Update: This article was last updated on 20th August 2019 to reflect the accuracy and up-to-date information on the page.
In every business, productivity is the top priority. With the development of cloud technology, the traditional communication tools have been replaced, leading to better productivity. Automation technologies have replaced regular physical tasks. The same is valid for the customer service environment too, where intelligent dialers have replaced manual dialing.
Predictive dialer is one such dialer which uses sophisticated technology and machine learning algorithms. It makes sure that minimal time of the agent is spent on unproductive call, thus, contributing to much higher productivity along with satisfying customer experience.
What is Predictive Dialer?
A Predictive dialer is a software which dials a maximum number of calls in minimum time by filtering busy signal calls, voicemails, no-answer calls, and disconnected calls. The dialer has a well-organized call metrics structure which can predict when the agent will become available to answer the next call.
Predictive dialer system not only reduces idle time but also increases the efficiency to maximize the output. The manual effort is eliminated, which helps in bringing a stream of phone calls to the agents, leaving them with very less downtime between calls.
It makes sure that no unproductive call falls to an agent, thereby, saving the time, which was earlier spent in dialing numbers and waiting for responses.
How does predictive dialer work?
Predictive dialer system collects information such as
- Average call length
- Number of available agents
- Available lines
- The average number of calls it takes to have someone pick up finally
- The ratio of answered calls and call abandonment rate
- Hit rate
- Hold time
- Closure rate
- Calls per account
- Call quality.
After collecting information, predictive dialer software will analyze the information with the help of inbuilt algorithms and sophisticated mathematical equations; thereby, intelligently assigning the calls to the adequate agent.
If you want a detailed version of algorithms used in predictive dialers, you can have a look on Predictive Dialer Intensity Optimization Using Genetic Algorithms.
The dialing software determines the pace at which to dial the numbers, to utilize every single agent. The pace is designed such that it reduces the waiting period of the agents at the same time prevents agents from sitting idle.
For a detailed understanding of the working of a predictive dialer system, you can have a look at this video:
What are the benefits of predictive dialer?
Predictive dialers are preferred by many companies because it supplies agents with a steady stream of calls which leads to maximum utilization of the agent with minimum downtime. It reduces not only idle time but also improves operational efficiency, increases agent talk time, helps in real-time monitoring and reporting. And, ultimately, results in better lead conversion ratio.
Let us now look at some of the interesting advantages of predictive dialer software from a business perspective.
1. Cost Reduction
Since predictive dialer is hosted on the cloud, it does not require large investment in hardware or infrastructure. It only requires a reliable internet connection with sufficient bandwidth — no requirement of an operator to manually handle the system software.
Moreover, the dialer system can be upgraded inexpensively from time to time. Testing of the predictive dialer software can be done with a free trial, and the option of pay-as-you-go structure is also available, which saves a lot of costs.
It also reduces the number of agents required to handle the calls, thus, contributing to low operational costs.
2. Monitoring Performance of the agents
Predictive dialing system helps in monitoring the performance of agents by the feature of call monitoring and recording interfaces.
The dialing software has an in-built reporting tool which delivers the performance report of every single agent. After a review, appropriate KRA’S(Key Responsibility Areas) could be structured or designed to improve the performance of agents by managers.
3. Enhanced Security
The call center stores the sensitive information of their customers. Personally, identifiable information security is the prime concern of any business. Cloud technology is among the safest and safeguarded options available to them.
The cloud technology gives the flexibility to secure the sensitive data in a private cloud and the rest of the data in a public cloud. Disaster recovery functionality is also an added advantage in the cloud predictive dialing system.
4. CRM Integration
Successful sales and customer service depends on a strong relationship with customers. The CRM software like integrated with call center system can bring excellent results to the business. Some of the features present in CRM software that help in relationship building are:
- Text Messaging
- Help Desk
- Web Chat
- Lead Scoring
- Social Discovery
- Marketing Automation
5. Satisfied Customer Experience
No customer wants to wait for long over the calls and listen about the product in which they have no interest. Hosted predictive dialer solves the issue by taking care of customer convenience and giving priority to customer preferences.
The integration of CRM software helps the agent to view customer’s information right in front of the screen. The agent can pitch to the customers according to their needs and wants. Customers will feel delighted when most convenient product’s information is delivered to them at the right time which not only matches their taste and needs but also makes them think that the company is paying attention to their interest. The feature helps in increasing customer loyalty.
6. Increased Productivity
The call centers using predictive dialer system spend more percentage of time communicating with live customers as compared to the ones not using the dialer. Increase in talk time contributes to a rise in the generation of leads, which ultimately, brings more productivity to the business.
