7. Prioritization
Prioritizing your digital mailbox solutions with the same care as your other workspace services is one of the best ways to ensure high customer satisfaction and revenue growth.
In many cases, digital mailbox tasks are seen as just another daily to-do list box to check. After all, individual contract values are lower than your office services, and you don’t often see digital mail clients in person. But you have only so many offices and desks to rent, while you can have an unlimited number of digital mailbox customers and unlimited revenue growth.
Think of it this way: when a customer places a mobile order from a coffee shop, the staff still makes the beverage with the same care as they would if it was for a person ordering at the till.
The same applies to digital mail.
Flexible office space is all about hospitality, and when you apply that same philosophy to digital mail customers, you can increase your retention rates while you acquire new customers.
If you want to speed up your revenue generation with digital mailbox solutions, these seven factors can make all the difference.
Ready to get started with iPostal1? Contact us today to start building two new revenue streams for your workspace with digital mailbox solutions.
