Your return on investment (ROI) calculation indicates the level of success your organization experiences through its outsourced call center solution. ROI is calculated using two key numbers: how much you’re paying or investing and how much you’re receiving or earning. Perform this ROI calculation to see just how effective outsourcing can be as well as to evaluate outsourced solutions against each other.
Calculating Your Investments and Costs
The first step to determining your business’s call center ROI is drawing up a complete list of costs associated. Remember to include both the costs that are part of your contract with your call center provider and also any internal costs you may experience related to that function. Some of the investment and expenses to consider include:
- Labor — The cost, typically contained in your call center contract, for all agents working with your business’s customers. This can have a fixed and a variable component; for instance, the fixed number would cover monthly labor costs throughout the year, while the variable would cover seasonal labor changes to effectively cover your busiest seasons. Also consider any internal labor cost for personnel who are tasked with overseeing your call center relationship and management, to the extent that that work removes them from other duties.
- Licenses — This expense may also be contained within your call center contract and covers the cost of any software agents may need to use while working with your organization. You may also extend licenses to outsourced personnel from a contract that primarily covers your internal workforce and need to remember that cost.
- Implementation & Training — Calculate the one-time cost of transitioning to a new call center as part of your investment in customer service. Then add on the recurring cost of training outsourced personnel whenever your product or service offering changes or whenever your organization is impacted by other changes.
Calculating Your Earnings
The second component for calculating your call center ROI is the earnings that come as a result. Remember these pieces:
- Increased customer loyalty — Additional monies spent due to positive customer service encounters, including upselling to a more expensive model or peripheral selling of associated items.
- Customer retention after issues — Money retained instead of lost after the call center fixed customer issues and prevented losing them to competitors.
- Productivity — Enhanced output in other areas from internal employees whose customer service functions are now handled by the outsourced call center.
- Cost Reduction — Other cost savings that occur as a result of contracting with the right call center partner.
After tabulating your investments and costs as well as your earnings, your final ROI calculation is simple: Subtract the costs from your earnings and the remaining figure is the additional money your firm has earned as a result of your outsourced customer service call center. Contact Ameridial today for call center solutions your business can’t afford to miss.