As far as telephone answering services are concerned, they offer a really great return on investment or ROI. Especially if you do not make the cardinal mistake of looking at a telephone answering service based purely on its cost alone rather than a essential resource . Here, the best wise approach would be to view the call answering service, purely as an investment and to then proceed to calculate its returns, accordingly.
In order to calculate ROI, simply take the revenue that has been generated by the investment and then proceed to divide the same,by the total amount invested and then multiply this figure by 100. This will give a percentile answer, with the higher the percentage amount, the better would be the overall investment. As a matter of fact, following this principle would essentially recast the call handling service as a very important revenue provider for your whole company, rather than an expense that needs must be managed properly.
Here are the a few really important factors to take into consider when looking at the ROI of a call answering service
o Taking orders
If it’s a phone answering service for a small business, then does it take any sort of phone orders for you? If it does not do so, then it really should. Whatever product or service you sell, it is important to understand that at least some people will definitely place phone orders for them. Yes, a website ‘can’ potentially handle orders, but nevertheless at least some customers will have certain questions, or they might even encounter different problems, or some people just plain feel a whole lot more comfortable talking to a real person about the transaction. This is the part where your telephone answering service can help them get over their pre-purchase worries
The total monetary amount of each phone order that your answering service takes and the amount of each order that they assist in, can be used to calculate your return on interest or ROI. Once you add these numbers together for the whole month you will be able to determine the total return for your answering service investment. Without a fully functional answering service in place, none of these orders would have been taken and all of that revenue would have remained unrealised.
o Making appointments for you
Apart from that, your telephone answering services should be suitably well equipped so as to be able to set relevant appointments for all of your sales team. The thing is that customers may potentially inquire about your company’s various products or services at any hour of the day when they feel inclined to communicate with you. Your answering service an easily take the order on your behalf.
You should be able to figure out the total volume generated in terms of revenue generated via these appointments. Add these numbers up for the whole month, and they will also become an important element for your overall ROI calculation. Here again your answering service will play a crucial role in these appointments being made so that further revenue could be earned.
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