27/08/2023
Small Businesses and the Challenge of Managing Large Volumes of Incoming Website and Phone Leads
Small businesses often juggle myriad tasks, from operations and HR to marketing and sales. One area that can be particularly challenging is managing large volumes of incoming website and phone leads. With today's digital landscape facilitating greater customer outreach, small businesses can be inundated with potential clients reaching out for more information, seeking assistance, or ready to purchase. This unprecedented customer engagement has both benefits and drawbacks
According to a study by BT Business, a UK telecom company, small businesses in the UK lose approximately £90 million ($122 million) in sales every year due to missed calls. In the U.S., a report by VoiceNation reveals that businesses miss around 62% of their phone calls. For small businesses, these statistics signify a huge chunk of missed opportunities and potential revenues.
Unanswered Queries: A Missed Opportunity
Customer queries, whether they arrive via website chats, email, or phone calls, often lead to direct sales. Ignoring or missing these interactions can significantly affect a small business's bottom line. In fact, an Invoca study found that 80% of customers said they were likely to switch brands after a poor phone experience, and 30% did just that.
The problem is compounded when you consider that, according to a study by Drift, businesses answer only 7% of messages received through their website chat within five minutes. The rest, unfortunately, languish, leaving potential customers unattended and businesses missing out on possible conversions.
Moreover, in today's digital era, where information is at our fingertips, customer expectations are at an all-time high. A survey by SuperOffice found that 88% of customers expect a response to their query within 60 minutes, while 30% expect a response within 15 minutes or less. This puts a tremendous amount of pressure on small businesses that may lack the resources to meet these expectations.
The Roadblocks for Small Businesses
So, what prevents small businesses from efficiently managing incoming website and phone leads? The reasons are multi-faceted.
Firstly, small businesses often struggle with limited resources. They might lack the manpower necessary to answer calls, reply to emails, or engage in real-time chat with website visitors.
Secondly, prioritisation can be challenging. The volume of incoming inquiries might be overwhelming, making it difficult to discern which leads are likely to convert into actual sales.
Finally, small businesses may lack the necessary tools and systems to effectively manage leads. Customer Relationship Management (CRM) systems and automated response software can be pricey, and these are expenses that a lot of small businesses can't afford.
Bridging the Gap
Small businesses need to explore cost-effective, efficient ways to manage incoming leads. Here are a few strategies:
- AI-Powered Chatbots: One of the most promising advancements in this area is the use of Artificial Intelligence (AI) powered chatbots. These sophisticated bots can handle a surprising number of customer interactions, effectively answering common queries, scheduling appointments, and even guiding customers through a sales funnel. By operating 24/7, they can dramatically improve response times and free up human resources for more complex tasks. Research shows that chatbots can resolve 80% of customer issues, and according to a study by OutPLEX, over 80% of businesses that used chatbots reported increased customer satisfaction.
- Automated Response Systems: Even if a full-scale CRM system isn't feasible, smaller-scale automated response systems can be a cost-effective solution. They can help manage incoming website and email queries, providing immediate responses that can appease customers until a human can step in.
- Virtual Receptionists: Hiring a virtual receptionist can be a practical solution to managing phone calls. They are generally more affordable than a full-time in-house receptionist and can offer after-hours services.
- Prioritize and Categorize Leads: Implement a system to prioritise leads based on their potential value. This can help businesses focus their efforts where they're most likely to see a return.
The challenge of managing large volumes of incoming website and phone leads is a real and pressing issue for small businesses. However, by understanding the potential impact on their bottom line and employing smart strategies to deal with the deluge, these businesses can capitalise on the opportunities offered by this digital age.
