andrewmishalove

Using call center analytics to generate revenue

Blog Post created by andrewmishalove on Feb 10, 2016

When utilized effectively, call analytics can have a big impact on a company's bottom line.

Screen Shot 2016-02-10 at 2.png

 

If you're reading this blog post, then odds are that you're at least somewhat familiar with call analytics. These solutions are gaining traction in contact centers across the country as decision-makers come to recognize the benefits the technology has to offer. In most cases, businesses are embracing call analytics in order to either enjoy cost savings or achieve and maintain compliance.

 

Those are certainly compelling arguments in favor of call analytics adoption, and it makes sense that so many organization leaders are eager to see those advantages in their own companies.

 

But there's another powerful benefit to call analytics adoption, one which should be driving more deployment efforts than it currently does: the potential to generate revenue. When utilized effectively, call analytics can have a big impact on a company's bottom line.

 

Revenue potential

Call center analytics is all about using contact center data to deliver insights that would otherwise be impossible to detect. This can lead to revenue generation in a number of key ways.

 

Probably the single biggest reason why this technology is so effective for revenue generation is because it allows for a detailed examination of agent success stories.

 

Screen Shot 2016-02-10 at 2.08.49 PM.png

Analytics identifies successful tactics with confidence.

 

Take, for example, a contact center focused on debt collections. Obviously, some of these calls are bound to be successful while others will not have the desired result. The goal for any manager or decision-maker in this environment will be to develop strategies that help agents thrive in their jobs.

 

In the past, this would require a lot of guess work. With analytics, though, contact center leaders can gain a clear, detailed view of precisely what occurred on the more successful calls - including the exact words and syntax used by the agent in question, the progression of the call and much more. With a detailed analysis of these factors, contact center leaders can identify the granular strategies and steps that prove most effective for their specific business model. There's no need to rely on unreliable observations - the hard data is absolute.

 

The same holds true for successful upsells, as well. Analytics will reveal what tactics worked most effectively, allowing agents throughout the contact center to subsequently mimic this behavior.

 

Screen Shot 2016-02-10 at 2.10.21 PM.png

Shortcut through training

That gets at one of the other reasons why analytics is such a powerful force for revenue generation in the contact center. Countless contact centers have struggled with high agent attrition rates, as that results in lost agent experience and expertise. Training new employees to reach this same level of salesmanship and/or collection abilities is time-consuming and costly.

 

Analytics identifies the best strategies, without the need for months or years of experience and training. The technology essentially works like a shortcut, enabling workers to utilize the best revenue-generating tactics immediately, rather than learning them the hard way.

 

The advantages here are so great that they should encourage more organizations to embrace analytics specifically for the revenue generation opportunities, with improved cost-efficiency and compliance seen as major additional benefits.

 

How is your company generating revenue in the contact center?

Outcomes