Companies could be losing out on online revenue by failing to respond to customer emails, a new study reveals.

According to research by E-consultancy, only 36 per cent of firms responded to customer emails within 24 hours, with 16 per cent sending a reply within one hour.

The report suggested: "Many firms are throwing away potential revenues by not replying to customers, or not giving them a timely or relevant response."

Meanwhile, less than a fifth were reported to have given an accurate response to their customers' queries, which may lead consumers to opt for rival companies.

The importance of effective email marketing was highlighted last week in a report by Epsilon.

It was revealed that more than 84 per cent of those surveyed had visited a company website as a result of receiving promotional emails.