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Businesses lose out on an average of £18,000 a year from failing to respond to customer emails within two hours, according to new research from Vodafone UK.
Research reveals that supplier companies have just two hours to get in touch with potential customers before one in three firms would take their business elsewhere. Despite this, Vodafone found, businesses still seem resistant to mobile working.
The average cost to a business of failing to respond to email enquiries rises from £18,000 to over £100,000 a year for one in 30 firms. The total cost of this to the UK economy is £31bn a year.
Yet despite the potential losses, the majority of company directors admit they have no policy in place for following up with potential customers. The survey also revealed that fewer than one in five has a set response time and less than a quarter of workers say they would respond to an email from a potential customer.
Kyle Whitehill, enterprise business unit director at Vodafone UK, said: "Business culture and expectations are dramatically changing with the development of new technologies.
"As the world becomes more demanding it is vital for business to be able to take advantage of opportunities."
Research by Dimension Data has recently found that the regular use of email has overtaken voice calls as the primary method of communication in the workplace.
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