Pathways into your business. Is your advertising still advertising. Customer journey mapping is vital to understand what your customers see and encounter. Several pathways can lead to an interaction with your business.
Any business with a brick and mortar storefront visited by customers will invest considerably in space, décor, cleaning, lighting, and staff to present the business in the best possible light to impress its customers.
No business expecting to survive in the B2C or B2B space can do so without a strong focus on digital pathways. Digital marketing & IT can be well funded to provide web presence, SEO, tech stack, AI and social media. Add this all up and it probably exceeds the total cost of the brick and mortar.
While businesses tally the costs of these traditional paths, many fail to consider the equally important voice channel.
Analysis of five million calls on hold on three continents shows call wait times of up to three hours. It may not be a surprise that the longest wait times were at government locations, however, it was not uncommon to see wait times of 30 to 40 minutes at private businesses.
Businesses are thinking inside out. We spend millions on new IP phone systems and save billions off of telecoms bills by using data rather than PSDN or ISDN lines to make calls.
How Much is a customer worth?
Currently, 80% of businesses use Interactive Voice Response (IVRs), including most contact centers. Yet research shows 67% of callers dislike the music and IVRs because of its inconvenience. Try pressing one for this or two for that from a mobile phone, it’s not easy. With research saying over 50% of all calls are made from a handheld device, IVRs are becoming impracticable for the customer.
Do you know how long your customers are waiting on hold, in the queue to speak to a company representative?
What is the maximum amount of time someone has had to wait on hold? How many calls have to go on hold rather than be answered immediately? What is your businesses average on hold waiting time?
Don’t you think it would be good to find out?
In the digital age, Data is King, and without it we are unable to make informed decisions or develop strategies for change. The on hold industry is largely stagnant, and personalization is the way forward. Optimization of the touchpoint is necessary for the continued growth of an organization, helping to increase brand value and improve your customer’s overall experience.
What impact do lengthy wait times have on your business?
A customer’s waiting time directly impacts their evaluation of your services. Customers are choosing to engage with your business over the phone to receive direct service with little delay. Therefore, by keeping your customer on hold you are not meeting their initial expectations. Reducing wait time can be done in a variety of ways- from more service operators to improvement of your information systems so that enquiries can be resolved faster. Perceived wait time, relating to the time customers estimate that they are waiting on hold can be impacted through creative thinking and strategy. As the saying goes- ‘Time flies when you are having fun.’
So how to move forward?
There is no point in implementing strategy without it being based on facts and data. Call On-Hold Systems. We will ask the questions