I just completed a business plan for my call centre studies. Here is my view on ROI.
Return on Investment
It would be crucial to better understand return on investment in relation to call centre investment. The US-based research house, the Gartner group states: “Marking call centre investments now will achieve real competitive advantage, waiting to make an investment for even a few months can make the investment a requirement to stay in business”.
Traditionally ROI analysis, focussing on cost-avoidance or reduction, does not accurately portray the full range of benefits that flow out of a call centre investment. The “few months” mentioned could represent the difference between competitive advantage and survival.
Let us ask the question – what is the ROI for customer service investments?, rather than asking the typical ROI questions. What are the benefits of investing in customer service, and when do they start to appear? The answers to these questions are fairly simple, while the investment will contain quantitative and qualitative elements, such technology, personnel and processes. Recent research by Gartner also revealed that during the next five years, organisations that focus on cost reductions in the call centre will damage customer satisfaction and greatly reduce the opportunity for revenue enhancement.
The call centre today has developed from handling inbound and outbound calls to offering sales and service opportunities, thus creating new prospects for additional revenue streams. While may factors, such as changing product mix and competition affect the call centre and customer base, it might be difficult to analyse the revenue generation of a specific investment. The timing of the investment is crucial to maximising its benefits. The “few months” mentioned in the Gartner quote in the opening paragraph, could represent the difference between competitive advantage and