The Ultimate Callback Calculator
Did you know perfect queuing can dramatically improve your ROI? See how we can help you be kind to your bottom line.
This ROI Calculator uses a handful of inputs to calculate your return on investment into a virtual queue with Mindful.
To learn how things are calculated, let’s go over the inputs.
Inputs to calculate ROI
- Annual calls offered: This is the amount of calls that queue for your agents—the sum of answered calls as well as abandoned calls.
- Average Speed to Answer (ASA): This is the average amount of time, in seconds, customers wait on hold before they’re answered by an agent.
- Abandonment rate: This is the percentage of callers that hang up before they’re able to reach an agent. You should be able to find this metric in your CCaaS or ACD platform.
- Approximate FTE: This is an estimate of how many agents you have answering calls.
So how’s this ROI being calculated?
Our best practice for Mindful Callback is to offer a callback any time a caller has to wait more than two minutes. So we’re taking your ASA, applying it to your total number of calls, and applying an average take rate in order to calculate how many callbacks you’d likely use.
Nearly three decades of client data shows that Mindful reduces customer hold time, helping your brand deliver great experiences to your customers. The reduced hold time increases service levels, drives down ASAs, reduces abandoned callers, and cuts overall operating cost.
And there’s actually an emotional aspect to hold time: When callers are forced to wait on hold, they get angry. So when a caller is offered the great experience of a Mindful callback, they reconnect in a calmer, happier mood, which means they spend less time venting (reducing call handle times), and are happier overall about their experience (driving brand affinity).
A great callback solution allows you to deliver better levels of service to your customers. Customers enjoy lower wait times and faster speeds to resolution that as if you increased your contact center’s labor budget without incurring the additional labor expense.
This is great—now what do I do?
If you’d like to get a more customized analysis of your potential ROI, just fill out the form on this page and we’ll be in touch!
And if you’re still interested in how all of this accomplishes what it says, here are some resources: