What’s really going on with your inbound phone calls? If you’re not paying close attention to your business, you may not notice that there’s trouble beneath the surface—and the results could damage your bottom line.
The last thing any leader wants to hear is that their division is responsible for a loss in profit. However, when your customers aren’t being treated the way they should be over the phone, that’s exactly what can happen—every customer who hangs up the phone unsatisfied has more power than you may think. Check out these stats from Inc.com:
- Unhappy customers are three times as likely to tell their friends your company provided a bad experience.
- You’ll spend 6-7 times more to try to win new customers than you would if you’d kept your current customers happy.
- In the U.S. economy, unhappy customers cost businesses $537,030,000,000 annually.
That dollar sign? That’s why it’s critical that you’re paying attention to what’s going on in your business—especially over the phone.
Here are four signs your current phone operation isn’t cutting it.
1. Your call volume is growing rapidly.
Yes, you read that correctly—a rapidly-growing call volume is actually a warning sign! However, it’s one problem that, when addressed, can lead to increased profitability and happier customers.
The problem is this: customers hate being on hold. 35% of customers quit using or purchasing from brands who keep them on hold—to a tune of $100 billion annually.
If your call volume is growing quickly and you don’t have enough employees to handle it, you’re leaving one (or several) customers on hold. And if you do it for too long or too often, they will go elsewhere. With a call center that implements call tracking and call evaluation, you’ll know exactly how many employees you need to keep your customers happy, and you’re able to scale up or down based on seasonal changes and advertising demand, to name just a couple.
- Wait times.
- Increased call volume.
- Increased sales.
2. You have a lot of unhappy customers.
It’s impossible to please every customer, but complaints should be the exception, not the rule. If you’re noticing an increasing trend of customer dissatisfaction, reevaluate how you’re handling your phone calls. Your current processes may be pushing current and future customers away—right into the arms of your competitors.
- Sudden decrease in profits.
- Fewer new customers.
- Fewer return customers.
- Fewer referrals from customers.
- Negative online reviews.
3. You have high employee turnover.
A revolving door of new hires is an obvious sign that something isn’t working with your current in-house phone center. A cycle of bad hiring is the most expensive mistake businesses make, which costs anywhere from 10% to 213% of an employee’s salary to fix.
- Retention rates.
- Employee satisfaction rates.
4. Your in-house technology is outdated.
You may be missing out on huge potential profit streams if you don’t have up-to-date technology.
- Want to make sure you don’t miss a sale because one of your employees is having an off day?
- How about having the power to call and win back a customer who didn’t have a great experience the first time?
- What happens to your customer calls when severe weather or disaster strikes? Will you be stuck losing profitability for a day, week, or month because you don’t have the infrastructure to have your calls rerouted?
Old school technology won’t help you with any of this—that’s why having a third-party partner like Callcap is so crucial. We’ll work with you to figure out exactly what level of customization you need in order to run your business to its fullest potential. We’ll also discuss if your call volume is something you can handle on your own or if you should partner with a call center.
- Outdated and expired systems and equipment.
- Expired warranties and service.
- Missed opportunities for sales.
- Employee misbehavior.
If any of these sound familiar, it may be time for you to investigate how a call center can help you increase your bottom line.