Nothing is more frustrating for customers than having a long wait time before they can even speak to a representative. Based on their wait tolerance, a portion will hang up and abandon the call with more joining for each extra minute of wait time. For customers and prospects that were not already feeling good about the company, not being able to reach service reliably is the last straw and they cease being customers.
One of the most common and important KPIs of contact center services is the call abandonment rate because it directly affects the Customer Satisfaction Score. While it is impossible to eliminate abandoned calls altogether, the agents should strive to lower the rate and improve satisfaction.
Understanding Call Abandonment Rate
Call abandon rate is the percentage measure of the number of customers who terminate the call before it is answered. This rate might vary throughout the day depending on the call center’s queue strategy and service level performance.
As per the 2021 Global Contact Center KPI bench marketing report by Talkdesk, the average call abandonment rate hit 5.91 percent. Several factors led to this including immense pressure to manage increased call volume during the pandemic. The rate is considered “high” when it reaches 10%. However, since we are in a fast-paced world, the rates can reach as high as 20%.
How to Measure & Calculate Call Abandonment Rate
The call abandonment ratio must be regularly tracked. It’s a little complicated to measure because sometimes the numbers alone do not fully reveal the whole story. To properly understand what is happening in your contact center, you must understand the context behind the data.
Here are the steps for calculating the abandonment rate:
Calculate the Number of Calls Received
The first step is to calculate the number of calls received in a particular period of time. Usually, the number of calls is measured every month, but you can use a week, a year, or any other time frame that works for you.
Subtract the Number of Calls Handled
The next step is to subtract the number of calls handled from the total number of calls received.
Some companies might define a “handled call” differently than others. For example, if the conversation lasted for less than 5 seconds, a call center of an IT support company might label it as abandoned.
Divide the Number by the Number of Calls Received
Lastly, divide the difference by the number of calls received after subtracting the number of handled calls from the total number of calls received. You should receive a decimal value from this that you can, later on, convert to a percentage by multiplying by 100.
How Can Call Centers Improve the Call Abandonment Rate?
If the abandonment rate is high, it’s definitely an issue and requires attention. Factors such as a complicated IVR menu, ineffective call routing, and poor workforce management could be affecting your agents’ ability to manage customer calls efficiently.
As you rethink your call strategy, the following tips can help reduce the rate and improve the effectiveness of a call center:
Increase First-Call Resolution
Call abandonment rates are higher when a caller doesn’t get the outcome they were expecting on the initial call. To put it another way, if someone is calling about the same issue or a query a second, third, or even fourth time, they are far more likely to become frustrated and hang up. Therefore, the first strategy to reduce abandoned calls is to coach your agents to deliver the right answer on the first call.
Boost Your Answering Speed
There should be no more than 30 seconds between the time a caller dials the number and indicates they want to speak to an agent, and the moment they get someone on the line. However, some businesses take an average of a minute or longer to respond. You need to work on the average wait time by optimizing the staffing and scheduling agents and using AI and other intelligent tools to improve and optimize call routing.
Leverage the Call Back Feature
Customers don’t like to be put on hold. They can have a far better service experience when given the option of a callback rather than being put on hold. Using intelligent callback technology such as IVR virtual assistance and IVR automated callback software, you should offer customers the option to call back. This would be a wise investment as it will improve contact center efficiency and customer retention. This is one of the reasons all modern call centers that offer outsourcing solutions use automated callback software to optimize agent performance.
Offer Agent Coaching and Training
Regular workshops, training modules, and coaching have proven to be effective in boosting agent confidence when answering customer calls. Providing your agents with the resources and etiquette guidelines they need to answer and resolve customer queries can successfully help in lowering the call abandonment rate.
Well-trained agents can summon their skills, expertise, and knowledge to do what’s best for the customer on the other end of the call. Training provides them with the latest strategies to streamline and prioritize their day to deliver high-quality customer service.
Improve the Queue Experience
Only so much can be done to reduce the waiting time. Therefore, sometimes, it helps to focus your shift from the numbers to the experience. If callers are informed of the exact duration of the queue, they might not be as frustrated. Additionally, think of what you want to convey via the on-hold message. Instead of making them hear the phrase “your call is essential to us” deliver something informative such as new product information. At the same time, don’t overlook the importance of music. Such things show your customers that you care.
Conclusion
There is no denying the fact that customer retention may eventually suffer because of long wait times, which can further impact customer satisfaction, and eventually your sales negatively. By implementing the strategies discussed above, you can reduce the number of abandoned calls and deliver a fulfilling customer experience. Remember, in almost every industry, quick and knowledgeable help, and friendly service are important elements of a positive customer experience, and that is what influences people’s purchasing decisions!