Amidst all the volatility, Contact Center is still a major channel that brings significant revenue to businesses, which can range from 30% to 45%. What other interesting indicators are there about the current Contact Center market? What are the predictions for Contact Center in 2023? Read below!
Contact Center Market Overview
- 339.40 billion USD: is the size of the global Contact Center market in 2022. It is forecasted that by 2027 this figure will be 496 billion USD.
- 96% Customers say customer service is an essential factor influencing their choice.
Technology is changing the Contact Center environment
- 40% Large enterprises using manual and hourly labor will apply automation technology to their work processes by 2025.
- 36% Businesses will apply Cloud Technology to Contact Center.
According to research, Cloud computing will save 27% of downtime due to overload, 43% of storage costs.
- 70% Future customer interactions will be handled by AI. AI technology is expected to grow at a compound annual growth rate of 26,3% globally in the 20s.
- According to IDC, 65% Consumers will use voice, visuals, and augmented reality to interact with companies via mobile devices by 2023.
Contact Center from the Customer's Perspective
- Hthanks 65% of customers say they have higher expectations for customer service than they did a year ago (2021 data). High expectations among consumers have been a trend that has been steadily increasing over the past two decades.
- 90% Customers around the world consider problem resolution to be their top customer service concern. They also believe that receiving a response immediately is important.
- Things that make people most annoying thing about auto switchboard:
69%: listen for unrelated options
67%: cannot fully describe the problem
43%: lack of human interaction
33%: poor service
15%: confusing options
- Statistics on customer frustration with Contact Center:
27%: ineffective customer service,
12%: lack of speed
10%: inaccurate
- 78% Customers feel that they have a better experience if the employee does not communicate like a machine following a pre-written script.
- 77% Customers view businesses more positively if they are proactive with customer service.
- 56% Customers prefer to text rather than call customer service. 43% Customers want Contact Centers to offer chatbots to simplify customer service.
- 68% Customers expect customer service teams to demonstrate empathy.
- Near 58% Consumers will stop using a product/brand due to poor customer service.
- A customer is more likely to buy from a competitor than from a competitor. 4 times if they have a problem with something service related rather than a price or product issue.
- Customers are able to spend more than 140% after a positive experience than a negative experience.
Contact Center from a Business Perspective
- 59% Businesses survey customers to get feedback on Contact Center
- 61% Businesses track customer satisfaction
- 45% The company asserts that their main goal is to retain customers.
- 67% The company has shown remarkable growth by collecting customer feedback.
- 29% The company has installed chatbot integration software for Contact Center. In particular, 90% found that chatbot works effectively and improves performance.
Statistics of popular Contact Centers by industry
- Top Rated Contact Center System: Finance (26%)
- Contact Center System Needs Improvement: Government & Public Services (4%)
Frequently Asked Questions about Contact Center
1. What are the typical metrics of a Contact Center?
Common KPIs for tracking Contact Center productivity and performance are:
- Average call abandonment rate
- Average response speed
- Occupancy rate
- Percentage of blocked calls
- First call resolution rate
2. What is the average revenue of a Contact Center?
The average revenue ratio of Contact center is from 30% to 45%. This ratio is considered very high, this is still a main channel to bring cash flow to the company.
3. What is the ideal response rate for a Contact Center?
80% calls should be responded to in less than 20 seconds. However, this figure may vary depending on different industries.
4. Is the Contact Center stressful?
The answer is Yes. Some of the reasons why Contact Centers are always stressed:
- Dealing with angry customers.
- Heavy workload
- Repetitive work
- Low job motivation
- Strict time limit
- Have to learn about many new technologies and tools
Solution to build an effective Contact Center, increase competitiveness
The Contact Center market is expected to grow at a CAGR of 6.6% over the next 5 years.
With the No. 1 experience in Vietnam in consulting and implementing quality insource/outsource Contact Center systems, a team of experts, excellent Contact Center operations and management personnel, Bellsystem24 Vietnam will bring you the most optimal and flexible solution.
See details about our Contact Center services here.
