Music on hold, commonly abbreviated as MOH, is a business tool in which 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 such as 'please stay on the line'), custom-designed MOH (with or without periodic voice-overs), radio, off-the-shelf commercial CDs, and even online on hold. Your business will benefit considerably 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' led to call abandonment rates of about 75%. 80% of these callers hang-up within one minute. The same research showed that callers with music for hold remained on the line for as much as 5 minutes longer. You should therefore, strive to keep customers/clients on the line for as long as you can and this is doable with a music on hold player.
The same AT&T research revealed that 30% of callers bought extra products/services based on what they heard while on hold and 25% of callers made purchases based on sales suggestions while on hold. A recent CNN study revealed that 90% of callers liked on hold messages over silence. You should therefore, utilize this opportunity to turn the music on hold into an advertising technique. You will get greater ROI (return on investment) with MOH.
Your business benefits from telephone on hold music as most of these callers never called back. The CNN study revealed that 35% of those who drop the line never recall. MOH guarantees that you get customer loyalty. The people who hung up do so because of boredom or frustration and periodic voice-overs like 'your call is important to us' or 'someone will be with you shortly' holds 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 incorporate promotion of your company, the products/services it sells, and your website and its features in the telephone on hold music. You could also stimulate your clients to take action because 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, meaning you will not have unwanted clutter. A music on hold player can be handled by just one person.
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