|[February 06, 2013]
Marchex Study: Hold Times Hurt Cable & Satellite Industry; Millions at Stake When Customers Hang Up
SEATTLE --(Business Wire)--
The Cable & Satellite industry stands to lose out on more than $100
million in potential subscriptions this year because of frustrating hold
times, according to data released today by Marchex, Inc.(NASDAQ: MCHX).
Marchex, a mobile advertising company focused on calls, examined the
true costs of keeping Cable & Satellite customers waiting on the phone -
a question of growing importance as more and more customers call from
their smartphones. The data was aggregated from a sample of 455,600
phone calls in 2012 based on more than 10 Cable & Satellite advertisers.
The report found that of the industry's more than 36 million sales calls
from prospective customers, 4.3 million are abandoned due to hold times.
That's 12 percent - roughly three times the abandonment rate of other
industries, such as auto, travel and education.
"It's a huge loss to the industry," said Chen Zhao, principal analyst on
the study. "Cable & Satellite companies have a lot on the line when
customers call. Our data show there is a big chance - and 12 percent is
big - of losing potential new subscribers to competitors."
The findings point to the massive growth of mobile phones as the silver
lining. According to the data, 78 percent of Cable & Satellte phone
calls come through mobile connections. The report outlined steps on how
to turn these phone calls into sales.
"There is a great opportunity to capitalize on this growing market,"
To download the entire study, please go to http://www.marchex.com/mobile_cable_performance.
Marchex, Inc. delivers customer calls to businesses and analyzes those
calls so companies can get the most out of their mobile advertising.
Marchex supports its customers through a unique technology platform that
has three primary components: (1) Call
Analytics, which powers all of our advertising solutions, and allows
partners to leverage data and insights that accurately measure the
performance of mobile, online and offline call advertising; (2) Digital
Call Marketplace, which annually connects millions of consumer calls
to our advertisers from a range of mobile and online sources on a Pay
For Call basis; and (3) Local
Leads, a white-labeled, full-service digital advertising solution
for small business resellers that drives quality phone calls and other
leads to their small business advertisers.
Marchex is based in Seattle. To learn more, please visit www.marchex.com.
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