Best Predictive Dialer Software

What is Predictive Dialer Software?

Predictive dialer software is an outbound calling system that automates the matching and dialing of telephone numbers. These systems are used for automatic calling, enabling call reps and agents to seamlessly track busy signals, missed calls, no response, etc. The concept of predictive dialing is not new. Predictive dialers have been around for 30 years and were initially utilized in the banking industry for debt collection purposes. 

Predictive dialers offer more than just automatic dialing. They can predict human actions to determine when they will be available to take the call. Besides, they can dial numerous numbers at the same time. The primary use of dialer software systems is to increase agent efficiency by utilizing getting in touch with the right lead at the right time.

How do Predictive Dialers Work?

Predictive automated dialers software programs that engage agents only on those calls that are answered by real people. Thus, agents don't need to listen to busy signals or voicemails. These systems make use of algorithms and mathematical formulas to predict factors like agent availability and average call answer time to adjust the dialing rate. These solutions also analyze unattended calls to recognize whether there is a need for a callback or not.

For instance, the manual dialing of a number takes 20-30 seconds, with only one out of four calls getting answered. These systems calculate the average dialing time and the number of calls it takes for a successful connection. This helps tele-callers and call agents spend time only on real human interactions, which saves time and stays more productive with their work.

Features of Predictive Dialer Software

A dialer software system provides an array of features that help to improve the efficiency of telemarketers and call center executives. These features include:

1. Answering Machine Detection

The Answering Machine Detection feature allows the agent to determine whether the call has been answered by a real human or an electronic device. It helps save time and connects agents to live calls only.

2. Call Recording

The call recording feature, as the name suggests, automatically records the caller-receiver interaction. This feature is crucial for organizations as it helps them monitor call recordings to identify pitch and quality issues and improve them accordingly.

3. Voicemail Message

The Voicemail Message feature allows agents to drop a pre-recorded voice message to the recipient's number. Predictive dialer systems feature AMD functionality that enables them to detect a voicemail message, followed by dropping a recorded message without missing an opportunity.

4. Call Back Scheduling and Reminders

This feature of predictive dialers allows agents to set a reminder to schedule a call. When the reminder time arrives, the agent will receive a popup on their screen, which enables them not to miss any calls.

5. Do Not Call Management

The DNC and DND list constitute numbers that do not want any calls from telemarketing companies. Predictive dialers have a DNC detection feature that helps agents identify which numbers to exclude from their calling list.

6. Filter-Based Calling

This feature allows agents and managers to segment their audience based on their location and time zone. Predictive dialers then analyze the filters and skip dialing those numbers that lie outside of the specified requirements.

7. Report & Analytics

Predictive dialer software's Report & Analytics feature enables organizations to improve their calling operations. It provides a comprehensive insight into the agent reports, call details, and filtered data to determine which agent is lacking in providing the desired customer experience.

8. Campaign Management

Dialer software systems allow call center managers to create multiple campaigns and manage, report, and update them as per requirements and objectives.

9. CRM Integration

Predictive dialer solutions can easily be integrated with CRM systems to monitor customer interactions and improve customer service.

Major Uses of Predictive Dialer Software

Almost all industries, irrespective of their operations, require getting in touch with their clients and customers on the phone. From BPOs to banks, all sectors use predictive dialers to improve the efficiency of their calling agents and make the most out of their calling efforts. Some major uses of predictive dialer software include:

• Telemarketing

• Customer service

• Debt collection

• Market research

• Lead generation

Predictive dialers do not come in handy for organizations that are selling high-ticket items, or those who want to offer a best-in-class consumer experience. The purpose of the Predictive Dialer solution is to connect call agents to as many people as possible in the minimum possible time frame. For companies trying to reach out to a lot of people with the same, medium-value solution, predictive dialers can do wonders. A study indicated that predictive dialers could enhance the productivity of call agents by up to 250%.

Benefits of Predictive Dialer Software

Predictive dialers improve the calling operations of an organization in many ways. Let's take a look at some key advantages of using a predictive dialer system for your business.

1. Intelligent Call Assigning

A predictive dialing system can assign calls to available agents without waiting for a particular agent to get free to take a call. It encourages all the agents in the team to be equally equipped and competent to attend any call.

2. Seamless Management and Organization of Client Database

Open-source predictive dialer software enables companies to manage and organize their client database effortlessly. It helps managers maintain important records without losing or misplacing them. The organization feature allows agents to derive a list of busy numbers, switched off, or did not answer calls.

3. Ideal For Both Inbound and Outbound Calls

The technology behind predictive dialing can help organizations associated with both inbound and outbound calling. It works on a combined system of predictive dialing and calls distribution that assigns calls to available agents.

4. Improved Agent Efficiency

The primary benefit of a Predictive dialer solution is to enhance the efficiency of call agents, teams, and the organization as a whole. It creates a competitive environment for all callers, allowing them to improve themselves and make the work challenging and competitive. Lastly, it improves the overall morale of departments and makes it easier to achieve targets.

5. Workload Management

Unbiased workload management is a major concern for customer care and telemarketing companies. A predictive dialer system assigns workload automatically without any human interference, which eliminates the chance of bias and prejudice.

6. Database Updates

A predictive dialer continuously updates the database by separating different filtered call lists. If required, agents can instantly access the data and place a call.

7. Performance Monitoring

As discussed before, these tools entail reporting features that help analyze the improved performance of agents. Managers can analyze this data to provide adequate training to improve the calling and handling skills of the agents.

8. Reduced Costs

One of the most overlooked advantages of a predictive dialer system is cost reduction, as companies don't need to invest in costly PBX systems or operators for manual maintenance of call logs and databases.

Limitations of Predictive Dialers

While predictive dialer systems are tried and tested to improve the efficiency and productivity of inbound and outbound call centers, the solution has some drawbacks, too. These systems are backed by mathematical algorithms, which are not always accurate. Here are a few limitations of using predictive dialer software.

1. Prediction Failure

The prediction algorithm does not guarantee 100% accuracy. Therefore, there can be cases where a new call is dialed, the receiver is on the call, but no agent is available to take the call. Or there can be instances where the system assigns a call to the dialer, but no one picks up, which again defeats the purpose of using a predictive dialer.

2. Not Ideal for Small Organizations

For a predictive dialer to work efficiently, a company should have at least ten to twelve agents. For smaller organizations in which a few people are making calls, a predictive dialer solution might not be a beneficial tool.

3. AMD Issues

The main purpose of predictive dialers is to recognize whether a call is answered by a human or electronic voice. To do so, predictive dialer systems rely on in-built voice recognition system techniques, which are, of course, not 100% accurate. The system can mistake electronic messages for real voice and assign calls to an agent, which will be a waste of time. Contrarily, it may mistake a human voice for a pre-recorded message and disconnect call, which might result in the loss of a potential customer.

The Opportunities for Predictive Dialer Software

Predictive dialer software is a part of the broader contact center software that is used by enterprises to contact their customers. These solutions enable organizations to enhance their relationship with their customers and provide them excellent communication and customer experience across various channels.

In 2018, the market was valued at USD 17.7 billion and was expected to increase to USD 35.3 billion by 2023, with a CAGR of 14.8 percent.

Let's take a look at some market opportunities in the predictive software sector.

• The gradual rise of this market is attributed to the increased adoption of omnichannel communication and dynamic customer requirements.

• The retail and consumer goods vertical is expected to grow rapidly, which will create a plethora of opportunities for the predictive dialer software market.

• Emerging regions such as Asia and South America offer various unexplored opportunities as large companies are contemplating expanding their market outreach.

How is Predictive Dialer Software the Backbone of Goods Sales Teams?

Selling is difficult, and it has always been that way. And with consumers getting smarter, the margin for error between a lost and won deal has shrunk even more. Sales reps are always occupied with tasks, with one seeming more urgent than the other. Amid all this hustle and bustle, a predictive dialer system can turn out to be an excellent tool for increasing the performance of your sales team.

Here's how it can be added to the sales department of your business.

• It saves time in choosing which prospect to call and which one to skip.

• It automatically logs calls and saves notes when the agent is on the call.

• It enhances agent talk time and promotes more purposeful conversations.

• It offers call monitoring solutions, reporting, and analytics features to improve the performance of each call agent.

• It reduces human error by automating manual data entry; inaccurate information can lead to a bad follow-up, and eventually, a lost deal.

How Does Predictive Dialer Software Help Increase ROI?

The ultimate aim of any business on this planet is to achieve an increased ROI. Everyone wants to spend less and earn more; however, it is not always the case, especially when it comes to sales teams. Predictive dialer solutions can reduce customer acquisition costs and increase your business' ROI, as discussed below.

1. Time Management

It features an in-built algorithm that uses a statistical approach to predict when agents should call clients or customers, thereby saving an agent's time and improving the organization's time management.

2. Improved Productivity

Telemarketing departments often face productivity-related challenges. The automatic dialing system mechanism of productive dialers ensures agents only attend to answered calls, significantly adding to their productivity.

3. Feedback

Predictive dialers give managers real-time feedback on the calls made by agents, which helps them analyze the performance and make necessary improvements.

4. Motivate Agents

A dialer software system creates a competitive environment for all agents, which motivates them to work hard and keep their success rates high.

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