Imagine a call center where the agents must talk to approximately 20 customers in order to make just one sale. Also, a high percentage of those telephone numbers provided would result in ‘no contacts.’
In order to cover the payroll, operating costs and to achieve profits, the company knew that each agent must close a certain average number of sales per hour. Traditional data showed that it took 30 to 60 seconds to hear a ‘no’ and about 5 minutes to close a sale.
So far so good!
Where does this go wrong?
Prior to installing a predictive dialer, agents would manually make the calls experiencing an average of 40 percent ‘no contacts.’ Add to this, the dialing time, ringing time and time spent in reviewing the call list, it was found that the agent could average only 17 minutes of talk time per hour. At this rate, agents weren’t going through with the task of talking to 20 customers to make the sale. It is extremely annoying for the agents not to be talking long enough to make a sale.
What is the solution?
A well-managed predictive dialer can average 54 minutes of talking time in an hour. This is a 300% productivity gain or in other terms, one agent would be able to sell what three agents were selling earlier.
Tripling your agents talk time would result in reduction of your labor costs. If your call center is paying $2500 per month, the dialer could save $5000 each month in salaries. This also results in 3-fold increase in sales and dialer pays for itself in a short duration of time.
Not just for telemarketing!
Predictive dialers are not just meant for telemarketers who are constantly looking at selling something. It can be used for a multitude of applications. For instance, yesterday I received a call and the little pause told me that it was a predictive dialer making the call.
It so happened that I missed my billing cycle for paying my mobile bills and a very pleasant agent reminded me of my overdue bill. What an application to use a predictive dialer.
They can remind hundreds of slow payers in no time with the most efficient ratio of calls completed to man hours invested. The other applications that I can think of include election campaigns with automated voice messages, and customer mailing list updates among others.
How expensive are predictive dialers?
They are fairly expensive and if you cannot afford them in the initial days of your business, the easiest thing to do is find a provider who offers it from the cloud. This way, you get to have all the benefits of predictive dialing with your subscription, without having to invest the capital on a predictive dialer.
What are you waiting for? Go ahead and make your sales predictive.