There’s more to cutting costs than just saving money
Slashing unnecessary expenditures can improve customer experience (CX) as well. With 80% of customers now judging companies on their CX rather than their products, there’s a real need to deliver a great experience. If there’s an opportunity to cut reasonable costs, then businesses need to seize that chance.
Whether it’s switching from an 0800 number to an 0300 number via an inbound call management platform, or more intelligent call routing, there’s always a way for businesses to manage their operational costs. Greater control of inbound calling delivers the double benefit of lower costs and improved CX.
First-contact resolution: The ultimate KPI
When customers get in touch with an organisation, they’ve only got one thing on their mind – they want answers, and they want them now. 54% of customers see that first-time resolution as the most important factor when looking for support. A short wait time and friendly, empathetic agents are certainly admirable traits to have in a contact centre, but speedy resolutions trump the lot.
It’s a top KPI for contact centres, and when businesses focus more on resolving customer inquiries on the first call, they can achieve so much more. Having an additional call to solve an issue can lower customer satisfaction by an average of 16%. Cutting out the need for all those follow ups makes everything so much easier for both agents and customers.
That efficiency translates to lower operational costs too. There’s no need for unnecessary expenditures around handling calls and allocating resources. When businesses improve their first call resolution by 1%, then operational costs are reduced by 1%.
How fitting.
At the end of the day, cutting down the need for so many calls is beneficial for customers. They’re more confident in an organisation’s ability to process issues and find timely answers. What makes that process even more efficient is through a smoother call routing journey.
Intelligent call routing: Optimising each interaction
Nobody wants to be left waiting. Turns out that, after being left on hold for 60 seconds, approximately 60% of customers think that’s far too long. When handling a high number of inbound calls, businesses need to fully utilise a system that can direct calls to the right department without delay.
After all, how can contact centres hit that first-contact resolution KPI if those calls are stuck in limbo?
Intelligent call routing helps those incoming calls reach the most appropriate agent or department. The journey can be based on factors like customer needs, agent expertise, or call priority. Those same systems can also include interactive voice response (IVR) that presents callers with an options menu that can be navigated verbally.
We’ll drive home that point on customers wanting fast answers by noting how 83% of consumers expect immediate engagement when contacting a company. Efficient call routing is a great way to maximise customer satisfaction as there’s no need for any unnecessary call transfers. Again, there’s no delay on getting their answers.
AI-driven call routing can also reduce those wait times by 25%. Not only does that add to the customer satisfaction boost, but it can also improve productivity and resource optimisation. Those call routing systems can integrate with customer relationship management (CRM) software and give agents more context on caller needs.
Support becomes more personalised, and any critical inquiries can be escalated appropriately. 71% of consumers now expect a more personalised experience, which can help to build long-term loyalty that translates to a greater customer lifetime value. That greater customer retention reduces the cost and effort needed to acquire new customers and focus efforts on building that brand reputation.
But it’s worth remembering the ones handling those inbound calls. Businesses should always be looking to empower their agents.
Agent empowerment: The key to efficiency
Contact centre leaders have identified their top 3 factors that they believe improves agent performance:
- Improved knowledge management applications
- Empowerment to make decisions that help customers
- Unified omnichannel agent desktop
It’s clear just how vital agent empowerment and access to the right tools and training is for a modern contact centre. 70% of agents want that autonomy to deal with issues and improve that coveted rate of first-contact resolution. 60% of those same agents see technology as the biggest boundary to handling customer requests more effectively.
Market-leading CX solutions are designed to provide real-time analytics that provide insights into customer behaviours and common pain points. Integrating those CRM systems also gives agents access to customer interactions and preferences, which allows those personalised interactions mentioned before.
When contact centre leaders also provide ongoing training programmes that improve problem-solving skills, agents are far more empowered than before. In UK contact centres, the annual cost of agent turnover is approximately £200,000. If there’s any way to retain those agents and cut down on those costs, then businesses need to do them!
Speaking of other ways to cut down costs on inbound calls…
Numbers: Know your NGNs
While NGNs still play a role in cost control, they should be seen as one part of a broader strategy. Businesses must weigh the cost implications of maintaining 0800 numbers versus transitioning to 0300 or 0333 numbers, ensuring they align with their overall cost-reduction goals.
As NGNs, 0800 and 0300 numbers aren’t restricted to a single geographic location. That flexibility can give businesses the ability to portray themselves as a nationwide entity and avoid having to pay for numbers across multiple regions. In recent years, the shift towards Internet-based calls is giving Ofcom ideas about scrapping area codes all together.
While 0800 and 0300 numbers share that kinship of not being tied down, there are plenty of differences between the two. 0800 numbers, known as freephone numbers, allow customers to call without incurring charges: instead, it’s down to the business to pay for those calling costs. In times of high call volumes, businesses find that these numbers are costly to maintain.
But what are the benefits of switching to an 0300 number? That’s a whole topic, so allow us to streamline it:
- Lower infrastructure costs, particularly if using a smarter call management system that incorporates innovative call routing features such as interactive voice response (IVR)
- Scalability without additional expenses, such as purchasing additional contact centre functionalities or hiring more staff to deal with peak call volumes
- Eliminate toll-free abuse, as 0800 numbers are more susceptible to spam calls, whereas 0300 numbers are paid for by callers and will deter them from making unnecessary calls
- Regulation compliance, since their inclusion in standard customer bills means they align with fair pricing regulations and don’t incur unexpected costs for either party
- Effective budget reallocation, as businesses can save money from those inbound calls and reinvest in other ventures, such as digital transformation or improvements in customer experience
All businesses need to do is take advantage of an inbound call management platform that allows them to seamlessly switch their NGNs. Simple.
Benefits beyond cost savings
Businesses must take a holistic approach to controlling inbound call costs, leveraging technology and strategic planning. By prioritising first-contact resolution, optimising call routing and empowering agents, organisations can significantly cut costs while improving CX.
Gamma’s own expertise in contact centre solutions is a vital source for any customer-centric business. An advanced inbound call management solution needs to be designed to take back control of call management. It must make inbound calling seamless, not a struggle.
Cut costs. Revolutionise routing. Enrich experiences. That’s what Gamma is here to do.