FREE TOOLKIT: The Ultimate Guide to Recession-Proofing Your Contact Center

Contact centers are well-versed in the ways that business can ebb and flow. Managers and contact center operators across industries understand the seasonal shifts of commerce like the backs of their hands. But knowing how to navigate those ups and downs doesn’t guarantee that, when a recession comes, those leaders will be ready with the perfect plan of action.

That’s because future-proofing a contact center against a recession means preparing your team to handle more than a difficult quarter or a momentary drop in revenue.

The last major downturn — the Great Recession of 2008 — lasted 18 months, but its effects lingered for much longer. No one knows exactly how the next one will play out. But we do know that the companies that look beyond the immediate economic moment will best set themselves up to survive — and even thrive — through tough times.

The Clouds of Recession Are Gathering

As 2022 unfolded, murmurs of a coming recession turned into shouts. Inflation was the leading red flag, and it reached a high point in June 2022, when the consumer price index rose by 9.1% compared to the previous June. That was the highest year-over-year increase since 1981. To aggressively fight these trends, the Federal Reserve increased interest rates by three-quarters of a point each in June and July.

This combination of inflation and aggressive rate hikes can shock consumers and shrink demand, setting the table for economic stagnation. And that’s just what we started to see as summer wore on. In late July, the U.S. Bureau of Economic Analysis announced that real gross domestic product (GDP) — a key indicator of an economy’s health and productivity — had declined for two quarters straight. 

While this drop in GDP may not be a sure sign that recession is upon us, it’s a significant warning sign for many economists. It’s impossible to say definitively where the U.S. economy will go over the next 12 to 24 months. And, while we can learn from what happened in the last recession, it won’t provide an exact road map for navigating the next one.

How to Recession-Proof Your Contact Center

Ultimately, the cost of inaction is far greater than the cost of making some mistakes in how you respond. Still, contact center leaders should be mindful about which path they choose. A recession can easily lure leadership down a dangerous road. 

So what are the right strategies for setting your contact center up for success during a recession? 

We're glad you asked. 

Our new Toolkit contains everything you need to survive – and even THRIVE – through a recession:

• Customer Service Skimpflation: The Impact on Sales, Retention, and Loyalty
• The Ultimate Guide to Recession-Proofing Your Contact Center
• 7 Contact Center Leaders on How to Thrive in a Recession
• A library of blog content packed with even more expert advice for contact centers

Download your free Recession-Proof Contact Center Toolkit Now!