The Cost of Missing Calls

Business calls are one of the main ways that leads are generated for most businesses. Because of this, a single missed call can mean thousands of dollars in missed revenue and a poor reputation. Stop taking on the cost of missed calls by utilizing a professional answering service. Posh offers a 24/7 phone answering service designed to make a good first impression on your valuable customers. Learn more about the true cost of missing calls below.

Why You Miss Calls

There are various reasons why a business may not answer a call. Each of these reasons has its own downsides and effects on your customer’s experience. 

Not Open

One of the main reasons that calls go unanswered is that a business is not open. With an increasing number of individuals working from home, many businesses may get calls outside of normal working hours. When someone is not available to answer the phone, this can cause potential customers to hang up and forget about calling back. 

Too Busy

In addition to a business not being open, some businesses receive so many calls that they are too busy to answer the phone. If all the available receptionists are busy with a current customer (whether that be in-person or over the phone), then phone calls go unanswered. If a customer’s call is not picked up in a timely manner, many callers will hang up and may not try again.

Goes to Voicemail

Even if a business has an answering machine, most customers do not leave voicemails. According to a recent study, 80% of customers that reach a voicemail will hang up without leaving a message. The reason for this is that they believe their message will not be heard, responded to, or addressed. That is a large portion of your customer base that you can lose out on. 

The Danger of Missing Business Calls

While it may not seem like a big deal at the time, missed business calls can result in many missed opportunities. The true cost of missing business calls is not limited to a monetary amount; aspects of your business, such as your reputation, are also affected. 

Create a Customer for the Competition

When you miss a business call, many customers will choose to call a different business to meet their needs. Instead of putting off the problem and attempting to call again, many customers will choose to call a different business to address their problems. Now, not only are you losing out on a potential customer, you are creating a customer for the competition. 

Reputation Cost

Valuable leads take months to find and seconds to lose. If you miss a call, that can cost you valuable reputation points and increase the time spent finding customers. Your business’s reputation is essential to its overall success. If you are considered a reputable business, you will likely get calls and potential customers. With an increasing number of crowd-sourced reputation companies (such as Yelp, Google My Business, Angie’s List, etc.), a single missed phone call can lead to a poor reputation online. And because many customers find businesses through an online search, a poor online review can sway their decision. 

Lose Money

There is no second chance on a first impression. The actual cost per missed call varies depending on the type of service/product you provide and your call-to-lead ratio. If, for example, you have a call-to-lead ratio of 20%, that means that out of every five calls, you make a sale. Now, let’s say that every sale averages $250; that means that after missing 5 calls, you miss one sale opportunity. Imagine you average 15 missed calls a week, which means you lose out on $750 a week and $39,000 a year. For some businesses, the call-to-lead ratio and sale price are much higher. That means your business is potentially losing tens of thousands of dollars annually—just on missed calls. 

How to Take Back Your Business Profits

As you can see, missed calls mean more than just missing money. They can mean missed customer relationships, poor reputation, and competition with new customers. Take back your business and stop the cost of missed calls with a live remote receptionist. With a live remote receptionist, your business calls are always answered, meaning you never have to miss a call again. Plus, every call is answered by a live person, ensuring your customers don’t have to deal with frustrating bots that don’t understand them. Plus, the best virtual receptionist services offer bilingual, 24/7 support, ensuring your customers are taken care of outside business hours. 

Posh’s Professional Answering Service

Are you ready to regain your profits and build up your business’s reputation? Try out Posh’s 24/7 phone answering service. Our live remote receptionists are trained to answer your phone and make a good first impression on your customers. We seamlessly integrate ourselves into the customer experience through personalised call handling, the intuitive Posh app, and 24/7 customer support. All of these features have helped us offer the best virtual receptionist service available. Let us become a part of your team.

Try Posh for free for 7 days!