Harnessing Insights: Unveiling Statistics and Research on the Caller Experience

Telephony, the technology of transmitting voice calls over a distance, has been continuously evolving with advancements in communication technologies. As the telephone evolves, its importance in business communication grows, and it remains the most crucial tool of communication for businesses and consumers alike. According to the Price Waterhouse Cooper’s Strategy & Survey, a staggering 80% of businesses consider voice calls an essential communication channel, while voice calls remain the primary communication channel for consumers.

With the importance of business communication well and truly in telephony, businesses need to adapt to changing technology and make investments to ensure they deliver a world-class caller experience and remain ahead of the competition.

Let’s take a look at the research into the telephony industry, and the latest trends and innovations, along with their potential ROI.

Frustrations in the telephony market – what does research show us?

The importance of getting through to the right person first time is so important to callers. In fact, according to a Peekator 2023 customer service survey, 70% of Australian consumers that have experienced a poor call experience would not purchase from the brand again. Also, after a poor caller experience, 64% of Australian consumers would see the brand as untrustworthy. Those are significantly high percentages for business owners to contend with.

So what’s classed as a poor caller experience?

Peekator’s survey told us Australian consumers ‘that didn’t get through to the right person first time were left feeling frustrated, annoyed and undervalued. And a 94% of Australian consumers feel frustrated, annoyed and tired when listening to silence on hold to a company. That’s a significantly high percentage.

And this experience is worldwide. Similarly with the Australian consumer, 63% of UK consumers would not purchase from a brand after a poor caller experience.

The Peekator survey showed that 46% of Australians put on hold hear something other than music and messaging. This is a significant missed opportunity for keeping customers engaged and upselling key business products.

What are the telephony options for businesses?

It’s clear that the caller experience needs addressing. But according to the 2024 Peekator survey, 31% of B2B decision makers haven’t heard from their telephony provider in the past 12 months or longer, highlighting a significant gap in communication between providers and their clients. So, whilst the telephony market is evolving, it’s important that businesses choose a reputable company that acts as a partnership rather than just a transactional service.

Voice over Internet Protocol

Voice over Internet Protocol (VoIP) solutions are a popular choice for small business owners, due to their cost-effectiveness, scalability and feature-rich offerings. Whilst it comes with its benefits, VoIP has its drawbacks. One notable challenge is the initial investment in hardware and setup costs, which can be relatively high compared to traditional phone systems. Additionally, as businesses expand or add new features to their VoIP system, they may encounter complexities in managing and configuring the system to suit their evolving needs. These complexities can sometimes lead to additional expenses and require technical expertise to navigate effectively.

Cloud Telephony:

Cloud-based telephony solutions are gaining popularity as they offer huge flexibility, scalability and reduced maintenance costs.

Cloud telephony benefits are clear to see. The solutions are highly scalable, allowing organisations to easily adjust their capacity based on fluctuating call volumes or business growth. With cloud telephony, scaling up or down can be done quickly and seamlessly, often with just a few clicks in a web-based interface. Unlike VoIP, Cloud telephony eliminates the need for organisations to invest in and maintain on-premises hardware and software infrastructure.

Cloud telephony enables employees to make and receive calls from anywhere with an internet connection, using various devices such as computers, smartphones or IP phones. This flexibility supports remote work, telecommuting and mobile workforce initiatives to help improve customer satisfaction in telephony. VoIP systems can offer similar features but may require additional complex configuration or software installation to enable remote access.

AI-powered Telephony:

Artificial intelligence (AI) is increasingly adapting telephony systems by automating tasks, analysing call data for insights and providing personalised customer experiences.

Amidst the technological advancements grabbing everyone’s focus, it’s crucial to remember the unique advantage humans possess: the ability to give genuine attention in service interactions, whether one-to-one or one-to-many. Unlike AI and robots, humans excel in offering authentic connections and attention, a skill essential for sound judgment and meaningful social interactions. While a robot may adjust its perspective, it can’t replicate the depth of attention and interpersonal connections that humans inherently provide. With this loss in human-to-human activity, businesses risk losing potential opportunities with every call.

Prioritising Customer Satisfaction:

The statistics shown underscore the critical role of telephony in business communication and the pertinence of delivering exceptional caller experiences. The importance of investing in a fully scalable solution is imperative to business productivity, and moreover, the reputation of your chosen telephony provider is equally important. Without adequate support, business owners miss out on the numerous benefits of the cloud or telephony system and subsequently are unable to pass these benefits onto their customers.

As businesses continue to invest in telephony solutions — be it traditional analogue, cloud-based or AI-powered — they must prioritise customer satisfaction and strive to meet evolving consumer expectations. By embracing the latest trends and innovations in telephony, businesses can enhance their communication capabilities, improve customer relationships and drive long-term success.

Keen to improve your caller experience and increase your ROI?