Outbound call center software solutions refine the process of outbound call centers and ensure a healthy customer-business relationship. The out of the box outbound calling software helps businesses support and manage their marketing, sales, and other communication channels.
The right setup and proper understanding of outbound call center metrics and analysis of key performance indicators mentor the call center business towards profitability and growth. Over here we will talk about the multiple outbound call center metrics that elevate the success percentage of many smart call centers. Among these are a few metrics that require daily monitoring, while others need to be started on a weekly, monthly, or even quarterly basis. Remember, not every KPI or metrics applies to every outbound call center. So choose the one that suits your business operations the best. Now, let’s begin with a detailed explanation of the well-categorized twelve call center metrics.
List of leading outbound call center metrics for successful business solutions
A) Call Center Lead KPIs
1. Cost Per Acquisition (CPA)
By the term acquisition, we mean leads. So the cost which is associated with the conversion of leads is calculated with the help of CPA metrics. This cost analysis is a very significant metric for any outbound call center. The lead can be an agent-sold lead or any other billable lead.
Perks of cost per acquisition metrics:
- Have a distinguished analysis of the cost incurred and savings on overall lead acquisition.
- Optimization of outbound call center’s return on investment.
- Ease of analyzing multiple call center activities on one metric.
- Ease of calculating acquisition cost, marketing cost, and profit estimates.
2. Connection Rate
Connection rate is amongst the metrics which is studied daily. It tells us about the efficiency of the leads. To calculate the result of these metrics, one needs to determine the value for several calls placed and the number of calls answered. The result of dividing calls answered by a call placed is the resultant connection rate percentage.
3.Lead Conversion Rate
The focus of lead conversion rate metrics is to analyze the number of calls placed to convert a prospect into a buyer or consumer. We calculate it in percentage. A low rate of conversion means more cost of the company is being incurred to convert a lead into a buyer. One can make use of outbound call center software to get real-time data for analyzing these metrics. The use of outbound call center solutions helps to derive strategic business decisions on a real-time basis.
Also, the outbound call center can make use of these strategic approaches to further increase its value of lead conversion rate:
- Dial time-out adjustment
- Dial level scheduling
- Carrier quality monitoring and management
- Recycle logic tools like automated workflow dialing
B) Call Center List KPIs
Call center list KPIs track the performance of the call center by lists and source.
1. Contact rate
Contact rate metrics help analyze the quality of call center operations. It shows the quality of agents, their lead list, and the outbound call center software being used. To measure the contact rate, divide the actual number of live persons by the total leads on the list. With a good level of contact rate, the agents can spend their time productively by contacting the right person at the right time.
2. Average Talk Time
The talk-time metric is of valuable consideration when one needs to assess the agent’s productivity. For measuring these metrics, the average talking time of the agent is also to be considered. When the average talk time is higher than the benchmark, the agent’s conversion rate is also to be considered. Because the prospect gets converted into a customer, then the extra time does not cost but becomes an investment.
The average talk time of the agents is more productive when they are handy with the scripted sales script. This is because they know very well what is to be said when and in what manner.
3. List Profit and Loss
The profit-and-loss metrics measure the profit and loss by taking care of revenue, the number of dials, billable hours, lead cost, minute cost, average talking time, etc. The calculation which can be made to determine profit and loss are:
Revenue per hour = Revenue / Estimated Billable hour
Agent Cost = Billable Hours * Agent Cost per hour
Total Cost = Agent Cost + Lead Cost + Minute Cost
Profit = Revenue–Total Cost
C) Call Center Agent KPIs
1. Wrap up Time/ After call work/ ACW
We can analyze this metric regarding the individual agents or the team of agents. It refers to the measurement of time when the agent is not on call but is engaged in making notes or getting trained. For this reason, we advise that the call centers should make use of outbound call center solutions to save on the wrap-up time and focus more on productivity.
2. Calls per Agent
Calls per agent show how active a particular sales agent is on calls. We should properly monitor the agents regarding their performance to increase the rate of calls per agent. Few other strategies of improving the calls per agent are automating the workflows and offering the agents well-broadcasted communication channels.
3. First Call Close
“Customers will want to talk to you if they believe you can solve their problems.”
The First Call Close (FCC) metric is a very significant metric in any outbound call center. It shows the total number of sales made by an agent on his “first call” or contact with the customer. It shows the overall improvement in the strategies of the business to generate revenue faster and more. To improve the overall result of these FCC metrics, it is advisable to provide sales call scripts to the sales agents. One can also make use of outbound call center software options, to generate automatically scripted sales calls.
D) Dialing KPIs
1. Average Hold Time
Because of automated dialers, often, the customers need to hold the call for a longer time, which sometimes results in call drops or call abandonment. Hold time may be due to technical reasons or because the agent is searching for a solution for the client. Therefore, the proper and in-depth analysis of this average hold time is essential to study, as it might lead to a reduction in overall profitability.
2. Abandoned Call Rate
In inbound or outbound call centers, when the dialer hangs up the call or when the call gets disconnected before getting connected to the live agent, then such calls are termed as abandoned calls. Abandoned calls may cause loss of leads to technical issues with the dialer system.
Tracking of abandoned call rate metrics depicts the percentage of callers who hang up the phone or abandon the queue. To calculate the abandoned call rate, one needs to divide the total number of abandoned calls by the total number of calls. Please note you need to exclude all such calls from the calculation which get disconnected within the first 5 seconds of the call.
3. Average Dropped Call Rate
Call drop is when there is no agent to attend the call. Call drops when crossing a certain specified limit affect the business adversely. Legally too, the call drop should not be above 3% daily. For this, monitor the outbound call center campaigns daily. The high rate of average dropped call rate targets the inefficient dialing strategy of the call center.
The adverse impact of ignoring outbound call center metrics:
- Increase expenses on each call and decline in overall profits
- Wate of agent’s time on unproductive work
- Minimal or zero up-gradation in the work pattern of outbound call centers
- Failure in access to opportunities and profits
- Fear of losing leads to competitors
- The decline in maintaining healthy customer relationships
Call center metrics is a substantial source of improving the analysis and strategic implementation of outbound call center campaigns. The call center software works in such a way that helps to provide quality solutions, and also improve the revenues while reducing expenses. Overall, they add more leads to the business. More lead generation means adding more business to the company, even at less cost of investment.
So doesn’t all this plethora of information lure you to explore our suggestive range of outbound call center software solutions? If yes, please then please click on the list of best outbound call center software of 2021.