Four Ways to Increase Your Call Center ROI with Predictive Dialers
Similar to the way that Henry Ford automated the assembly process for automobile manufacturing, predictive dialers have automated many of the workflows used in call centers, effectively increasing those centers’ profitability.
Predictive dialing technology also works to improve the overall experience and satisfaction levels of everyone from call center employees and their managers to the customers who are on the other end of the line.
Predictive dialers ramp up the total volume of calls that can be completed in a day and reduce the amount of idle time between calls by increasing the speed of dialing and connecting. Here are four ways that predictive dialers can help increase a call center’s revenue.
1. Increase Right Party Contacts (RPCs) Per Hour
In comparison to manual dialing and automatic call distributors (ACD), a predictive dialer is more effective at increasing the volume of calls that can be completed in a day. A predictive dialer does this in two ways.
First, it dials numbers faster than a person ever could and faster than what is capable of old technology. Additionally, a predictive dialer dials numbers simultaneously, only connecting agents when lines are answered.
Increased call volumes pave the way for increased productivity, which enables a call center to employ fewer full-time agents while achieving similar or improved call volumes. In one case, TCN’s predictive dialer increased a client’s call volume by 188%.
2. Reduce Idle Time
Predictive dialers also reduce the dead time between calls. By using an algorithm, a predictive dialer estimates how long an average conversation takes an agent, depending on the industry and business. Then the dialer sends an agent a new call at the approximate time they finish a conversation.
Dialing and connecting a line to someone who is ready to speak takes an average of 10 seconds. In contrast to dialing one number at a time, only when an agent is available, a predictive dialer will begin dialing a new number 10 seconds before connecting the line to an available agent. As a result, agents don’t waste time waiting for a live person to answer.
Predictive dialers reduce agent idle time on average from 33% idle time, down to only 5% idle time. Multiplied by hundreds of agents over the course of a year, this reduction in idle time allows a company to employ fewer full-time agents because the existing agents are working more efficiently. Companies that use predictive dialers, therefore, save money on wage expenses.
3. Increase the Number of Live Conversations
Predictive dialers increase the rate of live conversations. Instead of connecting agents after dialing a line, a predictive dialer connects agents after the line has been answered. TCN’s predictive dialer increased agent live conversations for a client by 136% per Full Time Equivalent (FTE) hour (see Are You Getting the Maximum ROI for Your Dialer).
When live conversations increase, the tedium of working in a call center is replaced with unique human interaction. Agents who speak to people report an increase in their overall job satisfaction. It’s no secret that call centers have one of the highest turnover rates of any industry.
However, when predictive dialers diminish wait times and increase human interaction, agent churn, or call center turnover rate, diminishes. A reduced employee churn rate saves call centers the costs associated with onboarding and training new employees.
4. Reduce Compliance Risk
In addition to reducing the idle time between agents, predictive dialers diminish the wait time for inbound callers. Reduced wait time leads to a lower customer abandonment rate. TCN’s predictive dialer reduced one client’s customer abandonment rate by 75%. When an abandonment rate drops, the lawsuits filed against a company also decrease.
Happy customers are less prone to deem miscommunications as unresolvable conflicts and they are more willing to compromise. The efficiency of a predictive dialer reduces a company’s compliance risk exposure by creating higher customer satisfaction.
Technology That Yields Reliable Results
From the beginning of time, better technology has led to faster work. Predictive dialers speed the pace of business for call center managers and increase the overall satisfaction of agents and customers alike by adding making communication easier.