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4 Ways to Reduce CX Outsourcing Costs

4 Ways to Reduce CX Outsourcing CostsThis post was originally published on 3/31/2022 and has been updated to reflect the latest information, stats, and trends.

From housing to groceries, the United States has been feeling the impact of rising costs. In the BPO outsourcing industry, wage growth has made it next to impossible to find workers without added financial output. As a result, many companies have been searching for new initiatives to deal with their tightening budgets. With this in mind, Outsource Consultants has come up with some innovative ways for you to cut costs related to customer support.

Better Utilize Technology

We all know that technology has become an essential part of the contact center industry, but we often forget why. The biggest impact made by technology is arguably the ability to reduce the amount of time an agent spends on the line. Whenever an employee handles an issue that could have been resolved easily with technology, money is being lost. This means having an understanding of what each innovation does is more important than ever. While many companies employ multiple ways to cut down call volume and increase self-service options, the three key types are: AI, Voice Analytics, and Self Service options

AI is a tool used to learn from customer interactions and apply the data to improve user experience. One specific example would be chatbots, which analyze customer queries and responses to better serve the next person in line. Using AI as a supporting element in your call center better utilizes agents to handle the more complex transactions and cuts down on incoming calls. Interestingly, even customers understand AI’s importance, with 73 percent saying AI may have a positive impact on their customer service experience.

Voice Analytics is a powerful tool, not only for tracking agent performance but also to ascertain trends. A Quality Assurance Specialist (QAS) listening to call after call has little impact on agent performance and results in a limited amount of review compared to overall call volume. Voice analytics software, on the other hand, can detect trends and produce reporting on every call. This allows the QAS to focus on coaching instead of call review. In addition to training agents, these reports can be used by other departments to gather information about trends in customer complaints. If your BPO provider can proactively tell you about an anticipated spike in call volume due to complaints, how powerful could that be?

Last but certainly not least are new improvements to self-service options. For retail companies, calls ranging from whether the item has been packaged, shipped, or delivered to questions about what was purchased in the first place can be easily handled by self-service portals. This frees up human agents to handle more complicated inquiries. Additionally, service and utility companies may benefit from account information pages for bill payment, service outages, or employee arrival times. A system to quickly give updates in one central place will not only lower call volume, but it will give your customer a feeling of control over their own experience.

Find a Partner With Multiple Global Locations

A knee-jerk reaction to rising call center costs is often to find a new partner. Although the price may seem lower, severing the bond you have formed with a BPO partner may hurt you in the long run. Even if you find a partner who meets your immediate needs, they may not be what you need in the future, thus starting the cycle all over again. So, what if your existing partner had the ability to handle your changing needs, no matter what they were?

Selecting a partner with biodiversity means that you may only need to search for BPO partner options once. By having the choice regarding market type, agent numbers, and region all in one place, you minimize the reasons to ever have to scout again. Not only does this mean less potential hassle for you, but it enables a longer, more solidified relationship with your BPO provider.

This can also assist you in Business Continuity Plans (BCP). Clustering your support in a small geographic area makes you vulnerable to regional disruptions like natural disasters or power outages. Spreading your support across the globe minimizes risks and creates a well-balanced BCP.

Building a relationship with a partner can take time, which is why it is better to invest in someone who can adapt to a changing environment now.

Plan For Expected and Unexpected Inquiries

Whether it’s the launch of a new product or a website crashing, you generally know when an increase in call volume is about to happen. Sometimes situations arise with short notice that can affect the number of inquiries received. How you handle each scenario — expected or unexpected — is key to how much a situation will cost your company.

In the event of an expected increase in calls, working with your team and BPO partner is vital. Having an open dialogue about what to expect and what will be needed could help you avoid a disaster. For instance, if you are preparing to increase prices for a particular product or service, you may want to use multiple tools to inform customers. This could be a landing page and banner on your website, social media posts, or equipping your chatbot to answer new queries. The more information you give to your customers, the less likely they will be to call you confused or frustrated and the fewer agents you will need.

Events can be planned for even when they are unexpected. Create an action plan for addressing a variety of situations that could lead to increased customer inquiry volume, as well as how your team will handle them. You may not know when or if your website will go down, for example, but knowing that it’s a possibility and putting a plan in place will lead to your success.

In both situations, using the knowledge that more and more consumers are looking to the internet for information can help you better reach them. In fact, it is estimated that the COVID-19 pandemic accelerated business digitization from anywhere between 3 to 7 years in the span of just months. Following several years of engaging online rather than in-person, customers expect the same information on the internet that they would have at a brick-and-mortar store. Making sure you keep them updated on anything that may impact their experience through these mediums is pivotal.

Start Looking Towards Gig Workers

The gig economy has been a hot topic for the last decade as services like ride-sharing and grocery delivery find a permanent place in consumers’ lives. Contrary to popular belief, gig work isn’t only being used by the delivery service industry. The number of people participating has increased to 36% of working Americans in 2023, and many industries are beginning to take part in the initiative, including call centers.

Rather than paying for agents that you may only need during a seasonal influx of calls, gig workers offer flexibility that the contact center industry hasn’t seen before. Many companies know when to expect higher-than-average call volume, such as peak retail times. Rather than staffing enough agents year-round to cover these times or scrambling to hire in advance of an impending spike, they have begun to pad their roster with independent employees. Gig work makes finding competent agents easier, as well as transitioning from a large number of agents to a smaller team after the season ends.

Get Help Finding Solutions

Finding the right partner with the best locations, gig workers and technology should be at the forefront of your mind as you prepare to cut costs. Don’t make it more complicated than it already is. Our team of outsourcing experts understands not only how to save you money, but also how to improve customer service. By applying our years of experience, we can develop a strategy that meets your unique needs.

Start the conversation by requesting your no-obligation call center cost proposal to help navigate the world of outsourcing options.

If you are a BPO partner with Outsource Consultants looking for assistance with technology, gig work, or any other questions, contact us at [email protected]!