Marketing & Sales
5 mistakes you are making with your virtual offering
Here are 5 common mistakes operators make with their virtual offerings that hinder their revenue growth.
Feeling like you’re not getting the value out of your Virtual Mail Offering? Stuck with revenue growth because you can’t seem to get past it? Here are 5 common mistakes operators make with their virtual offerings that hinder their revenue growth:
1. You don’t use a Mail Management Software
The most common mistake many operators make is handling postal mail manually. Handling postal mail management may work when you are starting, but it is not efficient and sustainable to achieve revenue growth. A Mail Management Software allows you to upload and assign mail quicker while monetizing your mail handling fees. The mail management software, PilotoMail, which we developed and use in our own Coworking Spaces, Piloto 151 allows us to offer both our virtual office and physical members a digital mailbox where they can easily view and manage their postal mail. It also helps our staff avoid extra work, such as manual inputs and charges for every open and scan, forwarding, or shredding.
2. You don’t offer various tiers
Plan for three well-priced virtual office or virtual mailbox tiers. This way, you can tailor to different demographics while creating more revenue opportunities. You can set up included thresholds on mail handling depending on the plan they choose.
3. You don’t have mail-handling fees set up
It is crucial to set up mail handling fees where you decide each action’s costs, as well as keep the revenue you make from those fees. You want to set the pricing based on your location and what fits your business best. By using PilotoMail, you can choose to offer a set amount of action requests for free depending on the plan your renter is choosing, and monetize any additional action your renter takes. This can be done for all the action requests such as opening & scans, shredding, pickup, forwarding, recycling, and more. The best part is that with PilotoMail you can create an unlimited amount of plans where you set the cost of the plans and action requests and you get to keep all the revenue you make from it.
4. You don’t maximize automations
When managing mail, we can all agree that some things tend to be very time-consuming. For this same reason, we encourage you to set up as many automations as possible. Luckily, with PilotoMail, you can automate the most tedious parts of mail management, such as compliance, billing, and specific action requests your members tend to take constantly. Once you automate particular processes in mail management, you’ll find that you have time for other work tasks that make more money than manual tasks.
5. You don’t have storage fees set up
We all have virtual mailbox renters who literally never or very rarely come pick up their mail. While holding your renters’ mail for a short period seems ok, if it extends into the months of holding, eventually, the mail will start to take more space than you originally intended.
So, how can we encourage our members to pick up their mail once this happens? Or, more importantly, how do we make money from storing it for them all this time? Of course, a small letter barely takes up any space, but what if your member receives three or more pieces of mail every week? By the end of 3 months, these letters will have filled the mailbox, without counting any more oversized envelopes or packages they might also receive that month.
At Piloto 151, our coworking spaces in San Juan, Puerto Rico, the operations team was overburdened by forgotten mail and packages. We decided to include storage fees within PilotoMail. The storage fee encouraged our renters to pick up their mail and allowed us to generate extra income from storing it until the mail was picked up. Using our software, you can easily add storage fees depending on the type of mail piece and set thresholds for days you want to include in the virtual mailbox offerings.
6. You don’t keep an accurate mail trail
If these reasons make sense and you want to learn more about PilotoMail’s software, book a demo with our mail experts. Figure out how you can start saving space, making money, and keeping track of your mail.