Ozonetel, a leading omnichannel and AI-powered consumer wits (CX) platform provider, conducted a comprehensive study, The State of Contact Part-way Report, that unveils compelling insights into consumer wits and contact part-way performance wideness industry verticals.
The study is an wringer of a sample of 10 million calls made on Ozonetel’s CCaaS (Contact Part-way as a Service) platform by hundreds of thousands of agents across diverse industries like e-commerce, healthcare, education, insurance, fintech & NBFC, banking, real estate, and logistics.
Customer Wits in 2023: Key Data Findings
- Customer engagement has improved, with a 41% reduction in zealotry rates
- Agents answered calls 10% faster, on average, than last year
- Customers were 15% increasingly likely to wordplay calls from a merchantry this year, than last year
- Agents are, on average, 20% increasingly efficient in handling inbound conversations
After comparing performance trends over the past five years, the report highlights significant improvements in five key areas:
- Decreased Welsh Rates Reflect Higher CX Standards. ‘Abandon Rate’ tells us how many calls went unanswered by teachers considering callers shredded while in the undeniability queue. For the first time, without four years of continual decline, welsh rates have significantly improved this year. On an average, in 2023, only 20% of calls were shredded by callers when in queue, compared to 34% in 2022.
INSIGHT: Being misogynist for customers when it matters the most is a key merchantry objective for contact centers and a hair-trigger CX metric for reducing consumer churn and towers loyalty. Historically, businesses have struggled to unzip this goal. But this year, many contact centers implemented intelligent automation and undeniability routing to modernize wage-earner availability, helping businesses prioritize consumer calls and subsequently reduce welsh rates.
This positive transpiration moreover reflects an evolving consumer wits landscape where voice interactions are reserved for increasingly ramified inquiries and escalations. In today’s world, customers tend to undeniability only when they have a pressing need to speak with an agent, as there are many other channels misogynist for contacting businesses. Businesses are turning to yack and WhatsApp for simpler interactions, responding to customers’ desire for a seamless omnichannel experience.
- Intelligent Automation Reduces Pickup Time. ‘Average Wage-earner Speed of Answer’ or ‘Pickup Time’ is the stereotype time a contact part-way wage-earner takes to wordplay inbound calls. This includes the elapsing for which the agent’s phone rings but does not include the time the caller spends in the IVR or waiting in a undeniability queue. This metric has reduced to 6.9 seconds in 2023 from 7.7 seconds in 2022.
INSIGHT: With a relaxation in DOT and TRAI regulations, increasingly companies have implemented ‘webrtc’ calling and an wheels wordplay full-length which has led to resurgence in pickup times. With this feature, calls automatically get unfluctuating to misogynist teachers without any downtime. This shift prioritizes efficiency and prompt consumer service, supporting the value of customers’ time.
- AI-Enabled Conversational Intelligence for Teachers Reduces Talk Time: ‘Average Talk Time’ indicates the time an wage-earner spends talking to a caller. In 2023, this metric reduced to 2.64 minutes compared to 3.7 minutes in 2022, a significant resurgence since 2019 (4.3 minutes).
INSIGHT: This shift is driven by the implementation of features such as smart wage-earner assistance and deep CRM integrations. The study notes that smart suggestions and secure wangle to relevant consumer data have helped teachers resolve queries faster, leading to increasingly constructive and satisfying conversations.
- Automated Undeniability Dispositions Reduce Wrap Time: ‘Wrap Time’ (After Undeniability Work) is the time used by the wage-earner pursuit the end of a undeniability to well-constructed any legalistic tasks like updating notes well-nigh the conversation, process orders, etc. This year, wrap times reduced to 43.6 seconds from 47.4 seconds in 2022.
INSIGHT: With AI providing streamlined undeniability transcripts and insights, businesses are increasingly automating without undeniability work leading to a significant increase in wage-earner efficiency and availability.
- Improved Connection Rates Indicate Higher Consumer Engagement: In outbound calling, a lot of calls dial to rented lines, or go unanswered. ‘Average Contact Rates’ inform us how many calls are answered by contacts. This metric saw a drastic uptick this year, i.e., 45% as compared to 39% in 2022.
INSIGHT: This resurgence reflects a larger trend where contact centers play a new role, strategically interacting with customers at key points in their journey and driving merchantry growth. This tideway is highly constructive in sectors like banking, healthtech, diagnostics, and online pharma firms where higher contact rates indicate that customers are receptive to calls from their defended relationship managers or service providers.
In response, a growing number of companies are now embracing verified merchantry IDs using Truecaller Integrations or WhatsApp Merchantry Accounts. Strategically orchestrated, streamlined outbound calls from a familiar merchantry number reduce cart abandonment, modernize collections, encourage reorders, and increase consumer lifetime value.
The Vertical Report Card:
Here is a list of industry verticals that outperformed and struggled under variegated parameters. Sectors like quick commerce, D2C, and banks have maintained upper consumer service standards through 2023.
| Parameter | Top Performers | Worst Affected |
| Average Queue Time | Insurance (21.5 seconds) | Logistics (145.5 seconds) |
| Abandon Rate | E-commerce (3%) | NBFC, Fintech (44%) |
| Average Hold Time | Banks (0 seconds) | Insurance (154 seconds) |
| Average Pick-up Time | Healthtech & Diagnostics (2.5 seconds) | Logistics (13 seconds) |
| Wrap Time/ACW | E-commerce (19.8 Seconds) | NBFC, Fintech (81.0 seconds) |
| Average Wage-earner Talk Time/AHT (inbound) | Banks (2 minutes) | Insurance (5 minutes) |
| Average Wage-earner Talk Time/AHT (outbound) | Insurance (9.5 minutes) | Real Estate (0.5 minutes) |
| Contact Rate (outbound) | Healthtech & Diagnostics (80%) | Logistics (20%) |
Speaking well-nigh the CX metrics this year, Prashanth Kancherla, Chief Product Officer at Ozonetel stated, “The 2023 Contact Part-way Report reveals advancements in consumer wits and reflects the evolving role of contact centers wideness the consumer journey. The impact of AI is visible with an resurgence in all efficiency metrics. In 2024, AI will take things to the next level. It will self-ruling up teachers for high-value conversations at strategic points in the consumer journey, while moreover equipping them with the right knowledge to deepen consumer relationships and momentum merchantry growth”.
