Could revenue share numbers help firms expand profits?

Date: 05/01/2012

Businesses may be looking for ways to increase their profit margins following the release of new data that suggests a winter recession could become a reality.

As many organisations notice a rise in customer activity in the run-up to Christmas, frugal firms may already be planning for how to ensure they stay afloat in the new year.

Revenue share numbers may be one way in which companies can boost their income, as they will receive up to 1.5p per minute for every call they receive.

In addition, such numbers could help to increase an organisation's profile, as they provide a national and professional image, as well as offering a memorable dialling code for customers.

These features may appeal to small businesses as experts claimed that although the latest figures from the Office for National Statistics revealed the UK economy grew faster than expected in the third quarter, this is not enough to avert a recession.

Growth between July and September was revised up to 0.6 per cent from the previous estimate of 0.5 per cent, which was noted as being due in part to a pickup in the services and construction sector output.

Andrew Goodwin, senior economic adviser to the Ernst & Young Item Club, said in an interview with the Guardian: "Though the third-quarter figures look a little better, prospects for the fourth quarter remain pretty gloomy."

He added that the current situation suggests "as things stand there is a good chance that the economy will contract".

The financial specialist claimed business survey data has "deteriorated" and warned unless a "more credible and permanent solution appears soon", the UK will most likely find itself once again in a recession at the start of the new year.

Howard Archer of HIS Global Insight commented: "The economy is clearly now finding it very difficult to grow at all in the face of serious domestic and global, mainly eurozone, headwinds."

According to the expert, other threats include reduced consumer purchasing, "waning" business investments and fiscal contraction, along with "tightening credit conditions" which are said to "lurk in the background".

Chief economist at Markit Chris Williamson told the Guardian that although household spending remained unchanged from its initial prediction for the first time in 12 months, it is "hardly a sign of consumer exuberance".

It was suggested by Mr Williamson that remarks about a slowdown over the winter period are highly likely to be accurate, claiming the fourth quarter "probably stagnated".

He added: "[This] is in line with the Bank of England's current estimates and there is a growing likelihood of a slide back into recession in the new year."

With experts predicting a possible downturn in the economy it may be more important than ever for companies to utilise their available revenue boosting elements.

By switching to 0844 numbers, firms could not only see their profits increase, but also use free tools from Commsready to monitor and revaluate their call handling.

Through an online Call Statistics system, it is possible to see when is the most popular time for customer contact is and how many calls are answered or missed.