One of the most valuable metrics LogMyCalls provides is the percentage of total calls per campaign, source, etc. that are unanswered. We even keep track of who these callers are so our clients can call them back. It is a useful tool.
Stunningly, some business have unanswered rates approaching 30% to 40%. How is that possible?
Does the employee on the frontline–the person responsible for answering these calls–have any idea how valuable these calls are?
According to data from Hubspot the average BtoC company pays nearly $30 per lead. Our data is simliar except more profound. Calls, it turns out, are actually more valuable than the average lead because they convert to customers so frequently. How on Earth do 30% of the inbound calls to ANY business go unanswered?
That’s absolutely stunning.
An Anecdote
But the problems with unanswered calls don’t end with BtoC companies. Today we tried calling a SaaS provider to ask a simple question. This company sells marketing analytics tools to other businesses. We called twice–once in the morning and once in the middle of the afternoon. Our calls were not answered in either case. Instead we were routed into the mailbox of an marketing manager at the company.
I don’t want to jump to conclusions, just because our calls weren’t answered doesn’t mean that other calls aren’t being answered. However, it is a fairly safe bet that our experience is not an isolated one.
They lost revenue today.
What is More Important Than in Inbound Phone Call?
Our data shows that inbound calls are simply the best leads any company–whether BtoC or BtoB–can get. If someone calls you, they have already done their research and are in buying mode. They’re either asking final questions or they are ready to buy on the phone. No one calls to find out basic information anymore. They do that online. They call when they are ready to buy.
Inbound calls close 10x to 12x more frequently than inbound web leads. Let me say that again: when someone calls you, they are 10x more likely to buy from you than someone that fills out a web form. That’s a fact.
So, how come so many phone calls go unanswered?
I don’t know the answer to this question. But I do know that companies are losing out on thousands upon thousands of dollars in revenue because they are failing to answer every single phone call. At a tire retailer, for example, each call could be worth $600 or more. At a hotel, each call could be worth $120+. At a car dealership, a law office, a dentist office, or a SaaS office, the value of a call could be even more substantial.
In short, you are losing revenue if you miss calls. Period.
A Few Solutions
LogMyCalls tracks missed calls for you and will even deliver every unanswered call for the day or week. This allows companies to call unanswered callers back and try to win their business.
LogMyCalls also has the capability to route calls to cell phones or other phones in the office during odd hours. This allows our clients to cut down on unanswered calls.
But, the most obvious potential solution to unanswered calls is this: answer the phone! No matter what happens, or who is visiting, or who you’re talking to, or how much your back hurts, or how cranky you are, you always have to answer the phone.
by McKay Allen, Inbound Marketing Manager
