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How Much Are Missed Calls Costing Your Business?

McKay Allen09/01/2015

 

Missed calls are costing your business money.

We’re consistently stunned at the number of calls that businesses simply fail to answer.

Here are a few examples of the losses that plague business that miss phone calls.

Agency Client Missing Calls

We are the official call tracking provider of Money Mailer. Their franchises use Convirza to prove ROI to Money Mailer clients. Several franchises have told us a slight variation of the following scenario:

– Client: We want to cancel because our revenue hasn’t increased since we started working with you.

– Money Mailer: Well, let’s look at the number of calls we’re generating for you. (Pulling up data from Convirza) It looks like you are failing to answer about 40% of the phone calls that we’re driving you.

Once the client saw the data, they, of course, stayed with Money Mailer. They realized that Money Mailer was doing a REALLY GOOD JOB at generating phone calls. The problem wasn’t Money Mailer, the problem was that the client had employees that weren’t answering the phone. That client fixed some staffing and scheduling issues and the problem was solved.

They’re now making more money than they ever have before.

Can you imagine missing nearly 40% of the phone calls that come into your business? That’s crazy.

Missed Calls At Large Hotel

Another story is from our client Grand Lucayan.

A fairly high percentage of their phone calls were going unanswered by their on-site reservations team. Data management was able to extract from Convirza alerted them to this problem.

They fixed some scheduling issues, and boom, problem solved.

How Common is The Plague of Missed Calls?

This is a surprisingly common scenario. Businesses ranging from auto repair businesses and tire shops, to home services companies, Fortune 100 sales teams, and even B2B companies have a very high percentage of missed phone calls.

So here’s the question: what does a missed call cost you?

In the case of the Money Mailer client referenced above, they were a large home services company. Each call represented a potential revenue of over $10,000. That missed call was, for that business, potentially very expensive.

If you’re a tire dealer, the value of a missed phone call could also be very large. Remember, each phone call could be an inquiry about a new set of tires on a pick-up…a $600+ purchase.

Calls matter.

Let’s do the math. Let’s say you’re a hotel and, just to work with a good round number, your ADR is $100. You normally receive 10 phone calls each day about reserving rooms, and your conversion rate is normally around 70%. That means 70% of the people that call your hotel end up booking a room. Assuming that 70% conversion rate, if you miss 7 calls each week (1 each day), simply because the person on the front desk is on another line, isn’t paying attention, or is refilling the pool towel rack, that’s a potential revenue loss of almost $500 in one week.

That’s a lot of money for a small hotel. And that’s just from missing 1 call each day that would have a 70% chance of converting if answered.

We also work with some companies that sell BIG ticket items that are well over $100,000 per transaction. Can you imagine a company getting calls about $100,000 pieces of machinery missing 30% of their inbound calls? That’s a massive amount of lost revenue.

Your Action Items

One of the most useful features within Convirza is missed call alerts. If someone on your team misses a call, you can set up a Webhook that will actually alert a manager, or anyone else on the team, whenever there is a missed call. The caller can then immediately receive a call back.

And, if you’re an agency, you want this data. If your client accuses you of failing to generate calls/clicks/revenue/leads for them, you need this missed call data to defend yourself. Because, heck, if your client isn’t answering 40% of the calls you’re generating for them, that’s their problem, not yours.

If you’re a small business owner–or an agency that markets for small businesses–you need to read the next 4 sentences.

Convirza makes it simple for SMBs to NEVER miss another phone call. Our scheduled call routing feature allows you to route calls to different phone numbers during certain hours of the day and specific day of the week. For example, you could take calls on your cell phone over the weekend; they’ll just route to your cell phone. Or, if you’re a larger enterprise, you can route calls to one specific call center during business hours and a different call center or sales team during off-hours.

Never miss another call.

missed calls

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1 comment. Leave new

Marketing Rant: Answer Your Phone
01/31/2018 12:44 PM

[…] the problems with unanswered calls don’t end with B2C companies. Today we tried calling a SaaS provider to ask a simple question. […]



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