How Call Recording Increases Leverage

How Call Recording Increases Leverage

Last Updated on November 30, 2020

Most businesses are missing out on a big chunk of revenue/multiple potential revenue sources, hidden in plain sight.

This is due to a lack of leverage.

There are many “leverage” points every business has and very few are actually fully utilizing all of them.

There are three ways a business can generate more revenue:

  • Acquire more customers
  • Increase the price of the product/add multiple products
  • Increase the frequency customers buy in

Each “leverage point” gives you the opportunity to increase revenue through one of these paths.

For example, something we offer here at Versadial is call recording.

It’s a fantastic tool to increase leverage and can help you with all three revenue generating methods.

How Call Recording Helps You Acquire More Customers

A sales staff is a great way to bring in new paying customers for your business.

However, in order to maximize your leverage in this area, you need to ensure your sales staff is performing at the highest level possible

This will allow you to bring in as many customers as possible and keep cost per acquisition low.

Through call recording, you can find out if any of your sales staff is underperforming and immediately identify problem areas.

You can then train that individual, or group, further, to eliminate the problem, and increase performance.

By doing this, you’ll immediately see an increase in revenue, as a result of this increased leverage.

Increasing the Price Per Sale

Many businesses have a wide range of products and services they offer. Most customers can benefit from buying more than one.

Not only is it your sales staff’s job to bring in new customers, they should also be pitching your additional products and services to these customers.

Even if your sales staff is performing well on bringing in new customers, they may be dropping the ball when it comes to offering additional up-sells and cross-sells.

Through call monitoring, you can easily determine this and correct the course to increase revenue.

Increasing the Frequency Customers Buy In

If your product and service can be resold to a customer after they’ve used it once, and still provide them with value, it’s definitely worth letting the customer know about it.

Again, call recording comes into play.

Generally, these types of calls will be different from classic sales calls, as the customer has already purchased from you once.

By using call recording, you can tweak the script your sales team uses, and create a fully optimized version.

Closing Thoughts

As you can see, by using call recording technology, you can dramatically increase the revenue of your business relatively quickly.

It’s all about making sure you’re getting the most leverage possible, by identifying any possible sticking points and problems, and correcting them.

Through correcting these issues, you’ll see a leap in sales, adding more revenue to the bottom line.

Additionally, you’ll have a completely optimized sales team, capable of helping you scale even faster as your growth accelerates.

Last Updated on November 30, 2020