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Objective
To compare the costs and benefits of implementing our AI Voice Agent solution versus employing three full-time staff members dedicated to handling customer calls at Bike Scooter City (BSC). This simulation will also consider the potential revenue loss due to missed calls during busy periods and after business hours.
Assumptions and Data
- Staffing Costs:
- Number of Receptionists: 3 full-time staff members.
- Median Annual Salary per Receptionist in Brisbane: $50,000 (approximate industry standard).
- Additional Costs: Superannuation (10%), payroll taxes, benefits (estimated at 20% of salary).
- Total Additional Costs per Employee: 30% of salary.
- AI Voice Agent Costs:
- Monthly Retainer Fee: $500 + GST.
- Voice Agent Usage Charge: $0.75 per minute.
- Text AI Interaction Charge: $0.50 per interaction (not included in this simulation as we’re focusing on voice calls).
- Average Call Duration: 3 minutes.
- Standard Call Volume: 100 calls per day.
- Busy Period Call Volume: 150 calls per day.
- Days per Month: 30.
- Additional Factors:
- After-Hours Calls: Estimated at 20% additional calls outside business hours.
- Potential Missed Calls During Business Hours: Due to staff being busy, estimated at 10% of calls.
- Conversion Rate: 10% of calls lead to a sale.
- Average Revenue per Sale: $100.
Cost Analysis
1. Cost of Employing Three Full-Time Receptionists
- Annual Salary per Receptionist: $50,000.
- Total Base Salary for Three Receptionists: 3 x $50,000 = $150,000.
- Total Additional Costs (30%): $150,000 x 30% = $45,000.
- Total Annual Staffing Cost: $150,000 + $45,000 = $195,000.
2. Cost of AI Voice Agent Solution
Standard Period Costs:
- Monthly Call Volume: 100 calls/day x 3 minutes x 30 days = 9,000 minutes.
- Monthly Usage Cost: 9,000 minutes x $0.75/minute = $6,750.
- Monthly Retainer Fee: $500.
- Total Monthly Cost: $6,750 + $500 = $7,250 + GST.
- Annual Cost: $7,250 x 12 = $87,000 + GST.
Busy Period Costs:
- Monthly Call Volume: 150 calls/day x 3 minutes x 30 days = 13,500 minutes.
- Monthly Usage Cost: 13,500 minutes x $0.75/minute = $10,125.
- Monthly Retainer Fee: $500.
- Total Monthly Cost: $10,125 + $500 = $10,625 + GST.
- Annualized Busy Period Cost (assuming busy period lasts 3 months): $10,625 x 3 = $31,875 + GST.
Annual AI Voice Agent Cost:
- Standard Period (9 months): $7,250 x 9 = $65,250 + GST.
- Busy Period (3 months): $10,625 x 3 = $31,875 + GST.
- Total Annual Cost: $65,250 + $31,875 = $97,125 + GST.
Project
Custom Build AI Voice Agent
Client
Bike Scooter City
What We Will Do
Fine-tuned LLM model by advanced prompt engineering, speech-to-text, text-to-LLM, Text-to-speech stack implementation, Client’s AI data analytics dashboard, Knowledge base build and optimization.
Revenue Impact Calculator Due to Missed Calls
Return on Investment (ROI) Simulation
AI Voice Agent ROI Calculator for Bike Scooter City
ROI
Total Cost Comparison
We use for this simulation only 3 person human team working on customer support as a calculation base.
1. Total Cost with Staff Receptionists:
- Annual Staffing Cost: $195,000.
- Annual Lost Revenue Due to Missed Calls: $108,000.
- Total Annual Cost: $195,000 + $108,000 = $303,000.
2. Total Cost with AI Voice Agent:
- Annual AI Voice Agent Cost: $97,125 + GST.
- Potential Additional Revenue: +$108,000.
- Net Cost After Additional Revenue: $97,125 – $108,000 = -$10,875 + GST (Net gain).
Return on Investment Calculation
Savings on Staffing Costs:
- Staffing Cost: $195,000.
- AI Voice Agent Cost: $97,125.
- Annual Savings: $195,000 – $97,125 = $97,875.
Additional Revenue from Captured Calls:
- Potential Annual Revenue: $108,000.
Total Financial Benefit:
- Savings + Additional Revenue: $97,875 + $108,000 = $205,875.
ROI Percentage:
- Total Investment: $97,125.
- Total Return: $205,875.
- ROI: ($205,875 / $97,125) x 100% = 212%.
Additional Benefits of AI Voice Agent
- 24/7 Availability: Provides customer support outside regular business hours, enhancing customer satisfaction.
- Scalability: Can handle increased call volumes without additional costs for hiring more staff.
- Consistency: Delivers consistent information and customer experience.
- Multi-Tasking: Capable of handling multiple calls simultaneously, reducing wait times.
- Data Collection: Provides valuable insights from customer interactions for business improvements.
- No Downtime: Eliminates issues related to staff absence, breaks, or turnover.
Conclusion
Implementing the AI Voice Agent solution presents significant financial and operational advantages for Bike Scooter City:
- Cost Savings: An estimated annual savings of $97,875 in staffing costs.
- Increased Revenue: Potential to recover $108,000 per year from previously missed calls.
- High ROI: A return on investment of 212%, indicating a highly beneficial financial decision.
- Enhanced Customer Experience: Improved accessibility and reduced wait times lead to higher customer satisfaction.
- Operational Efficiency: Streamlines customer service operations, allowing staff to focus on complex tasks and in-person customers.
Revenue Impact Due to Missed Calls
1. Missed Calls with Staff Receptionists
During Business Hours:
- Total Calls: 100 calls/day.
- Missed Calls Due to Staff Being Busy (10%): 100 x 10% = 10 calls/day.
- Monthly Missed Calls: 10 calls/day x 30 days = 300 calls/month.
After Business Hours:
- Additional Calls: 100 calls/day x 20% = 20 calls/day.
- Monthly After-Hours Calls: 20 calls/day x 30 days = 600 calls/month.
Total Missed Calls per Month: 300 + 600 = 900 calls/month.
Potential Lost Revenue:
- Conversion Rate: 10%.
- Number of Lost Sales: 900 calls x 10% = 90 sales/month.
- Average Revenue per Sale: $100.
- Monthly Lost Revenue: 90 sales x $100 = $9,000.
- Annual Lost Revenue: $9,000 x 12 = $108,000.
2. AI Voice Agent Handling Missed Calls
- AI Agents Available 24/7: Capable of handling all calls, including after-hours and simultaneous calls.
- No Missed Calls: Potentially eliminates the 900 missed calls per month.
- Potential Additional Revenue: $108,000 per year.
