The Cost of Missed Business Calls

Summary: 1 in 3 business calls in America remain unanswered. And 70% of those callers never call back! Ever wonder what the real cost of those missed calls are? Use the 'call calculator' at Moneypenny.com to find out...

Finding new clients is often very time-consuming and costly. Businesses spend millions every year hiring marketing agencies and PR firms to build increase their number of leads and inquiries.

For small businesses that don’t have the budget to hire an agency, they may have to do all of the marketing themselves. Research and writing blog posts, updating social media every day, creating and managing advertising campaigns - it can take more time & effort than doing your actual job!

With this in mind, it’s somewhat surprising that 1 in 3 business calls across America are missed. If someone is willing to take the time & effort to pick up the phone, they are much more likely to convert to a sales-opportunity than someone who, for example, sends an email.

Business owners may think that this is not an issue as any potential clients will leave a voicemail message - but according to statistics from Moneypenny.com - nearly 70% don’t.

This is a huge issue for businesses but it can be an exhausting juggling act, trying to focus on the work at hand, whilst also answering all inbound phone calls. Understandably, 41% of phone calls to construction companies are missed - it’s a bit tricky to answer the phone in the middle of a noisy & dangerous building site.

Some other interesting statistics include:

• 10 am is the busiest time for business phone call inquiries
• Tuesday is the busiest day for phone call inquiries
• 36% of calls to retail companies are missed

Potential clients & customers want quick answers, especially in this high-tech, high-speed age. For many, it could be highly cost-effective to invest in a call answering service.

Visit Moneypenny.com to use their call calculator, which will estimate the true cost of missed calls to your business.