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How Does Telephone On Hold Music Benefit Your Company?
Music on hold, commonly abbreviated as MOH, is a business technique in which music is played on a music on hold player at the time the caller waits to be served. Common sources of telephone on hold music include stock MOH CDs (with or without intermittent voice-overs like 'please stay on the line'), custom-made MOH (with or without intermittent voice-overs), radio, off-the-shelf commercial CDs, and even online on hold. Your business will benefit a lot from music for hold.
As per recent AT&T research, up to 70% of calls are placed on hold for more than 30 seconds. Cases where the callers were on 'silent hold' resulted in call cancellation rates of around 75%. 80% of these callers hang-up within 1 minute. The same research revealed that callers with music for hold stayed on the line for around five minutes more. You should thereby, attempt to keep customers/clients on the line for as long as you can and this is feasible with a music on hold player.
The same AT&T study showed that 30% of callers purchased other products/services depending on what they heard during on hold and 25% of callers made purchases depending on sales suggestions while on hold. A recent CNN study showed that 90% of callers liked on hold messages over silence. You should thus, take advantage of this opportunity to convert the music on hold into an advertising system. You will get better ROI (return on investment) using MOH.
Your business takes advantages from telephone on hold music as most of these callers never called back. The CNN survey revealed that 35% of those who cancel the line never call back. MOH ensures that you get customer loyalty. The individuals who hung up do so due to boredom or disappointment and intermittent voice-overs like 'your call is important to us' and 'someone will be with you shortly' holds them on the line.
MOH is beneficial in that it complements other advertising methods such as branding. The voice-overs will be professionally composed and recorded, and involve promotion of your business, the products/services it sells, and your website and its specification in the telephone on hold music. You could also stimulate your customers to take action because a call to action makes a huge difference in a sale. You could talk about the strengths of the business and your specialty. A music on hold player handles various sources of music, indicating you will not have unwanted mess. A music on hold player can be handled by only one person.
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