Contact Center ROI

Q: A good ROI for contact centers?

Answer : Contact center ROI’s can differ significantly, and there is no specific value for an “ideal ROI for contact centers”. Research suggests that for every cent a company shells out as an investment in improving customer service, the ROI ranges between 34% to 400%.

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What is Contact
Center ROI?

A return on investment (ROI) indicates the level of success an organization experiences due to its contact center and is calculated by comparing investments with the earnings received due to its investments.

Survey organizations around the world have maximized their phone survey ROI with the advanced features, hosting options, seamless telephony integration, and flexible pricing of our CATI software.

How to Calculate
ROI in Contact Centers

Steps to Calculate ROI within your contact center:

Add up all investments

The first step involves adding all costs associated with agents’ time, as well as the technology and resources they use. Fixed costs such as technology, rent, training, should all be added with the contact center’s variable costs.

2. Calculate contributions to company revenue

The next step is to determine where value was created by calculating your contact center’s contribution to the company’s revenue. Contact centers focus on improving customer service and can play a vital role in maintaining a loyal customer base. Keeping in mind that it is vastly more expensive to acquire a new customer than it is to maintain existing ones, contact centers prove to be a revenue-generating and cost-saving department for businesses.

Metrics such as customer retention rate, customer lifetime value, and add-on revenue can be used to establish a value denoting how much your contact center is contributing to your company’s overall revenue.

3. Once all these values have been have been found, the following formula can be used to calculate your ROI:

Contact Center ROI Percentage = Total Revenue-Total Expenses Total Contact Center Investment x 100

After you have calculated your contact center’s ROI, it is now time to identify ways in which contact center operations can be improved to increase your ROI.

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Use Voxco to Increase your Contact Center ROI

You can increase your ROI by employing strategies to (a) improve contact center performance and/or by (b) employing strategies to reduce costs associated with your contact center. With the help of Voxco, you can do both, maximizing your ROI in the easiest way possible.

These are the few ways in which Voxco can help you increase your ROI:

(a) Improve Performance and Increase Revenue using Voxco

Greater Quality Control

With Voxco Dialer, have access to features that allow real-time field supervision, and the recording of full or partial interviews for future listening. Additionally with whisper mode, supervisors can coach agents through difficult calls or train new ones on the job, without the caller being able to hear interactions between the supervisor and agent.

2. Advanced Productivity Monitoring

Voxco Dialer’s powerful dashboards provide live statistics on agents, projects, and lines, providing you with automatically updating information on handle time, drop rate, number of calls and so much more.

3. Interactive Voice Response System

Voxco IVR can significantly improve CX in your contact center in many ways. IVR ensures that customers are always connected to agents best suited to their needs depending on factors such as agent skill, agent availability, customer concern, customer priority, and more. Connecting the right agents to callers can decrease AHT (average handle time) and increase FCR (first call resolution), improving customer service in the contact center.

(b)Reducing Costs using Voxco

Automated Dialing

With Voxco Dialer, have access to four different dialing modes that optimize dialing within your contact center. By eliminating the need for manual dialing, agents can focus wholly on calls, allowing them to handle many more calls in the same time frame. As the number of calls that can be handled by one agent increases significantly, the contact center requires less agents. This reduces costs.

2. Smart-Call Routing

Voxco’s IVR system ensures calls are connected to agents only when a human connection is made. This saves time as agents don’t have to wait on call until it is connected to a respondent, instead are directly connected to a caller. This reduces operational costs as agents can make a higher number of calls in the same time frame.

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Survey organizations around the world have maximized their phone survey ROI with the advanced features, hosting options, seamless telephony integration, and flexible pricing of our CATI software.

FAQs on Contact Center ROI

Why is it important to track ROI within contact centers?

Answer: Tracking ROI is the first step a contact center can take to improve their return on investment. Only once the ROI is calculated can a contact center identify where costs must be cut and where services can improve.

Why is ROI an important indicator of performance within contact centers?

Answer: ROI has many advantages that make it an important measure of contact center performance. These are a few:

A good Measure of Profitability
Helps in Comparative Analysis
Reflects the Performance of the Investment Division of a Firm

A good ROI for contact centers?

Answer: Contact center ROI’s can differ significantly, and there is no specific value for an “ideal ROI for contact centers”. Research suggests that for every cent a company shells out as an investment in improving customer service, the ROI ranges between 34% to 400%.

What is soft ROI?

Answer: When trying to measure the soft ROI of your contact center, you are aiming to quantify the intangible benefits received from investing in high-quality contact center services.