The following article is a repost from coverage in TR Technology Reseller as an op-ed article.
Embracing New Market Dynamics to Transform ROI in Call Centers
By Daniel Foppen
High call volumes and broad-reaching strategies used to drive return on investment (ROI) for call centers focused on customer acquisition. But times have changed, thanks to new regulations, technological advancements, and consumer behaviors. As call centers navigate this landscape, they must adapt their approaches to stay competitive and generate sustained value. Focusing entirely on quantity—more calls, opportunities, and conversions—won’t cut it anymore.
Market dynamics and new laws have changed daily life at call centers. The volume of available leads has been reduced, making yesterday’s volume-based model less viable. Rising costs per lead and new consumer behaviors are other pressures making call centers focus on quality over quantity – something that requires a whole new approach.
Driving Quality
Call centers need a new playbook. It involves prioritizing higher-quality leads, improving lead management processes, and optimizing every customer interaction. Investing in technology–particularly AI and automation—is also becoming necessary.
If there is a new formula for success in the call center business, it looks like this: “Lead behavior” x “type of leads” x “quality of leads” x “cost of leads” x “the human element” x “technology” = Value.
For example, with fewer, higher-quality leads, ensuring each interaction is as effective as possible is critical. AI and automation can help streamline processes, but the human element remains vital in converting leads and driving satisfaction.
Because all the factors that go into the above model are shifting rapidly, the results will be continuously different. Therefore, driving value for call centers will require a revised and flexible model.
Customer Experience and ROI
More than ever, customer experience determines the success of a call center. Positive experiences mean higher conversion rates, better retention, and even word-of-mouth referrals. Poor customer experiences will have the opposite effect.
AI and automation are increasingly essential tools for creating positive customer experiences. AI can handle initial interactions, qualify leads, and assist agents in real time with suggestions for better outcomes. This allows agents to focus on higher-value interactions. Data analytics and omnichannel engagement platforms enable call centers to understand better and meet consumer preferences.
80% of call centers use AI-based technologies to improve customer interactions. This includes the 65% of call centers that have rolled out chatbots for basic customer service functions. In an environment where there are never enough people to handle calls, tools like Intelligent Virtual Agents (IVA) offer solutions to compensate for this shortfall and augment the daily tasks of agents.
Call centers that employ these tools will see better ROI.
Call Centers of the Future
Driving ROI in the future will likely require a fully integrated approach, where technology, data, and human expertise work side-by-side. The focus will continue to shift towards quality over quantity, with AI and automation playing a more significant role in driving efficiency and effectiveness.
Lead costs may continue to rise, but they will be better leads thanks to new technologies. To prepare, call centers need to focus on efficiency.
Traditional ROI models are quickly becoming obsolete. That’s why call centers must focus on quality over quantity, prioritize consumer experience, and use every new tool they can.
Companies should be agile and ready to shift their operating strategies for outbound campaigns. For example, they could begin generating their first-party leads rather than relying on buying third-party shared leads.
Going forward, call center success will be based on adaptability, integration of cutting-edge technologies, and a relentless focus on delivering high-quality consumer interactions. Those who successfully navigate the sea of changes will be well-positioned to drive sustained value and maintain a competitive edge in the evolving market.
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