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Go4customer Blog

Hidden ROI In A Cloud Based Contact Center

Posted by Rohit Paul

Contact center executives primarily aim to improve customer service whilst minimizing expense to do it. However the question remains how to implement it? The initial idea is to squeeze more functionality from the existing technology. This is not the best idea in my opinion as changing business and fastidious customers will bluntly reject these offerings and put you behind the business race with continuing the outdated method. Most executives are switching to Communication as a Service (CaaS) and the pay-as-you-go approach it brings along to upgrade the flexibility and functionality of the contact centers.

Cloud-based contact centers are more focused on revamping business processes which put their performance a class apart from the traditional contact centers.

They have the ability to easily accommodate sporadic changes in the customer demand and handle fluctuation in customer traffic by multiplying or downsizing computing resource accordingly. This flexible infrastructure not only helps them escalate overall responsiveness to customer needs but also improves ROI.

34 per cent of the business use cloud-based call center and 28 percent are in the implementation phase of the same. Companies have rightly realized that customer satisfaction is the real source of ROI.

  • Cloud-based contact centers have 27 percent lower annual costs associated with customer turnover as compared to peers.

Data (in $ thousands)

Traditional Call Center

Cloud-based Call Center

Annual cost of customer turnover

$ 155,000

$ 112,500

Source: Aberdeen Group

  • It is important for contact centers to convert more and more customer contacts into sales and reduce the abandonment rate. The abandonment rate for a traditional contact center is 6.2 per cent and in a cloud-based one is 4.5 per cent. Quantifying this, each lost customer costs the business $10,000 as per a study conducted by Aberdeen Group.

Hence cloud-based contact centers gain a lot by minimizing this opportunity cost which reflects in a strengthened ROI.

  • Cloud-based call centers enjoy 36 per cent less time in activity interruption. This reduction in contact center downtime certainly has a positive quantifiable outcome.
  • Scalability helps call centers cater to different traffic volumes. This greater availability allows them to address a larger portion of customer contacts. This reduction in cost of customer churn is a hidden ROI extracted out of scalability benefit.
  • Best-in-class contact centers have greater ability to generate customized reports on the activity results compared to outdated ones. It provides granular insights on specific activities that help remove inefficiencies. Cloud-based customer contact centers  are 80 percent more likely to implement this process as compared to their peers.

In a nutshell, it is the close relation between customer responsiveness and cost reduction for unaddressed clients that becomes the hidden ROI for cloud-based contact centers.

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