23
Apr

Revenue Conversions - Cost to profit centres

Turn your contact centre into a profit generator

The traditional model of contact centres hasn’t caught up with today’s market.

 More than 60% of organisations short change themselves by positioning their contact centres as cost centers rather than revenue generators.* But with a renewed focus and strategy, organizations can reap the full benefits of their contact centres and increase revenue conversions. Here’s how.

Revisit the traditional model

Your contact centre may be narrowly defined to serve only a few functions: provide basic customer service, make operations more efficient, and reduce operational costs. This has been the typical model because these functions are necessary, and contact centres do well to fulfill them.

Since this model was developed, there have been leaps and bounds in technology, the marketplace, and consumer habits and expectations. And the traditional model hasn’t caught up.

Update your contact centre strategy

The potentials for your contact centre to support your big-picture strategy has grown and expanded in the last decades. Specifically, your contact centre can be a central player for 1) revenue conversions in the short term and 2) customer brand loyalty in the long game.

Contact centres become profit centres when they are equipped to do more than satisfy basic customer needs and fulfill first-call resolutions (FCRs). A contact centre agent, with the right digital support, can cultivate meaningful customer interactions as a virtual in-person salesperson, to convert a commonplace issue into a cross-sell or upsell. Agents can exceed customer expectations and turn them into loyal advocates of your brand.

There are several moving parts to making this happen. In this post, we’ll deal with the foundational understanding.

 

Increase revenue by getting personal

Generating profits at a contact centre begins with getting your priorities straight. There should be one central value driving all of your processes: personalisation.

Have you ever heard a customer say they enjoyed their sales interaction via a contact centre because it was genericuninformed, or entirely unrelated to their needs? Of course not. Why? Because customers want the opposite: personalised, informative sales interactions focused on their unique desires. And when customers get personalised attention, they spend more money on your products and services.

If you want to increase your revenue conversions, you have to get personal. That’s why contact centres globally are improving customer service by focusing on three key performance indicators (KPIs)** all aimed at personalising their interactions.

  1. Accuracy and quality of information

Give customers accurate information specific to their needs and they’ll be more loyal to your company and more willing to make purchases. With personalised information, not only are your customers happier, but your agents can offer customers unexpected insights into their needs, leading to relevant cross-sells or upsells.

  1. Ease of interaction

Make it easy, solve it quickly. No one wants to fight with call centre agents or spend lots of time explaining. If the agent is well-versed in customer needs, or supported by a digital platform, they are able to facilitate quick, easy interactions, with a jump in customer loyalty.

  1. Access to the contact center

Customers want to talk to human agents who are knowledgeable and competent, and can—unlike automation—solve complex problems. And while the agent is helping sort through the issue, they can alert the customer to new products and services.

All of these KPIs share a common theme: personalisation. The more personalised agents can make customer sales journeys, the greater likelihood of increasing customers satisfaction and revenue.

In our next post, we’ll explore the next step in turning your contact centre into a profit center. Read, Invest in the right solution to increase revenue conversions.

*“Collapse of the Cost Center: Driving Contact Center Profitability”, International Customer Management Institute, 2015.

**“Deloitte Global Contact Center Survey 2017”, Deloitte Development LLC, 2017.

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About Us

honeybee was created by people who've lived and breathed the challenges of complex retail businesses and contact centres, where creating exciting and engaging customer experiences was always threatened with speed to market pressures, legacy systems that were hard to intergrate and small project budgets.

We realised there had to be a better way, so we brought together the right people - from operational execution and employee engagement through to journey design and technical experts to make our vision a reality. We wanted to make it easier for companies to design and launch exceptional customer journeys.