In this way you get a more accurate picture of total revenue when you look at the value of your lists and leads. And, you have to look at your manager’s time. Now factor in your agent’s time in terms of how much you’re paying them per hour to get that conversion. In the second case, your revenue per lead is very low at $75/lead. Another list bought for $1000 converts into $30,000 in revenue, but takes 400 leads. “You pay $1000 for a list that converts into $15,000 in revenue and it takes 100 leads, which is $150/lead in revenue. John Gallagher, numbers guru and call center KPI expert, gives a great example of why you want to analyze your call center lead metrics from a more comprehensive perspective in order to drive increased call center efficiency. You can redirect your budget to vendors offering the higher performing lists.You’ll increase effort on higher performing lists.You’ll stop wasting agent effort on low performing lists.These insights empower smart decisions and more effective call center strategies right away. The best way to improve lead efficiency is to arm yourself with real-time call center reporting and analytics so you can get insights at both the list and list vendor level. Smarter Decisions with the Right Analytics With this new data they shifted their budget to the $1.00 leads and increased their profitability by about 40%. Once we got them working with Convoso’s real-time analytics to calculate their true CPA, they determined that their agents were spending 50% more talk time trying to convert the cheaper $0.50 leads. They were making critical decisions about their call center’s operations based on only a part of an equation, an incomplete picture. The problem was they didn’t have a way to factor in other relevant costs: the call center agent’s time trying to convert the leads and the cost of the dialer. So, the company thought they were getting a higher return on the $0.50 leads. The $0.50 leads were converting at about $37, whereas the $1.00 leads were converting at about $52. Some leads cost them $0.50 per lead, while another lead source charged $1.00 per lead. There was a credit repair lead gen company out of Atlanta that was buying leads from several different sources. Here’s an example of the difference it can make to your bottom line when you measure your true CPA. Think of it another way: If I opened a restaurant and set menu prices based on the food costs, but didn’t take into account what I pay the chef, the cooks, the waiters and waitresses…I’d be out of business. They’re making strategic decisions about how they’re operating their call center, but they’re not seeing the whole picture. Unfortunately, many outbound contact centers don’t actually measure true CPA – they only look at it on a cost per lead basis. The best-in-class contact centers focus on their CPA at a lead vendor level, as well as how much revenue comes out of those leads. What’s more critical to overall call center efficiency is knowing your true CPA. After all, who wouldn’t want to pay less for leads?īut CPL is just one piece of the puzzle. Many call center managers zero in on their cost per lead (CPL) numbers. CPL vs CPA – Know your true Cost Per Acquisition No matter your company size, the most helpful advice I can give about improving lead efficiency is to understand your true cost per acquisition (CPA), not just your cost per lead. I’ve talked to hundreds of businesses about how to increase call center efficiency. Measuring Call Center Efficiency: Are You Looking at the Right Metrics? Metrics & Reports that Improve Lead Efficiency Top Tools to Improve Outbound Call Center Efficiency Why Leads Are Key to Call Center Efficiency Successful Call Center Strategies that Increase Efficiencies The Right Metrics for Measuring Call Center Efficiency Here’s the breakdown of what we’ll cover: We’ll look at boosting contact rates, analyzing the right reporting metrics to calculate your true CPA, using smart dialing strategies, tools for managing caller ID reputation, and maximizing the power of lead efficiency. In this article, I’ll focus on how to improve call center efficiency and profitability by focusing specifically on lead efficiency. In my experience over many years of working with lead buyers and lead sellers and all kinds of business verticals, the most effective outbound calling strategies simultaneously improve performance efficiencies across leads, agents, and managers, and see the results in a better ROI. But they don’t always know the best dialing strategies to drive that profitability. Every outbound call center I’ve known is in business to make a profit.
0 Comments
Leave a Reply. |