The significance and relevance of toll free numbers in 2020 can be determined from the consistent growth of the global toll-free services market. A number of market research studies suggest a steady hike in the number of registered toll free numbers. Likewise, several studies also suggest that the demand in the world toll-free services market could be on a rising trend for the next few years.
According to a report released by Transparency Market Research, “The global toll-free services market is predicted to gain impetus on the back of sliding prices, constant growth of the call center industry, and businesses largely concentrating on achieving customer satisfaction. Across the customer journey, value is being delivered to today’s businesses with the advancement of the market.”
Unlike conventional business phone numbers, in case of toll free numbers calling charges are borne by the subscriber. The existing and prospective customers can call a business’s toll free number free of cost. Hence, the business has to incur additional operational cost by being charged for the incoming calls.
But the toll free numbers help businesses to remain profitable in the long run by generating more revenue and delivering superior customer services. Every business has the option to choose from two distinct types of toll free numbers – regular toll free numbers and vanity toll free numbers. Unlike regular toll free numbers, vanity toll free numbers allow subscribers to embed specific numeric patterns and phonewords.
1. Increased Leads
According to a study sponsored by Google, 8% of consumers always call a business and 31% of consumers call a business frequently while looking to make a purchase or transaction. The toll free numbers enable customers and leads to call a business frequently without paying call charges. Hence, a toll free number receives 30% more incoming calls than conventional business phone number. The increase in incoming call volume helps businesses to increase revenue by receiving more orders and inquiries.
2. Self-help Options
The sophisticated toll free number solutions help businesses to enable callers to resolve product/service issue on their own by implementing interactive voice response (IVR) systems. The self-service options provided by the IVR solution allow callers to resolve simple product/service issues on their own. At the same time, it enables callers to resolve complex customer service issues by directly talking to an employee or agent.
3. Superior Customer Service
Many customers switch brands, end business relationships, and abandon transactions due to poor customer service experience. No business can remain profitable and beat competition in the longer run without delivering superior customer service consistently. This is exactly where IVR comes into play. Toll free numbers integrated with a IVR system help businesses boost customer experience by delivering customer service quickly and automatically.
4. Efficient Call Management
In addition to facilitating IVR system implementation, the sophisticated toll free numbers come with a unified call management solution. The call management solutions help businesses to manage incoming calls more efficiently by providing a variety of features –call routing, call forwarding and call recording. A business can use the call management solution to increase first call resolution by transferring every incoming call to the best-suited employee/department/extension. The toll free number solution further records every incoming call automatically.
5. Enhanced National Presence
The customers across the nation can call a business’s toll free number without paying any call charges. Many businesses enhance their national presence by using the toll free numbers as a single point of contact. Also, they use toll free numbers as a tool to enhance credibility, maintain a professional image, and win customer trust. The toll free numbers further help small businesses and startups to appear bigger and create a credible image.
6. Multipurpose Tool
The aforementioned market research study suggests that customers call a business directly to accomplish a variety of tasks. For instance, many customers call business to check for business hours, make a reservation, check for deals/promotions, compare pricing, inquire about inventory, and schedule an appointment. The toll free number enables customers to call a business during various phases in buyer decision making at zero cost. Hence, a business can use the toll free number as a robust tool to assist customers throughout their buyer’s journey.
7. High Portability
The ongoing economic slowdown compels many entrepreneurs to relocate business operation to reduce operational cost, find revenue opportunities, and avail tax benefits. But businesses need to explore ways to expand or relocate their business without impacting customer experience negatively. A business can use the same toll free number to deliver customer service regardless of its location. Hence, the freephone numbers make it easier for businesses to relocate their operations quickly and smoothly. The new age businesses can leverage toll free numbers to set up virtual or distributed work environments.
On the whole, businesses from various regions and industries will keep investing in toll free numbers to increase revenue and improve customer experience. But the businesses must remember that the features of the toll free solutions vary across providers. Hence, it is always important for businesses to compare and evaluate the toll free number solutions according their precise needs using the relevant parameters. Toll free numbers have proven to be a boon for businesses so far and they are sure to bring in same results in the future as well.