Abandon rates are considered to be between 5% and 8%. However, depending on the time of day and industry, rates can exceed 20%.
Example
Your Abandon Rate is 2.5 percent if your inbound call centre receives 1,000 calls a day and 25 are abandoned.
The abandon rate is influenced by a number of other KPIs, and changing response to these KPIs will lower the abandon rate. A 10% abandon rate is considered strong, and traditional wisdom suggests that a 5 to 8% abandon rate is the industry standard. However, recent studies have shown that call abandonment rates on mobile phones may be as high as 20%.
Let’s take a look at the KPI that contributes to a high abandonment rate.
Average response time
When the customer has completed the IVR Survey and is in line to be linked with an agent, the average speed to respond comes to an end. The minimum average time for a customer to communicate should be 30 seconds, depending on the sector and the severity of the problem, but some support companies admit to taking twice as long.
Service level
The service level KPI is fed by the average speed to answer KPI. This is a KPI that tracks how many calls are answered in a given amount of time. For example, how many calls are answered in less than 30 seconds on average?
Accuracy in forecasting
The estimation of a certain number of inbound calls in a given timeframe is known as call forecasting. Forecast variance is a metric for how far a forecast deviates from reality. Developing a baseline from which to forecast and fine-tuning the accuracy takes time.
Observance of the schedule
When a seat is vacant, no agent is available to take a call. When it comes to hiring to satisfy demand, agents must stick to their work schedules.
Occupancy rate
The occupancy rate is a measure of how many agents are on duty at any given time, as well as call completion rate and after-call activity.
After-call workÂ
Depending on how well an agent’s software integrates with their CRM and productivity applications, after-call work can consume a significant amount of an agent’s time. Reducing after-call work with an intuitive interface allows agents to get back on the phone faster without losing the quality of the information in their customer files.
Call duration
The length of the call is determined by the severity of the inbound problem with the customer. By creating a call center-specific baseline, you can reduce call duration without sacrificing first-call resolution or customer satisfaction. This means more agents are available to handle calls, but more importantly, it means the customer’s issue was resolved quickly.
Customer satisfaction
It’s easy to measure customer satisfaction. To set a low bar, a happy customer is one who does not complain. It needs advanced call center software that looks at a customer’s past, call frequency, and other problems that are observable with high-quality call center software to set the bar very high.
First call resolution
Handling problems on the first call increases customer loyalty and customer satisfaction. Whether it’s a business deal or a problem that needs to be resolved. Different sectors should have different first-call resolution baselines. After all, directing a complicated financial transaction or troubleshooting a technological challenge is simpler than making a purchase or scheduling an appointment.
At the same time, call centers are people- and data-driven. Managers and supervisors are left throwing plans at the wall to see what sticks without using tools that can calculate these KPIs. Through establishing baselines for these KPIs, call center management may determine which areas need improvement in order to achieve an optimal call center abandon rate, improve customer loyalty, and even minimize agent absenteeism and disengagement, which leads to experienced agent attrition.