Tips To Help Your Business Stay Competitive In A Weak Economy

by Christine Harrell

Few industries are seeing the same revenue they saw a few years ago. Some analysts say the situation is improving while others warn of economic meltdowns. Either way, your company needs to remain competitive right now. Tools like call center metrics may be the difference between whether or not your company survives.

Competing By Price

Price used to be an important tool for competitiveness. New companies competed against established firms by offering bargain rates. Large organizations would cut prices in one division to gain market share, allowing the profits from another division to cover the losses. Established brands charged more, depending on their reputations to give their products and services value.

Businesses used to controlling the market with price find the tactic isn't effective in a weak economy. Consumers and businesses struggling to pay monthly bills automatically turn to the companies with the lowest prices. Mature companies are forced to freeze or cut fees to retain business and keep revenues up. You have to find new strategies to remain viable and keep your customers satisfied.

Do More With Less

If you can't control revenue, you need to control costs. Cut out the waste and turn your business into a lean organization that makes the most out of every resource. This is where tools like call center metrics are invaluable.

Analyze your contact center process by studying the call center metrics. Are your staffing levels adequate? Call traffic fluctuates by hour, day of the week and day of the month, but typically follows certain patterns. Study those patterns and staff your center accordingly so you have just enough agents to take the calls without leaving anyone idle. If business has dropped off, you may find you have too many agents. Rather than laying them off, find other tasks to keep them occupied and ready to be deployed when your business turns around.

Adding Value With Customer Service

Add value without increasing cost, and your profits will grow. Value can be added with intangible assets such as your brand reputation. When you use call center metrics to make your call center more efficient, don't lose sight of the value good customer service adds to your products.

If you've seen a drop in call volume, this is a perfect time to retrain your agents and refresh them on basic customer service skills. Agents should be encouraged to take that extra second to express sympathy for a caller's problems, apologize for a company mistake or ask if the caller has any questions before ending the call. These small gestures greatly increase customer satisfaction and your business reputation, and yet cost you nothing.

The worst thing to do in a weak economy is nothing. Look at your business. Use call center metrics to find and fix the inefficiencies. Find new opportunities to provide better service. Maintain your edge and you will not only survive, you will flourish.

Author is a freelance copywriter. For more information about call center metrics, please visit http://www.inovasolutions.com.

Article submitted Friday, September 02, 2011 & read 3 times.

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