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Contact centres to invest more in customer retention software

Contact centres to invest more in customer retention software

Slow economy takes focus off customer wins only, Datamonitor says

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Enterprise contact centres will invest more in customer relationship management in a bid to improve customer retention, analyst firm Datamonitor has predicted.

The sluggish economy and fears of a recession will inevitably cause lower consumer spending levels and lagging business performance, it said. This forced companies to make extra efforts to retain current customers, and invest in integrated solutions that will improve their ability to provide quality customer service, Datamonitor explained.

The global market for contact centre CRM licenses and services was almost $2 billion in 2007 and investment in CRM solutions in contact centres will increase at a compounded annual growth rate of 10 percent until 2013, it said.

“Enterprises’ leading strategic goals are cost reduction and customer retention”, said Aphrodite Brinsmead, analyst at Datamonitor and author of the report. “In order to improve customer service and develop better agent-customer relationships, there is a demand for better user interfaces and for customer services agents to have more visibility into customer information.”

The report also highlighted that the use of high-level analytics with CRM is increasing in contact centres, as management are under constant pressure to optimise operations while uncovering trends within customer data.

Brinsmead concluded: “The contact centre will become more streamlined with the rest of the enterprise over the next few years as companies look to reassess existing assets and ‘do more with less.’ CRM and customer analytics will be important in bringing about this initiative.”

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