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Zoom meetings are Zoom‘s (NASDAQ: ZM) main product and are quite impressive. But expansions like Zoom Rooms and Zoom Phone are exciting growth opportunities.
In this Backstage Pass video, which was broadcast September 28, 2021, explain Jon Quast and Brian Withers, contributors to Motley Fool.
Jon Quest: Yes. It is simply amazing. These case studies that they put forward, the management team of Zoom. Now, okay, everyone is going to show their best example. They are not going to show a trivial example here. This is a good example. But a case study here, just what this option can do with our existing customer base.
If you only had Zoom meetings, which is the most basic of the Zoom plans, you would spend X dollars, but if you add Zoom rooms and a Zoom phone, in one case it was four times the earning potential that you had. simple Zoom meetings. It is an exceptional option.
Normally, the basic product is the most important thing you can imagine. Then you pull those tiny little option levers to the side. But in the case of Zoom, we find that rooms and the phone are potentially as important an opportunity as the reunion itself.
Incredible potential for optionality here for Zoom.
Brian Withers: Yes. You can see that this is a large financial services company. They also made a great retail business. The other thing I like to point out here is that it’s been over four years. Zoom has been around for a while, and you can see that throughout the coronavirus they’ve increased some of their spending, but until recently when they added their Zoom phones to the mix here, they really made a difference. huge incremental increase in their spending resume. You can see here, it’s been over three years, and it’s possible that a company is implementing Zoom for their sales team, for example, or internal sales reps or whatever. They take advantage of it, then Zoom, the seller comes into that business and goes, well, we can get you a better deal if you go into business. We’ll give you discounts on phones, these add-ons, and there are some great upselling opportunities out there in a number of ways.
The other thing that excites me, as businesses come back to the office, and it’s a mix of places where businesses are in this transition, it’s likely that Zoom will become a staple of the day-to-day routine. The layout of offices with Zoom capability across the company and their physical space will be an opportunity in the future.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.
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