The Impact of Missing a Call
A prominent UK-based FTSE-100 building supplies company, operating over 900 branches nationwide, conducted research to evaluate the effects of missed calls. Over a year, out of 14.5 million calls, more than two million went unanswered. This resulted not only in significant revenue loss, estimated at approximately $161.7 million based on average sales per order, but also harmed the company’s reputation and customer satisfaction. The company projected that enhancing call resolution by just 5% could boost profits by $6.4 million.
Start With Low Hanging Fruit
What if managing loyalty in today’s unpredictable environment didn’t require an expensive Customer Experience Management (CEM) implementation but instead relied on a simpler telephony solution designed to address key customer complaints? A telephone system equipped to enhance customer experiences and provide actionable metrics for loyalty improvements could be highly effective. For example, integrating caller identification similar to mobile phones allows staff to access relevant information and respond more effectively. Additionally, tracking the number of unsuccessful call attempts can help resolve customer dissatisfaction, as a well-timed callback demonstrates genuine effort from the company.
... the cost of a Managed Call Solution can prove insignificant when compared to potential losses incurred."
When connected to a CRM system, such callbacks become even more impactful, fostering stronger customer relationships. The investment required for such a telephony solution is modest compared to comprehensive CEM platforms. Moreover, if the telephony system supports integration with widely used software like SAP, JD Edwards, or Oracle, it can serve as a stepping stone toward more advanced data-driven strategies, including big data analytics and future CEM expansions.
By implementing this cost-effective solution, businesses can address customer frustrations more directly and efficiently, improving loyalty without the complexity and expense of larger systems.
Simple System Solution: Leverage the Right Technology
A modest investment in telephone technology can effectively safeguard a business and attract new customers by ensuring that all calls from unknown numbers are promptly addressed. By displaying detailed call data, staff can provide informed and personalized responses, making first-time callers and existing customers feel appreciated.
This system allows employees using landlines to make better-informed callbacks by tracking how many attempts a caller made, over what time period, and whether these attempts occurred during or outside regular business hours. Both management and frontline staff can determine whether the issue was resolved, transforming a poor customer experience into a positive one. Such efforts demonstrate that the business values its customers, creating goodwill that can lead to issue resolution—whether related to product inquiries, business dealings, or complaints. Enhanced visibility into incoming calls also helps businesses adjust staffing levels based on call volume patterns.
Conclusion
Call management systems are a cost-effective way to recover potentially lost sales and provide superior customer experiences. The data collected helps businesses understand customer behaviour and supports the goal of fostering strong customer relationships. This approach ensures a seamless customer journey by addressing missed calls effectively. For example, one builders’ merchant capitalized on 46.7% of previously missed calls, generating nearly $160 million in additional revenue. This demonstrates that call management can drive both customer satisfaction and financial success while addressing operational challenges.
Call Analytics for Microsoft Team Calling
For customers using Microsoft Teams as their UC platform, this type of visibility can easily be achieved by adding our TeamsCall Analytics platform to your tenancy.
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