You are sitting in your office, going through important files, following up on a client, in a deep concentration state. Suddenly the phone rings, it’s a potential new customer that needs you. You have two options: a quick answer without paying much attention to that new business possibility or putting down anything you are working on and providing your full attention to the customer – and maybe closing a new deal.
The struggle is real.
When you are working towards growing your business, a missed call is truly a missed opportunity for revenue.
Why do Businesses Miss Calls?
In smaller companies, workers are busy taking care of the work that brings in the money; while a team member can be out on the field, another will be taking care of finances or planning and so on to the other collaborators. This lowers the bandwidth each team has to ensure that calls get answered, even if this means bringing in new business.
Many businesses experience lost calls after normal working hours, on holidays, or even when recovering after a disaster. In many cases, customers have gotten used to talking to machines or call centers and expect people to answer 24/7. Otherwise, you might not have the technology to manage the call flow, resulting in missed calls.
Often, companies struggle to pay a receptionist to be ready to take all incoming calls – especially if your business is client-facing – and naturally, their attention will get divided between tasks. In other cases and with the current economy, some small businesses can’t pay a full-time receptionist to just be taking calls.
If any of this is your case, do not worry: it’s more common than you think. However, it’s essential to make sure you understand the impact of missing the calls and how this can be turned around.
The Impact of Missed Calls for Small Business
Even though companies might have multiple channels for customers to reach them, the phone is still one of the most vital. Any other medium hasn’t yet substituted the convenience and sense of urgency that the phone conveys. A recent study mentions that customers still prefer personal interactions in phone calls (62%), email (46%), and chat (37%) to self-service (14%) or bots (13%) when dealing with issues.
A user’s reason behind that call can be an intent to purchase a service or product, an inquiry about your work, or a request for an appointment. So, let’s talk numbers.
There are 2 important terms to get familiar with here: Profit potential and profit revenue. The first means that if you are a lawyer or a doctor and you can see 4-5 clients per day, the total amount earned from these visits minus the expenses will be your daily profit potential. If you multiply this by the days in the week or month, you will find how much you can make.
- A Lawyer can see 4 clients per day and the average hourly rate is $250.
- This means that an attorney has a profit potential of $1,000 per day.
- The profit potential is $5,000 per week and $20,000 per month.
- Let’s subtract 40% for operating costs and we get a Profit Revenue of $12,000 per month.
- An HVAC company can do an average 5 service calls per day, and let’s say the average service call can range up to $350.
- The profit potential is $1,750 per day.
- This means a profit potential of $8,750 per week and $35,000 per month.
- Let’s take away a similar estimate of around 45% for operating costs and we get a profit revenue of $19,250.
According to Hubspot.com, of all calls that come in, 60% of them become leads and 1 will become a client. Just getting an extra client per day would increase your income by around 20-25%. Imagine that!
Benefits for Business of Not Missing Calls
We know you’ve worked hard to build a sustainable business and you don’t want to risk losing revenue growth because of unanswered calls. However, how familiar are you with the real benefits of answering ALL your calls?
1. Give a positive first impression.
If a new lead or potential client calls and meets an automated voicemail or a dial tone in the middle of the day, they’ll think you’re not able to manage their business. Medical or legal offices can lose a lot of customers as often their work is very time-sensitive. Having a person answering the phone 24/7/365 makes customers feel taken care of and provides a positive first impression that your business can serve their needs.
2. Improve overall customer service
When an answering service can answer your client’s call, you can quickly clarify your customer’s questions or needs. Actual human operators are generally well-liked and preferred by most consumers and support building a more authentic relationship. Also, having a person answering incoming calls can allow information to flow efficiently throughout your business.
3. Make the best of your marketing plans
Your marketing budget is one of the most significant ways you spend your money. Whether you contract with a marketing partner or devise an in-house marketing plan, unanswered calls are a waste of your marketing dollars. These calls can be potential leads that can generate additional revenue for your business, so it’s a great opportunity not to lose your investment.
We Provide 24 Hour Live Answering Services
At Answer Hero, our answering services for small businesses will ensure every single customer that calls has a positive experience. With friendly, expertly trained live virtual receptionists answering the phones, you will have the peace of mind you need to focus on developing other aspects of your business.
Give us a call today to discuss how our answering services can help your business grow!