In the third and final part of our series, we’re going to discuss the total opportunity cost of a missed business call and provide a solution to this little-known business expense.

The total

If we look back at our formula for estimating an opportunity cost, we can start to put this puzzle together. 

Let’s bring our old friend John’s Sports Apparel back into the mix. By missing a couple of calls here and there, perhaps because he’s busy with other client work, John is losing $11,520 in potential annual revenue and $2,880 of the annual marketing budget. Not only that, but missing these calls is damaging his customer service reputation. 

A potential loss of $14,400 alongside a negative reputation… The stakes are getting high just for missing a handful of phone calls.

On the other hand, as we discussed in the previous article, if John decides to neglect his current work in order to answer every incoming call, he could be losing out on 300 hours of productivity a year!

When the phone is ringing, it’s a tough split-second decision to make. But what if you didn’t have to? What if John could keep that 300 hours of productivity, at no risk of losing the potential $14,400 in revenue or of damaging his company’s reputation?

Well, good news: he can! With one quick and easy solution John can maintain productivity and growth, all while increasing revenue.

 

The solution

By partnering with a 24/7 live call answering service, your business can benefit from the expertise of professional receptionists, without having to spend the overheads on training in-house staff. AnswerForce virtual receptionists have a 99.9% live answer rate – with most calls answered within two rings on average.

 

Busy with existing customers, but afraid to miss a new inquiry? AnswerForce can screen your calls, identifying which inquiries represent a potential new customer. For general calls, our professional agents can take a message or provide information, such as business hours and locations. For new customer calls, the team can transfer the caller straight to you, or even process orders on your behalf.

Worried about losing the personal touch? With AnswerForce, we never use bots or answering machines. Every call is be answered by one of our dedicated receptionists, providing a real human connection, 24/7, 365 days a year.

Want to keep your image? AnswerForce receptionists work from a script customized by you. This ensures that the call handlers are able to answer specific questions about your business, and it also means that every call is answered with your business name. Every caller is greeted by a friendly human voice.

What about productivity? We’re passionate about helping small businesses grow and thrive. When you redirect calls to your AnswerForce line, you can forget about the stress of incoming inquiries and instead focus on other responsibilities. If you wish, we can even help capture leads and set appointments on your behalf.

Concerned about staying updated? At the close of each call, a receptionist will summarize the caller’s details and reason for getting in touch. These detailed reports will be sent directly to you, and they can be accessed via the AnswerForce app, SMS, or email.

Not sure about partnering with an answering service? When you register with AnswerForce, you have the freedom to change your plan at any time, depending on your needs. We can scale alongside you, as your business and call volume grow, or we can reduce your number of call minutes during quieter periods. It’s your choice!

Let’s take a last look at John and his sporting apparel store.

If John decided to partner with AnswerForce, the best fit for his business would be our 300-minute plan, which comes with 50% off the first month, at $149.50. This is a full-service plan which includes all the features John needs to grow his business. And just like that, John is now able to maintain productivity and growth, while increasing revenue.

Working with AnswerForce, John will never miss a potential customer inquiry, no matter the hour. Plus, he no longer runs the risk of damaging his reputation by missing calls.

 

As we’ve seen, the opportunity cost of a missed call is much greater than initially expected. An unanswered phone can have a variety of negative effects on your business, but you can avoid having to make this difficult decision.

When you partner with AnswerForce, opportunity costs become opportunities. It’s your call.