Everyone wants to get the best deal. If you’ve ever held two equivalent products with identical features in your hands at the electronics store, for example, have you ever chosen the more expensive product? With very few exceptions, the answer is likely no.
Getting the lowest possible price – on anything – is usually a priority. When it comes to telecom services, however, there’s a catch: the lowest price doesn’t always mean the best possible cost.
The right contract terms and conditions are equally, if not more, important than saving on telecom services. Here’s why, and what you can do about it.
What You Need to Know About Your Telecom Service Contracts
Your telecom service contracts don’t last forever, but they do last around three years. That is a long time to be locked in if you’re stuck with sub-par terms and conditions. Businesses often don’t realize they sign on the dotted line for contractual obligations to spend a minimum amount per year. Combined with hidden fees, these practices can actually inflate the cost of your services so that the “lowest price” isn’t actually the lowest price after all.
How to Save On Telecom Services and Get the Best Value
Whether you’re on the hunt for new services or are considering switching vendors, there are a few things you have to do in order to secure the best pricing, terms, and conditions.
1. Shop Around! We can’t stress this enough: RFP pricing will always be better than renewal pricing. If you want to save on telecom services, the RFP process is a no-brainer. If your contract is up, though, don’t just jump on the renewal because it’s the path of least resistance. When you collect proposals from multiple vendors, you gain negotiating power. You can leverage discount pricing in your negotiations and get a better idea of the terms and conditions that different vendors offer so you don’t trapped in a contract with minimum spending commitments or hidden fees. The more options you can get your eyes on, the better.
2. Keep up With Trends. One of the easiest ways to ensure you’re getting the services you need at fair pricing and terms is to stay on top of industry trends. When a new technology comes on the scene, this generally equates to a drop in price of an existing service or a cheaper and newer alternative appearing on the market. Know what’s out there so you don’t overspend on a service that is suddenly offered at a markdown.
3. Leverage Your Telecom Rep. When trying to interpret terms and conditions, don’t forget about your telecom sales rep. They can be a great resource for the information you need about current services, new developments, hidden fees, confusing contractual obligations, or discounts you may be eligible for. Talk to each vendor about package pricing and any other ways to secure a price reduction.
Doing Your Best to Save On Telecom Services, But Still Need Help?Despite your best efforts, it can still be impossible to know if you’re signing a telecom contract with the best possible pricing, terms, and conditions. At PAG, we can help you with anything from auditing your current services to contract negotiations to the entire RFP process. We’ll give you the guidance you need to truly save money so that you can better your business. Contact us today to start saving.