Adapt to the New Reality: Generating Revenue in Contact Centers

“It’s not the strongest that survives, nor the most intelligent … It is the one that is the most adaptable to change.” Charles Darwin’s insight into adaptability changed our understanding of the natural world. But these are also wise words for today’s rapidly evolving business models.

Until recently, budgetary expectations of contact centers was all about cost-cutting—fielding calls and resolving customer issues quickly and efficiently. But the digital transformation has blown those expectations out of the water. Modern contact centers are now being challenged to generate revenue and increase customer lifetime value.

Yet at the same time, consumers balk at the number of daily marketing and sales messages received across multiple channels. They increasingly opt-out of contact lists for marketing or sales purposes, putting their names on “do-not-cold-call” lists. Or, using caller-ID to screen out telemarketing calls. As a result, businesses that try to adapt to this new reality find that all types of contact initiated by customers—voice, social, text, chat—can be great revenue-producing opportunities. These interactions also offer the best way to build customer relationships that ultimately lead to long-term brand loyalty.

Follow the customer and you’ll find the opportunities

There’s a lot to learn from today’s most revered and iconic companies about adapting to change. They never take their eyes off customer satisfaction. Consider Amazon. It shook up an old way of doing business by selling books online. But its major transformation was adapting to a market looking for an easier way to shop for everything.

Think about the areas where you could make tangible improvements to customer experience by responding to expectations. For example, take credit card information over the phone with a PCI-compliant solution. It not only addresses customer desire for a fast and secure interaction but also opens the door to a new revenue stream.

Another way to look at generating revenue is the result from solving problems. Let’s say your answer times are unacceptably long for your customers or prospects. Speed up answer time through automation or offer a callback feature that saves time for you and your customers. And while customers are waiting, make use of that time by greeting all calls or other contacts with a message regarding your current sale, or a reminder to place holiday orders early. Whether you prefer simple or sophisticated, try one of the many ways to adapt and drive revenue by making life a little easier for your customers.

Justify your next best steps

Before you jump into the great new version of your contact center, build your strategy on solid ground.

Forrester Consulting recently conducted a Total Economic Impact™ (TEI) study to determine the financial impact of the Genesys PureCloud™ platform, including how it helps contact centers increase revenue. We commissioned the study to give companies a framework to use when considering a move from a legacy contact center solution to a modern customer experience platform.

The TEI framework identifies all of the factors that affect your investment decision. Empowered with this data, you can present a business justification and adapt quickly to a revenue-generating model.

Download the Forrester TEI study and learn how you can transform your contact center from a cost center to a profit center.