Music on hold, popularly abbreviated as MOH, is a business practice whereby music is played on a music on hold player while the caller waits to be served. Ordinary sources of telephone on hold music are the stock MOH CDs (with or without periodic voice-overs for example 'please stay on the line'), custom-designed MOH (with or without intermittent voice-overs), radio, off-the-shelf commercial CDs, and online on hold. Your business will benefit a great deal from music for hold.
Based on recent AT&T research, as much as 70% of calls are put on hold for over 30 seconds. Situations where the callers were on 'silent hold' resulted in call abandonment rates of around 75%. 80% of these callers hang up within 1 minute. The same study showed that callers with music for hold remained on the line for up to 5 minutes more. You should therefore, attempt to keep customers/clients on the line for as long as possible and this is achievable through a music on hold player.
The same AT&T research revealed that 30% of callers bought extra products/services depending on what they heard while on hold and 25% of callers made purchases depending on sales suggestions while on hold. A recent CNN survey showed that 90% of callers preferred on hold messages over silence. You should therefore, utilize this opportunity to turn the music on hold into an advertising technique. You will get better ROI (return on investment) with MOH.
Your business takes advantages from telephone on hold music because most of these callers never called back. The CNN survey showed that 35% of those who drop the line never recall. MOH guarantees that you get customer loyalty. The people who hung up do so due to boredom or frustration and intermittent voice-overs such as 'your call is important to us' and 'someone will be with you shortly' keeps them on the line.
MOH is advantageous in that it complements other advertising techniques like branding. The voice-overs will be professionally written and recorded, and involve promotion of your company, the products/services it sells, and your website and its specification in the telephone on hold music. You could also motivate your customers to take action since a call to action makes a great difference in a sale. You could mention the strengths of the company and your specialty. A music on hold player handles different sources of music, indicating you will not have unwanted clutter. A music on hold player can be handled by only one person.
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