The El Dorado of Marketing
According to a study by analytics firm Marchex, the average person will collectively spend 43 days on hold. That’s 1,032 hours, which is over half the amount of time a 40 hour a week employee spends at work per year. That’s a lot of time. While putting people on hold is a necessity, that doesn’t mean we should necessarily waste their time while on hold. Additionally, you may be missing out on an ability to connect with your customers.
Let’s say, you are running a new promotion. A customer calls with a separate inquiry and needs to be put on hold and they hear the radio or silence while waiting for you to return to the call. You’ve not only risked agitating your customer, as up to 80% of customers will hang up if they hear silence while on hold, but you’ve also missed an excellent opportunity to inform the caller of this new promotion.
Human beings are notoriously bad at multitasking, so it’s reasonable to assume that when people make a phone call they are giving their fullest attention to the call. Draw on your own anecdotal experience and consider what you, the reader, typically do when you first call a business. You are usually attentive to the call, focused on the conversation, perhaps pacing around the room, but by in large you are fully engaged in achieving what you were hoping to gain from the call. Hence, the astute marketer would consider trying to leverage that heightened attention.
Marketing is about getting people to pay attention to your message. Perhaps it’s utilizing striking visuals, humor, or other attention-catching methods. Perhaps it’s saturating the airways and presuming that people will eventually hear your message, even if it takes a few times. The point being, it’s difficult to get people to listen, and when people call your business you have the maximum of their attention. In the marketing world, it doesn’t get much better than this.
By adding on hold message to your marketing mix, you’re not only assuaging the pain of being on hold your customers will feel if they are met with the radio or silence, but you are also leveraging an incredibly attentive audience. You’ve turned a negative into a positive into a potential sale.
According to a study by Stan Rapp and Tom Collins of Maximarketing, 88% of callers preferred on hold messages to other hold options, and 16-20% made a purchase based on an on hold offer. 16-20% is a staggering conversation rate for an automated marketing effort. As a reference point, the average conversation rate for direct mail marketing, which has one of the highest response rates compared to other marketing methods, is 4%.
If you’re ready to make your customers happier and receive a five-fold ROI over traditional marketing efforts, it’s time to call Hold On Now and talk with us about how to make on hold messaging work for you.