Can You Afford To Lose Business During a Recession? How Call-Answering Can Help
Posted on 24th February 2023 at 17:44
The last few years for UK business have been turbulent at best. Firstly, the impact of Brexit, then the COVID pandemic. As we enter 2023 with rising energy costs and a rocky economic forecast, many businesses are now focused on ways to survive and ride the wave of the recession.
Some of the simplest tactics a business can focus on during challenging times involve being proactive on the front line. We’re going to explore how a call answering service can assist with building a solid structure for working through business downturns.
According to research by Accenture, 89% of customers have switched to doing business with a competitor after receiving poor customer service. The average rate of customer retention across all industries is 65%. This means that for every 100 clients, a business will retain 65 over a given period. Providing high levels of customer service can assist with the retention of customers. A good call-answering service will not only represent your business around the clock but ensure their team is fully trained in providing the best customer service and full training to their team to meet the needs of their clients.
Capturing enquiries and new sales
Capturing calls and enquiries can be the lifeblood of your business during an economic downturn. It is estimated that businesses in the UK lose over £30 billion a year in revenue due to missed calls. Additionally, 85% of people whose calls go unanswered will not call your business back. People prefer to speak to someone knowing a message has been received than leave a voicemail. A professional call answering service will ensure all calls are answered to a high standard and around the clock for your business. 60% of consumers expect a business to be able to communicate 24/7, and call answering or live chat can assist with this.
Help with skills gaps and recruitment costs
Since the pandemic, recruitment has suffered immeasurably. Skills gaps continue to increase, and additional strains in competitive job markets continue. With the cost-of-living crisis on the cusp of its next phase, 1 in 5 employees plans to job hunt over the next year, with a further 60% putting salary as a priority. The team at The Call Answering Company are experts in filling skills gaps for their clients using short-term cover or handling a fully outsourced virtual reception service.
Many businesses will also look at the cost of a call answering service on their overheads when the financial impact can be positive. A call-answering service can be more cost-effective when comparing employment costs, including salary, employers' National Insurance, holiday pay and sick pay – particularly for those organisations where out-of-hours or evenings, weekends and bank holidays require cover. For example, an outsourced reception service can save the average business £14,000 annually. We provide a host of industry comparisons on our website.
To find out more about how we can guide your business through the recession, get in touch today.
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