In today's fast-paced world, businesses are always looking for ways to improve their customer service while reducing costs. One of the most effective ways to achieve this is an implementation of a Virtual Voice Agent. However, many companies hesitate to adopt AI technology due to the cost involved. But this decision can cost them more in the long run.
The average cost per call for a call center is around $2.50. This includes the cost of the agent's time, training, and equipment. With an AI Voice Agent, businesses can automate part of these calls and save significant money.
For example, let's say a company receives 1,000 calls per day and 500 calls are simple inquiries that can be handled by AI Agent. If each call costs $2.50, the business would be spending $1,250 per day on these calls alone. However, if they delegate those calls to AI, they could potentially save $625 per day or $228,125 per year.
But the benefits of a Virtual Agent don't stop there. By automating simple inquiries, companies can also increase their revenue by handling more incoming calls and starting to call customers at the rate of 200 calls per second. This means that businesses can potentially increase their revenue by reaching more customers with AI technology.
As an illustration, consider a business that manages 1,000 calls each day with a conversion rate of 20%. This implies that they are successfully converting 200 calls into sales daily. However, if they reduce long wait times and handle more calls, they may be able to convert up to 600 calls into sales per day. Moreover, by making 50,000 outbound calls, this business could potentially increase its customer base by 500 clients daily, even if the conversion rate is only 1%.
To sum up, although there may be initial expenses associated with adopting a Virtual Voice Agent, it's important for businesses to weigh the long-term advantages. By automating basic queries, companies can effectively cut down on call center expenditures and handle a greater volume of calls, which could lead to increased profits. The potential savings and revenue gains make it clear that the cost of not implementing a voice assistant could be much higher.
JIQ Conversational AI Platform to scale your business
JIQ Conversational AI Platform provides Voice Assistants powered by a unique combination of disruptive technologies to make customer interactions more efficient and satisfying. Get in touch with our team at business@jiq.ai or book a demo to learn more about your possibilities.
