How much is 1 phone call worth?

There are hundreds of call centers in the U.S. today and we all have one thing in common. Cost per call.

The funny thing is that each and every business (not only call centers) should be concerned with the same exact question. How much does 1 phone call cost you? How much are you willing to spend to get a customer, (maybe a prospective self storage tenant), who may be willing to spend $1000, or more, with you in his/her lifetime.

One suggestion we give to each of our clients is you MUST TRACK EVERYTHING. There are multiple tools (free or paid for) that can help you track everything, but as marketing budgets are being discussed right now, everyone must be asking “How much am I willing to spend to get a customer to call me?”

Here are a few key items to think about when determining your cost per call – there may be a few more depending on your business:

– How much did my advertising cost? – if you spend $1000 on an advertising piece, which produced 10 calls, you’ve just added $100 per call to your budget.

– How much did my labor/operations cost? – Probably the highest cost – but you can break your labor & operational costs into a “per day/per phone” call amount. It may vary day to day, but an average will work – a little help with this is here- http://www.ehow.com/how_5942532_calculate-cost-per-call.html

– How much am I losing by missing phone calls (at any time in the day)? – Every single phone call you’ve missed is wasted money. There are call centers like USstoragesearch.com’s out there that will answer every call your facility may miss due to a number of reasons. For every call that the call center converts for you, is an added tenant and therefore lowers your “cost per call”

Example: If you have just budgeted $300 per call and you only answer 7 out of 10 calls – you’ve just wasted $900 of your budget.

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