Definition: Abandonment Rate refers to the percentage of customers waiting in a call or chat queue that terminates their session before connecting with a representative. This is typically a result of the longer than expected wait times, customer errors, or customers finding a solution via an alternative support medium. Businesses may choose to treat differently, short abandonment, which is those that happen before a certain time threshold, or abandonment associated with system errors.
Calculation: ((Total Abandonments – Excluded Abandonments)/ (Total Contacts Offered))*100
Benchmark: Less than 5% abandonment rate is considered acceptable in some sectors.
Importance: Abandonment that does not result in the customer reattempting at a later time for assistance is a missed business opportunity and a potential loss of the customer.
Strategies for Lowering Abandonment Rates:
- Optimize Call Routing: Efficient call routing can reduce navigation time in the IVR and wait times in the queue and therefore the likelihood of customers abandoning their interactions.
- Provide Self-Service Options: Self-service options empower customers to resolve simple issues on their own, reducing the need to wait in queues and freeing up representatives to handle more complex issues.
- Monitor Queue Wait Times: Continuously monitor queue wait times and adjust staffing levels or call routing rules in real-time to prevent excessively long wait times that can lead to customer frustration and abandonment.
- Offer Call-Back Solutions: Provide customers with the option to request a call-back instead of waiting on hold. This allows them to maintain their place in the queue and receive a call from an agent when available. Call-back solutions enhance customer convenience and reduce perceived wait times.
- Manage Service Levels: Set realistic service level objectives and ensure that agents are scheduled accordingly to meet these objectives. Strive to answer calls within an acceptable time frame to minimize abandonment.
- Improve Agent Efficiency: Lowering AHT and increasing contact handling efficiency significantly lowers potential customer wait times.
Alternate Terms: Abandon, Abandonment Percentage