It’s becoming harder and harder for the BPO firms to translate the costs into profit with increasing competitive edge along with the post-recession effects, the profit margin is dropping without any doubt. Though generating profit is not the primary goals of a call center, its primary goals is to be efficient in operations, satisfying the customers and cost reduction so it can profitability can be easily judged based on these parameters. Meanwhile, companies don’t really see call centers as revenue generators and rather consider them generally as just a service provider or cost centers. If they see it from other perspective, then call centers India can be a great source of profit generation and by this they can unceremoniously start generating profits out of them. As these call centers apart from resolving customer’s issues have the potential to optimize companies’ revenue. Not to forget, these call center are a very important source to market your company through these call center representatives and they help you in bringing new customers.
Call center profit margin in India has dipped to 13-14 % which was 18-20 % before, so it would be right to say that the profit margin in this sector is been muted for a while. But the lines are very blur between no expectation and slight good future prospects. As India is now not only known for serving those big shot companies from the western land but also specializing in product based technology. But all this not only contributes in effecting hold of any business. Nevertheless, the evidences suggest otherwise. India still has a strong hold in the business and is not still ready to leave the tag to be at the top in providing outsourcing services. The country’s such cordial relations with western countries like US or UK makes it easier to continue its services with some of their top brands.
It very much depends on the company also from you have got the contract that where does your profit margin lies. Because the manner of payment varies from company to company and as the manner alternates so as the profit margins. Therefore, it can be indisputably being stated that call center profit margin in India does not depend on just the performance of the call center company or on the overall market trend. In fact, there are many other factors that may help these call centers to improve their profit margin which are not given attention to. Let’s see all the factors profoundly and note to how to give a good push to the profit margins.
- By boosting the customer experience by using call center softwares- To bring home good revenue in respect to magnitude by revamping the process and the system. Basically call center software makes use of the call center applications to manage the process of customer calls and giving equal convenience and transparent access into the whole catalog so that they can easily track the progress of their requests. Thus it makes the whole process more conducive and transpicuous.
- Make sure to captivate the customer as soon as the query is registered – At all the levels starting from the query is enlisted till it is resolved, each and every phase of the query cycle is significant. Sometimes the query can be quite complicated, in situations like these another level of patience is required or else you will lose the patience of your customer and a business link as well. If things will be kept under control from the first step, the development cycle of any query will run very smoothly.
- Sounding condescending to the customers- Sometimes due to the odd shift hours, call center representatives start sounding condescending and specially during the last hours of the shift. The long tiring shifts makes the employee indifferent to any kind of query that a customer comes up with. Their solutions become inflexible and at they end up saying closing sentences like “The only thing I can do…” or “That is the only option”. Empathetic statements will also fail to assuage situations like these and the only things that would save the reputation will the legitimate solution. If not getting that solution, then the best would be to at least take your customer into confidence that they would definitely look into their issue after consulting any senior or the responsible person. But this all will need the call center representative to go that extra mile of efforts. This behavior should be appreciated once in a while so as to motivate the employees to try to leave no stone unturned.
- Focus on the volume of calls to generate more revenue- In the end the revenue is most effected or regulated (to be more precise) by the volume of calls. The more the number of calls each representative is handling, more is the revenue. So one of the main factors that should be kept in mind during the hiring of employees is the capability to handle the calls in bulk. The best time to make an impression on your client is the times when there is an outage going on or any other software glitches or issues when the call volume is high. The efficiency and enthusiasm of your agents will pay off. However apart from enthusiasm your employees will need one of the best call center software solutions available in the market.
- Maintaining the data with optimum authenticity – In the longer run, authentic data related to number of calls, number of conversions etc. should be reported with full authenticity. Bona fide data will benefit your call center revenues in the longer run.
- Rapport building is the key- Meanwhile selling or marketing any product on the call or simply resolving any technical issue, rapport building is the key that will lead to a happy customer. Understand their needs first and not just try to enforce your products irrespective of their needs and preferences, this might be just an exercise in futility.
- Every customer needs different approach- The agents should not come up with the same approach with every customer. A customer of older age needs a very different way of approach and behavior than a very young. They might get agitated very quickly as compared others. The agents should be quickly adaptable according to the customer.
- The agents should have a good prior knowledge to tackle all the questions- Sometimes customers come up with mammoth of queries related to the product or services so to answer them properly and satisfactory, the agents have to be thorough with all the information or specifications or any offers coming with the product. To gain information in the nick of the time, your agents require an efficient call center management.
- Last but not the least, employees are the head honchos – The employees working in your call centers are the only ones who will at last be working on the actual floor. Hence, their motivation and appreciation is of utmost importance. You can start giving bonuses or commissions for good work or as a reward for exceptional performances.
As soon as you start incorporating these manners in your operations, the sooner you will start getting the results. Sooner or later your call center might get into list of the most revenue generating call centers.