7. Saves a lot of time
Predictive dialer is a hosted call center software which reduces the waiting time of an agent between the last call and connecting to the next one. The dialing software also filters busy signal calls, voicemails, no-answer calls, and disconnected calls. The process not only saves the time of customer but the time of agent too.
8. Auto Detection of Bad Numbers
The hosted dialer automatically detects any busy tone, incorrect number, no response, using an intelligent algorithm, and connects only those numbers that are productive and relevant for the agent.
9. Answering Machine Detection
Predictive dialer has a functionality of Answering Machine Detection (ACD) which screen calls with a voicemail inbox message. The call is not transferred to the agents as it does not have a human on the receiving end. The feature saves a lot of time of the call center agents.
10. Call Recording
The dialing software has a feature to record the past calls, download the recordings and store it for future references without the help of an external device or any manual work by the agent. The recordings can be stored up to a more extended period.
Who uses Predictive Dialer?
We have already seen various benefits of predictive dialer software. The dialer software has not only positively influenced the performance of the business, but it has also increased productivity. The hosted dialer has become one of the most powerful weapons; bringing in a tremendous transformation in multiple industries.
Predictive dialers have become an essential element for every business. The dialing software overcomes the issue of poor customer experience by providing a number of solutions. So, let us discuss how the dialer has provided solutions to different industries?
- Collection Agencies – The collection agency’s success depends on their ability to connect with as many numbers of people as they can, but the numbers should be productive. In minimum time, they have to generate maximum leads to increase the productivity. The task is challenging, but predictive dialers have made it easy through the features like ACD, Auto-detection of bad numbers, CRM integration, and dialing multiple numbers at the same time.
- Telemarketing Services – Every bit of customer’s information is priceless for the telemarketing industry. The past purchases, frequency of purchases, complaints, inquiries, feedback cards, and order forms need to be updated from time to time to deliver a smooth service to customers. The feature of CRM integration fulfills the requirement and provides customer’s information right in front of the agent’s screen along with a script when they are talking to live customers.
- Professional Services – Evaluation of business strategies and productivity is extremely important from time to time. Hosted predictive dialer has lead management feature which evaluates the whole process of sales from the calls made to the leads generated. Call recording and call monitoring also give an idea of the shortcomings in achieving leads.
- Travel Agencies – CRM Integration feature of predictive dialer is very useful in travel agencies. It helps in keeping track of the old customers and the customers who are yet to be contacted. It helps the agent to develop a specific kind of pitch, according to the type of customer. The feature increases the chances of conversion of a prospect into a client.
- Banking and Finance Industry – Banking industry is required to communicate with their clients for information verification, deliver new plans and schemes, and provide personal loans, housing loans, and business loans. A predictive dialer software can handle this giant base of customers easily. It not only helps in generating new leads but also, increases customer retention ratio.
How Predictive Dialer increases the Sales of the business?
Most of the time on a sales call is spent dealing with voicemail messages, incorrect numbers, and busy tones. It not only wastes a large proportion of valuable time but also hampers productivity. A predictive dialer again brings a practical and useful solution to the problem. Here is how the dialer boosts the sales of the call center to a very large extent.
- A predictive dialer uses complex mathematical algorithms to identify the key time wasters or bad numbers and screen them out.
- The sales representative can directly talk to the real prospects as soon as the customer receives the call on the opposite side. When the conversation with the first recipient finishes, the agent is provided with the next answering recipient’s call.
- Since the agents are not wasting their time dealing with busy tones, voice mail messages, and other types of bad numbers, they are utilizing this time to converse with more prospects.
All in all, predictive dialer can add fuel to your business. If your target is call center business, then, it is an unavoidable part that accelerates the productivity of your business. Nowadays, it is not possible to think of a call center business without dialer functionality.
So, now, let’s have a quick recap of what we have learned so far.
A Quick Recap:
- A predictive dialer is a call automation software that dials multiple numbers at once, screen out unwanted numbers using complex algorithms, directs the call to the most suitable agent when a real human answers the phone and predicts the time when the call will be finished and automatically, dials another number.
- The dialer is a time saver software because earlier, the time was spent on dialing numbers, checking whether the number is productive or not, finally to land a automated answering machines with no lead generation at the end of the day. So, predictive dialer routes the agent directly to the productive calls.
- It is widely used in many industries like Telemarketing, banking, mortgage industries, travel industries, and debt settlement industries.
- The dialer system helps in closing more deals at the end of the day.
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