3CLogic's Contact Center Blog

When it comes to waiting on hold, studies have shown that callers don’t have a ton of time to spare.

A recent survey from Arise Virtual Solutions reveals that over 65% of customers are only willing to wait on hold for a maximum of two minutes before hanging up. What’s more, over 13% of respondents said that hold time, no matter how long, is unacceptable altogether.

Customer experience is quickly becoming a business’ next competitive battleground, expected to overtake price and product as a brand’s key differentiator by the year 2020. And as consumers become more informed and empowered, and alternative touch points continue to emerge, customer expectations are only anticipated to grow even larger. But as it stands, the global “Switching Economy”—or the potential revenue up for grabs in the U.S. market due to changes in consumer spending patterns and switching rates—has swelled to $1.6 trillion (a 29% increase since 2010), indicating that a large percentage of businesses are not adequately keeping up with their customers’ growing demands, causing them to take their business elsewhere. But with the help of technology and a few best practices, businesses can help boost their customer satisfaction scores and retention rates: 

According to a recent study, customer satisfaction ratings are 35-45% lower when a second call or interaction is required to address the same issue (Customer Relationship Metrics).  And with 82% of clients rating speed-of-service as one of the primary drivers behind their satisfaction ratings, with 45% abandoning transactions when expectations aren’t met (Forrester Research), the challenge facing contact centers seems fairly obvious.  Provide quality service fast.   So why is that contact centers still fail to address 32% of all incoming customer inquiries and concerns on the first go-around (SQM Group) despite the clear need to do so? 

One has only to consider his or her own experience with a sales or support representative to quickly list how the service could perhaps be improved.  Granted, not all customers are reasonable, nor can every inquiry be easily addressed in a single call or interaction.  However, if someone wants to upgrade their service, follow-up on a support ticket, discuss their bill, or review a possible purchase it shouldn’t be painful or difficult.  But for those of you who need a little more to justify the value of first call resolutions (FCR) then consider the following: