October 31, 2014

Contact Center Economics 101: Nobel Prize for Economics - The Link Between Customer Contact and Economic Growth

Call Center Economics 101By Bruce BelfioreSenior Research Executive and CEO, BenchmarkPortal

Ok.  Here’s my bid for a Nobel.  One of the macro questions for the customer contact industry is: “Does a robust customer contact industry correlate with higher economic growth?”

The implications of this question are enormous.  If such a relationship can be shown to exist, then governments that want to foster economic growth should actively encourage the growth of the customer contact industry within their borders.

As we grow our database of contact center performance metrics here at BenchmarkPortal, we look forward to the day that we will have enough data to prove a correlation between the state of the contact center industry and GDP growth in countries throughout the world.  However, there are already circumstantial indications that this relationship exists, and governments would do well to consider their policies even now.

I note as well that contact centers represent clean, non-polluting operations that involve “knowledge worker” skills at a variety of levels.  Contact centers are often the first point of entry for workers who later are promoted into other parts of the enterprise - - but hopefully retain their appreciation for customer service and bring their experience with them as they advance professionally.

Estimates regarding the number of people who work in contact centers in advanced economies is astounding. It was estimated that about 3% of the working population in the United Kingdom is employed in contact centers, while the estimated percentage is over 3% in the United States and Canada.  These economies have been among the most resilient over the last 20 years, while advanced, G7 economies like Japan and Italy, which have much less robust customer contact sectors, have languished.

My hypothesis is that consumers the world over are more likely to trust and buy a product or service when:

Click here to continue reading this article: http://www.benchmarkportal.com/call-center-newsresources/news-articles/2014/10/contact-center-economics-101-nobel-prize-economics-l

No comments:

Post a Comment