The repercussions of these missed connections extend way beyond lost revenue today. It also impacts customers’ trust, the brand’s reputation, and long-term growth.
As the UK’s most trusted telephone answering provider, Bizik shares the hidden cost of missed customer calls.
The Financial Impact Of Missed Calls
Every missed call could represent a lost revenue opportunity that may never return. According to research by YourBusinessNumber, UK businesses collectively lose over £30 billion annually due to missed calls.
While some industries are more impacted than others, the financial consequences are far-reaching. For service-based businesses, such as estate agents, cleaning services and beauty salons, a missed call might mean a lost booking, which could add up to thousands of pounds in lost income.
A BT Business report estimated that the average cost of a missed call to a business can be as high as £1,200 when factoring in the potential lifetime value of a customer.
For smaller businesses operating on tight margins, every sale counts. These losses can accumulate rapidly, hindering a business’s growth and profitability.
Impact On Customer Trust And Loyalty
Customers today expect instant responses. When they know they will get their questions answered quickly, they are more likely to contact the brand and potentially complete a purchase.
However, when these expectations are not met, it can deteriorate a customer’s willingness to do business with that brand.
Research by Aircall indicates that approximately 85% of people whose calls go unanswered will not call back. A voicemail service is insufficient to keep a customer interested or loyal.
Moreover, dissatisfied customers are more likely to share negative experiences, potentially deterring prospective clients.
Brand Reputation And Perception
Repeated missed calls can tarnish a company’s reputation. Customers may perceive the business as unprofessional or unreliable, causing them to shop with competitors instead.
This reputation can quickly spread through word-of-mouth and online reviews, influencing potential future customers to avoid a business.
Operational Inefficiencies
Missed calls don’t just affect sales and customer relationships; they can also disrupt everyday business operations.
That’s because incoming calls might not just be from customers. They might also be from suppliers, partners, or other stakeholders, leading to miscommunications and delays.
For instance, if a supplier can’t get through to confirm a delivery, it might disrupt the business’s supply chain, causing delays that impact customers.
Similarly, missed calls from potential business partners could mean lost opportunities to collaborate or expand services.
Over time, these inefficiencies can compound, causing internal frustrations and affecting overall business performance.
How To Reduce Missed Calls
Businesses have three options for addressing and taking action against the challenges posed by missed calls.
Hire More Staff
The real cause of missed calls is not having enough people to answer the phone. By hiring more people, businesses can ensure there is enough manpower available to monitor phone lines and convert calls into sales.
However, businesses should estimate whether the large expense of recruiting and onboarding in-house staff is worthwhile.
Businesses must also provide ongoing training to equip employees with the skills to handle calls efficiently and create positive customer experiences.
Plus, there are employers’ taxes, holiday days, and other benefits, all of which can add up significantly.
Outsource Your Telephone Answering To Virtual Receptionists
This is the most cost-effective measure to ensure every call gets answered with consistent, high-quality care by a team of expert customer service receptionists.
Services like Bizik supply virtual receptionists who ensure all calls are answered promptly and professionally, even during peak times or after hours.
They can also route calls effectively, so a high-stakes or urgent inquiry can be forwarded to the relevant team member efficiently.
Their service is available whenever it is needed, and businesses only pay per second of customer calls that come in.
This provides great value for money, as businesses only pay for what they use. Plus, it means time and money saved recruiting and onboarding in-house staff.
Monitor And Analyse Call Data
Regularly reviewing call logs and identifying patterns can help businesses make more informed decisions about their customer service operations.
or example, by noticing when peak call times are, businesses can ensure they are adequately staffed during busy periods, minimising the risk of missed calls and improving customer satisfaction.
Similarly, analysing common queries can help identify areas where your customers need more support or more precise information.
This could mean providing more ‘self-help’ options like updated FAQs pages on the business’s website or enhanced product descriptions.
This should reduce the number of incoming calls, giving the customer service team more time to answer each inquiry as it comes in.
Final Thoughts
The hidden costs of missed customer calls include financial repercussions, eroded customer relationships, and a worsened brand reputation.
By recognising these challenges and taking action to ensure no call goes unanswered, businesses can ensure they capture every opportunity.
Why not try the UK’s leading telephone answering specialist, Bizik? Their trusted service provides businesses with their dedicated team of highly experienced virtual receptionists, trained to represent any brand with professionalism and warmth.
Get in touch to see how they can serve you, or try a seven-day free trial today.
