The American economy is officially in a recession. With today\u2019s <\/span>report from the Bureau of Economic Activity<\/span><\/a> showing a second straight quarter of GDP contraction, there\u2019s now clear evidence that most companies will face a challenging climate for the foreseeable future.<\/span><\/p>\n But it\u2019s not all doom and gloom. Some savvy brands might even prosper during a broad economic downturn. <\/span>Replicant\u2019s Harry Chang<\/span><\/a> has been exploring the impact of a recession on contact centers in a series of reports, providing insight into how customer service operations can withstand periods of economic uncertainty.\u00a0<\/span><\/p>\n Recession resources include strategies from contact center leaders \u2013 many of whom have prepared for uncertainty by deploying Contact Center Automation in some capacity.<\/p>\n \u00a0\u201cIf there was to be an economic downturn and budgets happened to be cut, we are prepared for them and would still be able to fulfill our responsibilities to our customers partly due to the ROI we’ve already seen from implementing Replicant.\u201d<\/span><\/p>\n Lisa Rivier, Senior Director of Operations and Strategy, AAA<\/span><\/p><\/blockquote>\n Replicant has also produced <\/span>a definitive guide<\/span><\/a> on how customer service can thrive in an unpredictable economy and will be <\/span>hosting a webinar on August 24<\/span><\/a> featuring industry leaders speaking about challenges \u2013 and opportunities \u2013 related to the recession.\u00a0<\/span><\/p>\n While the pandemic, \u201c<\/span>Great Resignation<\/span><\/a>\u201d and supply chain disruptions presented new challenges for businesses, there\u2019s precedent leaders can learn from regarding the economic instability of a recession. By understanding and responding to these trends, contact center leaders can still position their operations for success and even growth.<\/span> While consumer spending will continue to slow during the downturn, Chang presents data from the 2009 recession showing how loyalty created by successful customer experience practices can drive resilience. Past recession cycles have also shown how companies scrutinize investments more as budgets tighten, but innovative leaders have often used prolonged periods of economic unease to seek creative solutions \u2013 <\/span>including automation<\/span><\/a>, which has become a viable mainstream tool to drive savings and enhance the customer service experience.<\/span><\/p>\n So how does contact center automation aid in future-proofing an operation faced with uncertain economic conditions?\u00a0<\/span><\/p>\n When an organization relies on automation <\/span>to reduce mundane and repetitive calls<\/span><\/a>, agent retention actually increases. Employees become empowered to focus on more satisfying work <\/span>addressing customers\u2019 complex and nuanced requests<\/span><\/a>. By reducing agent churn, <\/span>costs are dramatically reduced<\/span><\/a> associated with hiring and training new staffers.<\/span><\/p>\n Beyond ensuring agent capacity, investing in new scalable efficiency opportunities <\/span>like automation<\/span><\/a> can also be vital for navigating significant shifts in customer demand. By taking steps to assure customers that their needs remain a priority, organizations can sustain customer loyalty and satisfaction by providing reliable service during unreliable times.<\/span><\/p>\n The Great Recession of 2009 forced many companies to make changes just to survive. But some innovative brands were able to maintain growth and even prosper during the last extended period of a tumultuous economy, providing lessons that can help businesses navigate this latest period of uncertainty.\u00a0<\/span><\/p>\n This piece focuses on keys to a recession-proof brand. Chang identifies five essential priorities that every company should consider to sustain growth despite a bleak economic forecast.\u00a0<\/span><\/p>\n Technological innovation <\/span>and leaning on data<\/span><\/a> to understand how recession forces impact a business are important aspects of this conversation, Chang writes, and automation provides \u201cflexibility and agility built for today\u2019s world.\u201d But emphasizing customer satisfaction and developing brand loyalty are also <\/span>crucial for companies<\/span><\/a> to consider during a recession.\u00a0<\/span><\/p>\nHow Leaders Can Prepare for an Economic Slowdown<\/b><\/a><\/h3>\n
\n<\/span><\/p>\nContact Center Automation: Built to Withstand<\/b><\/a><\/h3>\n
Brands Can Thrive \u2013 Even Amid Economic Uncertainty<\/b><\/a><\/h3>\n