What are Missed Calls Costing You?

We’ve all been on the receiving end of a missed call at some point. You call a business to ask a question, and instead of a prompt answer by a professional, you get a voicemail, put on hold, transferred over and over, or just have to listen to continuous ringing until you finally give up. It’s annoying and a waste of time when it happens to us. But what about when it happens to a customer calling your business? Far from being just a nuisance, these missed calls could cost a lot of money.

Business owners should already know the importance of being available to answer phone calls and handle customer inquiries. What’s less easily determined, however, is the potential costs of missing phone calls. How much business are you losing when you fail to answer a call? Let’s take a look.

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Why Did You Miss a Call?

Missing a call on your personal phone might just mean you were away from it and didn’t hear the ringing. However, missed calls on a business line tend to have more serious causes. You might have had multiple other customers on separate lines that you couldn’t ignore in favor of a new caller. Alternatively, maybe you can’t spare even a moment from your other work to pick up the phone. Whatever the case, a surplus of missed calls could indicate a deeper problem in your business structure as a whole.

Pro Tip: If you notice a trend of missed calls, take note of any common factors (such as the time of day they tend to occur). What could be causing this problem?

What Each Missed Call Costs You

Of course, measuring the exact amount of money lost with each missed call is difficult. Factors include everything from your location to your business hours to the customer service your callers receive. However, a 2014 study by BT Business estimated that each missed call could be costing your business nearly $1600 in lost potential revenue. Aside from losing money, regularly missing calls could also take a toll on your business’s reputation. After all, customers may conclude, if you can’t be trusted to do a simple thing like answer their phone call, how can you help them with their needs?

How to Fix This

Missed calls often stem from simply not having the time or manpower to handle the daily influx of ringing phones. Rather than adding even more work to your plate or expanding your payroll expenses to add more employees, save yourself time and money with an answering service. Trained professionals will answer every call for you and take good care of your customers. You’ll be totally in control of all communications, and you’ll never have to worry about another dropped call.

Never Miss Another Call!

Every unanswered call spells lost revenue for you and your business. Why let that continue? With a diligent answering service to keep track of your calls, you’ll always be in business and ready to take care of your customers. Don’t let missed calls cost you any more money.

Join the conversation to learn more about how an answering service can help you.