21 April 2015

Can A Call Measurement Company Help Ease Growing Pains?

Remember that one childhood summer when you grew two, three, or four inches taller seemingly overnight? Maybe you woke up and your jeans were way too short, or your shoes no longer fit. While it was fantastic to finally be growing up and getting taller, you felt a little bit of pain, too. All of that stretching, while a good and healthy thing, left you a little achey.

Fast forward a couple decades, and now you’re facing a similar problem with your small business.

Maybe this sounds familiar to you:

“I just can’t put my finger on it. Our numbers are up and the business is growing, but I feel more stressed and pressed for time and resources than ever before! My head’s in a vise grip, and I don’t know what to do about it.”

The same growing pains we experience physically happen as our businesses mature, too. However, this time, instead of dealing with simple issues—too-tight sneakers and too-short pants—business growing pains can lead to serious problems in your maturing company.

In an article called (Ouch!) The 10 Common “Growing Pains” Of Stage One Business Growth, the author describes ten growth pain factors in “Core Business Development,” also known as the first stage of business growth. “The sooner you can blast through the challenges commonly associated with the first stage of business growth,” she states, “the more quickly your small business will grow” because you’ve removed the hurdles that are stealing your time, energy, and resources. She goes on to outline these 10 frequent growing pains:

The Most Common Growing Pains

  1. Burnout: physical, mental, and emotional.
  2. Ad hoc planning: the type of planning involving “putting out fires” and handling the “squeaky wheel.”
  3. Overly optimistic goals: commonly referred to as “unrealistic” related to setting improbable expectations and goals.
  4. Poor cash flow: when the money runs out before the month.
  5. Under-pricing: pricing below what’s needed to keep you in business
  6. Under-earning: the evil twin of under-pricing.
  7. Poor system development: systems developed “as needed” or when current talent leaves your business: along with your business expertise and knowledge.
  8. Undefined roles: even “me, myself, and I” are uncertain of the next best steps.
  9. Inadequate funding: what your parents aptly labeled, “you can’t get blood from a turnip.”
  10. Missed opportunities: what happens while you’re dealing with the “growing pains” listed above.

Easing Growing Pains With A Call Measurement Company

To combat growing pains as a child, your mother probably insisted you eat more veggies and fruits, and get plenty of rest—and you probably weren’t too excited, although you realized eventually that listening to her advice actually worked.

Treating business growing pains requires a little bit of the same kind of medicine. One of the best tools for getting past the hurdle is call measurement. Here’s how a call measurement company can help ease your business pains:

1. Measured marketing helps you control your budget.

It’d be impossible to find an entrepreneur (who’s still in business!) who didn’t pay careful attention to his or her budget. When your business is on an upswing, you’re spending significantly more money—and in multiple places—than you did when you first set up shop.

As the saying goes, “you have to spend money to make money.” However, most growing pains happen when small business owners can’t keep up with the myriad changes in cash flow, income, and spending across their company. As your business grows, increases in payroll, overhead, marketing, attorney fees, and hiring costs—just to name a few—pile up quickly. It’s easy to lose track of where all of your income is going if you’re not paying attention.

Call measurement gives you the ability to keep track of your marketing budget by giving you data to validate your spending. Instead of dumping heaps of cash into advertising methods that aren’t fruitful, measured marketing shows you exactly how much you’re spending on every call. Once you’ve placed a unique phone number in each marketing piece/medium and learned the cost per call, you can use conversion analytic call tracking to go a step further.

With conversion analytics, you can find out how one advertising medium stacks up against the other in terms of conversion rates, so you know where you should continue to spend your marketing dollars and where your money is not providing a good investment. With call tracking, call recording, and call evaluation, you’ll be able to keep your budget on track by knowing which medium converts best into a final purchase, sale, or appointment.

2. Goal setting is easier with call measurement.

One of the biggest obstacles growing businesses face is ad hoc planning. Instead of being precise and strategic about where they want the business to be in the short- and long-term future, owners are distracted by the details.

Setting business growth goals is easier when you have a benchmark from which to measure from. When you track and record your calls, your data can be used as a starting point for future progress.

This process is discussed in detail in Call Measurement Goal Setting 101. Take a look! By setting aside time to develop business goals and then revisiting them frequently, you’ll be able to know where you stand and what steps you need to take in order to achieve success.

What else can a call measurement company do for me?

Call measurement is just one aspect of what you can do with your data to improve your sales and customer service performance over the phone. In addition to call tracking, here at Callcap, we offer call recording and call evaluation tools that ease your growing pains. Here are a few ways these tools can help:

  • With call evaluation, you can find out about any opportunities your business missed while you were out fighting fires. Our Callsurance call evaluation solution provides real-time monitoring of your incoming phone calls, so you can rescue a potentially lost sale from the hands of a competitor by calling the customer back and overcoming their objections before they have time to give their money to someone else.

  • With call recording, you can find out exactly what your customers and your employees are saying to each other, about each other, and about your company. You can use call recording to prevent costly customer service catastrophes and prevent he said/she said situations. You can have peace of mind about what your employees are doing on the clock, even when you aren’t there to monitor them in person.

You’re not alone when it comes to dealing with small business growing pains. We’re here to help! To find out more about what capabilities your business can gain with a call measurement company, give us a call at 844-920-9188.