Case Study: Revenue Generation

Combination of Upselling and Analytics Yields $50M in Additional Sales

HGS Philippines team ups the upgrades on every call for payment card company

Overview

For this financial services client, revenue generation depends on the products and offers a sales agent can close with a customer. By combining our voice agents’ skillful upselling strategies with the strategic use of analytics, the client’s revenue has tripled expectations.

$50MAnnual revenue generated by sales initiatives

86.3%FCR using call speech analytics

+70%NPS achieved for best-in-class CX

Client background

Since 2001, HGS has provided English voice care, retention, and sales for this global financial services client. Our partnership has grown both in size and scope over 20+ years, with a current team of 600+ HGS agents offering 24/7/365 operations from the U.S. and the Philippines. The sales team responsible for this line of business is located in Manila and is made up of 450+ FTE.

Business objectives

The primary focus for our sales agents is to sell more product upgrades, companion cards, and personal loans, categorized as high-revenue-generating offers. Signing up a customer with a platinum card, for example, will generate more revenue than a line of credit increase. Coaches encourage agents to:

Convert every inbound call to revenue-generating opportunity, and
Profile eligible customers and sell applicable products and offers.

Sales Opportunities

Product upgrades
Companion cards
Supplementary cards
Personal loans
Extended payment options
Line of credit increases
Special spending offers

Solution strategy

The plan was to convert the cost center to a revenue center. To do this, we needed to:

Study factors and agent characteristics that positively impact NPS
Use speech analytics to mine call data
Monitor each agent’s performance with a scorecard to help improve FCR

Analytics

Gain insights into customer issues.

Results

Not only have we generated $50M in annual revenue due to our cross-sell and upsell initiatives, but we’ve also boosted first call resolution (FCR) rates with a robust call mining program. The client has consistently won JD Power awards aided by our skilled teams, leading to 70% and above NPS scores for best-in-class CX.

$50M Annual revenue generated by cross-sell and upsell initiatives (3X over invoice)

86.3% FCR with call mining program, using call speech analytics and an agent scorecard

+70% NPS achieved for best-in-class CX; we’ve also helped client win JD Power awards consistently

18% Cost savings due to 11% reduced callbacks and 24-second decrease in AHT

$2.7M Annual spend by client on rewards and value generation specialists

100% Calls analyzed daily through speech engines to gauge customer sentiments, volume trends, compliance, and productivity

Analytics

Improve future interactions by extracting valuable information.

Global locations

USA • UK • Canada • India • Philippines • Jamaica • Australia • Colombia

Global Headquarters: GHS, Bommanahalli, Hosur Road, Bengaluru – 560068

Registered Office: Tower C (1st floor), Plot C-21, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400 051

CIN: L92199MH1995PLC084610

Online Dispute Resolution (ODR)