Captive Marketing is an easy way to cross sell to your existing clients. You may be an Insurance company that sells car insurance. Yet your customers don’t know you sell home insurance as well. The captive market is an opportunity to maximise revenue from your existing customer base.
Because business perceive mass market advertising as more important. On hold marketing is seen as either ineffective or not important. Well we beg to differ and below are some facts to prove our case.
On average it is 5 times more costly to find new Business versus increasing existing Business.”
It is on average 94% of all Advertising Budgets are allocated toward making the Telephone ring – only 6% is spent handling the Client once the Call comes in.
also on average 97% of Client contact is by Phone.
70% of all business calls are placed on hold at some time.
60% of business callers will hang up if left on hold in silence for over 3 minutes.
88% of callers prefer on-hold messages to other options.
12% of callers make a decision or purchase based on on-hold information.
66% of businesses using on-hold marketing directly promote products and services.
96% of companies using on-hold marketing felt it improved their company’s image.
97% of companies using on- hold marketing would recommend it to others
35% of callers who hang up when on-hold will never call back.
55 seconds is the average hold time for companies with more than two telephone lines.
The average Executive spends 15 minutes per day or over 60 hours on hold annually