Generating revenue from your call center

Call centers can generate significant revenue—up to 60 percent of total new sales for some telecom companies, for example. Yet companies in other sectors, such as retail banking, haven't kept pace. Some managers fear that their products are too complex for cross-selling or that customers looking for service will be put off by a sales pitch. Most of these companies simply don't realize the extent of their call centers' revenue potential.

But two cutting-edge North American banks have transformed their inbound customer service call centers into powerful engines for growth. These banks sell up to four core products, such as checking accounts or credit cards, for every 100 calls that their service agents handle. At this rate, we estimate, every five inbound call center agents can sell as many new products as one mature bank branch.

 
Improving the service-to-sales performance of a call center does bump up the demands on its everyday management and operations. But that is well worth the cost. For more on how to implement a service-to-sales strategy, read "Using call centers to boost revenue" (Web exclusive, May 2006).