Banking Technology News just wrote an article on how the call center has become a major revenue driver after being treated in the past as simply a cost center. Specifically, the article discusses how the caller center can be a source of cross-sell and up-sell when customers call in. A key aspect of maximizing revenue from inbound calls is to know how to best direct each incoming call. There are a variety of options to service each call from the call center location (outsourced, US-based facility, remote agent) to the qualifications of employee (training, tenure, past experience).
The cost implications of these different options are clear and easy to measure, but the impact on revenue is much harder to quantify. The challenge in measuring the impact of a given channel is to find comparable customers who did not call in or were routed to a different channel. Customers calling in tend to be inherently different, so this requires careful matching.
After getting this matching right, we have found that in general the more expensive call center options do result in more cross-sell and up-sell, but only for some customers. As a result, some customers should be routed to low cost channels while those with more revenue potential should receive the more expensive and higher level of service. It is difficult to tell which customer falls in which bucket, but getting it right can drive millions of dollars of profit improvement.