According to Call Center Magazine, 94% of all marketing budgets is spent on inducing a customer to call. Only 6% is spent on handling the call once it is received. I don’t know about you, but those numbers seem very lopsided! You’ve invest heavily in print, TV and other media campaigns in order to get the phone to ring. You’re getting a response to your marketing by getting people to call, which is exactly what you want to have happen, and that’s great! But, what happens if the caller hangs-up (caller abandonment) before giving you a chance to serve them? I’ll tell you what happens. Wasted marketing dollars and lost revenue – that’s what happens!
Now, placing callers on-hold, as much as you’d like to think doesn’t happen, is often an unavoidable occurrence, plain and simple. In fact, AT&T reports “More than 70% of business calls are placed on hold for, of which 60% hang up, and 30% of those never call back.” A study by North American Telecom also shows that; “90% of callers with silence on hold will abandon their calls in less than 40 seconds.” Research proves that there is however one solution that ensures that you’re making the most of every inbound marketing opportunity that supports your outbound marketing efforts, and for a minimal investment. That’s message on hold marketing!
A Telemarketing Magazine survey showed that 25% to 40% of callers make purchases based on information they heard while on hold. A US West Communications survey also determined that on-hold messaging generates a 15%-25% increase in requests for products and services mentioned during the on hold waiting period. And, National Call Center Service Association found that callers who listen to on hold messaging will stay on the line for up to three minutes longer than the alternative (silence, radio, canned music.”
Every inbound caller represents an opportunity for your business, so it makes sense to shift a small amount to messages on hold. Below, you’ll find 6 ways on hold advertising targets inbound marketing opportunities.
1. Promoting Your Other Products and Services
In a span of 30-45 seconds, you’re opening a goldmine for your business. During the time that you’re placing clients on hold, you have the ability to influence their decisions. By telling your clients about your latest or your most profitable products or services, you’re not only suggesting something into their decision-making process, but also potentially increasing your sales.
2. Cross-selling Related Products or Services
This tactic can really boost potential sales on the part of your business, but also integrates exceptional customer service. Your customers will actually be delighted. When you recommend companion or add-on products the clients’ feel a sense of you having their best interest in-mind and results in an enjoyable experience. Your customer enjoys optimum satisfaction, and you enjoy added profits!
3. Projects A Positive Brand Image
Successful business ventures rely most on the identity held by their brand image. On hold programming communicates timely, relevant branded information during that wait time. You can include in your content valuable information that can position you as a leader in the marketplace, and separate yourself from the competition.
4. Creates A Better Customer Experience
We’ve all been there. We call for support to hear those two dreaded words, please hold. They say nothing beats an exceptional customer service experience. A strategic on-hold marketing campaign can satisfy and engage those callers, and your messages can help customers in a variety of ways: Answer Frequently Asked Questions, give business hours and locations, provide information for any alternative support options they may wish to access such as live chat, forum groups, etc. This information is appreciated by customers and prospects, and goes a long way in how they perceive your telephone customer service experience.
5.Placing Your Business As the Industry Leader
Imposing into your customers’ minds how your business thrives as an industry leader is one way of safeguarding them from your competitors. Promote your latest industry awards and recognitions, or any professional associations with leading organizations will present a powerful impression, and puts a seal of authority and trustworthiness for your brand.
6. Drive Web Traffic and Grow Your Social Channels
Looking to grow your email marketing list? What about expanding followers on your social platforms? Your callers on-hold are not only captive with listening ears, they’re also your best prospects. Encourage them to visit your website and sign up for newsletter with tips and info, or to receive exclusive private special offers. If you’re looking to grow your fan base then let callers know where they can receive the latest happenings, contests, events, etc by joining your Facebook, Twitter or Instagram, etc.
As you can see, if you’re not effectively handling the inbound marketing opportunity at your business, you may very well be wasting valuable outbound marketing dollars. A battle not many businesses have won! Is your marketing budget a bit lopsided toward traditional outbound marketing? If so, then why not embrace messages on hold to capitalize on inbound marketing opportunities? With increased engagement during the call, the tactics listed above can help your business rise to the next level. Why turn-off your marketing when your prospect picks up the phone to call?