The cost of missed calls to a business can vary significantly depending on the nature of the company. An easy way to know their value is to calculate your average sale. However, technically, it’s not as easy as that as missed calls can lead to both direct and indirect costs, including:
1. **Loss of Revenue:** Missed sales or service enquiries can directly impact a business’s revenue. Potential customers who can’t reach your business will turn to competitors, resulting in immediate financial losses.
2. **Customer Dissatisfaction:** Missed calls can frustrate existing customers, leading to dissatisfaction and a potential loss of loyalty. Unresolved issues can harm your reputation and lead to customer churn.
3. **Opportunity Costs:** Missed calls may represent missed opportunities to upsell or gather valuable market research that informs financial decisions.
4. **Time Wasted:** Business owners and employees will then spend additional time dealing with complaints, diverting their resources.
5. **Reputation Damage:** A high number of unanswered calls can damage your brand’s reputation and credibility. Sadly customers may perceive your business as unprofessional or unreliable.
6. **Competitive Disadvantage:** Being responsive in today’s market is a must.
7. **Legal and Compliance Risks:** In certain industries, missing calls, especially from clients or patients, can have regulatory implications.
8. **Missed Appointments:** For service-based businesses, missed appointments due to unanswered calls can result in wasted time.
Implementing a telephone answering service will help mitigate the costs associated with missed calls and ensure that your business remains accessible and responsive to customers.
If you would like to explore this idea and see how much more your company can save or make, please email email@example.com or call 020 3970 5550. We would be happy to talk it through and find the ideal solution for you.