3 Ways to Improve ROI with Telephony

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Bar_ChartReturn on Investment isn’t the first thing you might think about when it comes to telephony. More common thoughts might be; is my telephony service good enough? Do customers hear me clearly when talking on the phone? Am I paying too much for my telephony?

At the end of the day it is a service and you want the best value for your money.

But it’s not necessarily about how much money can be saved, but how much more can be made.

There are three main areas that can help you get better ROI from your telephony: Customer Experience, Customer Retention and Billable Time & Accuracy.

1) Customer Experience:

Can you honestly say that when someone rings the office that they go through to the right person every time? Or that there is never a missed call or voice mail that slips by?

Think of every time you have been on the phone to a company and have been made to wait ages and even when you do get through to someone, you are then just passed to the next person. It’s frustrating, isn’t it?

Through telephony reporting, you can see the statistics on how many calls you’re missing or how many are going through to voice mail and not being called back. You can use the data to tighten up your telephony operation and make sure that Customer Experience is top-notch for anyone calling your company.

Make sure that they’re not waiting long to be spoken to and when they do get through, they are going through to the right person!

2) Client Retention:

It can be easy to lose track of how often you might be in contact with a client, especially if it is a client that you don’t deal with regularly. 

With reporting, it is made easy to look at how often a client has been contacted or how often the client is contacting you, based on this information, a decision can then be made to contact the client to maintain business. 

For client retention, it’s also important to know whether they get through to the right person when they call. If a client calls regularly, it might get frustrating going through to reception every time and then going through two other people before finally speaking to the right person. 

Through reporting software, it is also possible to see the outgoing call traffic and an individual owner’s phone traffic. Is everyone calling their client back when they have missed the call or when the client has left a voice mail? 

And how long is it taking to call them back? There’s no value in waiting a week after they’ve called, by that time, they could have gone elsewhere!

3) Billable Time and Accuracy

Possibly the most clear-cut in terms of value, although it won’t apply to everyone! Billable Time & Accuracy works best in industries such as legal, accountancy and consulting – effectively industries where time spent on the phone is considered billable time!

There have probably been times when a client/customer disputes the invoice at the end of the month. When you try to tell them that X amount of time was spent on the phone, they might disagree and the dispute ends up in a discount for the client – not very fair on you!

But with the use of reporting, you can provide the client with an accurate breakdown of the time spent on the phone with them – therefore, you don’t lose out on the money that is owed!

Better still, you might be able to bill more money per year to increasing the ROI from telephony. 

Imagine this scenario:

You are working in a company with fifty fee-earners. Each fee-earner spends five hours a day on the phone at a rate of £20 per six-minute slot. That equates to £1000 a day per fee earner, or £50,000 per day overall. 

Now imagine that every fee earner spent an extra six-minutes on the phone every day. Assuming there are 253 annual working days, that adds up to £253,000 a year, all from an extra 6-minutes a day. 

Not bad, eh? 

And okay, this example might not reflect you and your business, but it gives an example of how accurate billing and time can improve the ROI from telephony. 

Learn more about Concert’s Cloud Telephony: