Developed and first introduced in 2003 by Fred Reicheld, Bain and Company and Satmetrix, Net Promoter Score® (NPS1) has become somewhat of the definitive metric for gauging customer satisfaction and loyalty. Consistently in use by over 66% of Fortune 1000 companies and tens of thousands of customer-centric organizations worldwide, NPS has certainly had a profound influence on global marketing, business strategies, tactics and techniques. But that said, it begs the question: Is NPS still the most effective tool to measure true customer satisfaction and loyalty, accurately and reliably?
In its most basic form, the NPS methodology or system simply poses customers with an almost universally standardized question: “How likely is it that you would recommend [Company, Organization, Brand, Product or Service] to a friend or colleague?” Customers are asked to score their sentiment relating to this question on a scale of 0 to 10 with 0= Not likely at all and 10= Very likely.
Respondents scoring either 9 or 10 are categorized as “Promotors.” These are fiercely loyal and enthusiastic customers; they fuel growth by referring others and by increasing their own usage of the product or service, as well as taking up many of the company’s cross-sell and up-sell offerings. Promoters are the epitome of the Customer Advocate.
Respondents returning a 7 or 8 score are categorized as “Passives.” These are the ambivalent customers. They are basically satisfied but they are also unenthusiastic and can be easily swayed by a competitive offering, and in all probability, they will ‘jump ship’ in a heartbeat, should they encounter the slightest negative experience with the organization or with its products or services.
“Detractors”; those respondents scoring 0 to 6 are the distinctly unhappy customers who can wreak havoc and severely damage the organization and its brands, products, or services. Detractors are dangerous to the organization. Their negativity, spurred-on by word-of-mouth and (Heaven forbid!) Social Media can seriously impede growth and profitability.
To arrive at a Net Promoter Score or index2, one simply takes the total of all “Promoters” and subtracts the “Detractors.” For purposes of NPS, “Passives” are deliberately excluded from the equation.
In a nut-shell, NPS is rather like the doctor’s finger on the pulse of the patient. When deployed systematically, diligently and supported by the most appropriate technologies and analytical techniques, NPS provides the organization with an accurate picture of prevailing customer loyalty, and accurate feedback relating to reasons why customers may be unhappy (and therefore disloyal or vulnerable). Appropriate analytics will also provide exceptionally valuable insights into the root cause of such dissatisfaction. This information provides the organization with the ability to craft appropriate solutions rapidly. These might include process re-engineering, product or service refinements, and training or up-skilling of customer-facing staff.
It stands to reason that an organization’s potential for success is largely dependent on finding and managing the successful balance of “Promoters” and “Detractors.”
At the positive end of the scale, a high NPS is a clear indicator of satisfied, loyal customers; those who fuel economic benefits such as the reduction in the cost of new customer acquisition, reduced cost-to-serve, increased spend, increased take-up of up-sell and cross-sell offerings, and ultimately, predictable Customer Lifetime Value (CLV). These positive economic factors make music in the boardroom!
On the other hand, low NPS gets the economic alarm bells ringing! From a marketing perspective, acquisition of new customers becomes significantly more costly, as does the increased spend necessary to eke out increased market share and incremental customer purchasing. Servicing dissatisfied or unhappy customers requires far more infrastructure, management, and customer-facing headcount. These factors represent serious economic penalties and threats to the organization.
While NPS will definitely provide the organization with an accurate representation of customer perceptions and behavior, the true value of this metric is realized when a number of other metrics are overlaid in a data matrix.
A hybrid Customer Loyalty Index (CLI) with NPS as the base, will incorporate another measure to provide additional insights into customer propensity to repurchase and the probability of take-up of up-sell and cross-sell offerings, as well as clear indicators of Customer Lifetime Value. In this derivative of NPS, probe questions could well include: “How likely are you to buy from us again in the future?” or “How likely are you to try out other of our products or service?”
Similarly, the well-proven Customer Satisfaction index (CSAT) is another valuable contributor to the overall NPS-based customer experience (Cx) matrix, as is data reflecting Customer Engagement. (Activity Time, Visit Frequency, Core User Actions, etc.)
Rapidly coming to the forefront in the art and science of Customer management or Customer Experience (Cx), is what has become known as the NetEasy Score3 (NES). Simply put, the NetEasy Score measures the ease (or the effort) required by customers to do business with the organization; to have problems resolved; to obtain required information or actions or to achieve the satisfactory outcome to any interaction.
In a recent global survey conducted by UK-based CallCentreHelper, “74% of customers surveyed stated that they would do repeat business with the company if their experience is easy”. In today’s fast-paced, highly mobile customer environment, where instant gratification and immediacy are watch-words, “Easy” is certainly the key to significantly increased loyalty. This factor alone is an incredibly important strategic consideration for professionals involved or influencing the design or deployment of digital channels, platforms, and interfaces. Unless the user finds it quick and easy, the solution offering will almost certainly be rejected outright.
The boardroom desperately needs to know the good news about long-term, highly predictable increased customer spending; the much-hallowed Customer Lifetime Value index4. And there’s a great deal more to that particular metric than meets the eye. The size of the customer base, the share of the market, the rate of growth, customer retention statistics and the predictable Lifetime Value will have a profound influence on factors such a stock value, executive remuneration and bonuses. Not to mention how these factors influence acquisitions and mergers.
It will be appreciated that in order to gather accurate, reliable and meaningful NPS and related data, it is imperative that appropriate strategies, processes and systems are designed and deployed in a manner that will be attractive and enthusiastically embraced by a significant percentage of the organization’s customer base; and this on an on-going basis.
During the past few decades Interactive Voice Response (IVR) technologies have been extensively used as one of the primary methods for gathering NPS and related customer sentiments. Where this technique has been remarkably successful has been a combination of astute and mature strategic thinking, (with strong customer centricity) dictating systems design, in that the entire process of engaging with customers is fast, intuitive, and exceptionally easy. In cases of a combination of IVR (or ACD, auto attendant or routing engines) and live agent service, successful implementation is a matter of well-designed call flows, appropriate technologies and exceptionally good agent training.
The fairly recent introduction of visual IVR technology is having a significant impact on Customer Experience management techniques throughout the world. Typical IVR’s aren’t a lot of fun. Often they are plagued with complex and confusing menu trees and long-winded and ambiguous instruction and selection options. It’s not at all surprising that the vast majority of customers regard IVR systems with contempt. Is there a solution? Yes, indeed there is. Enter visual IVR.
Scanning, swiping and clicking a smartphone screen is infinitely faster, more intuitive, and easier than listening to instructions. Visual IVR lets customers quickly and easily select the appropriate information or routing options by simple point and click response; for example, to a specific department, business unit, suitably skilled agent or to a NPS question. NPS and all related customer data perception probes just go a whole lot easier and they are much more reliable.
When it comes to NPS, Visual IVR has the ability to persuade more customers to become promoters and provides organizations with the ability to continuously measure this metric on a more frequent and accurate basis.
1 Net Promoter Score ® is a customer loyalty metric developed by Fred Reichheld, Bain & Company and Satnmetrix. Net Promoter Score is a registered Trade Mark. 2 https://www.surveymonkey.com/mp/net-promoter-score-calculation/ 3 https://www.callcentrehelper.com/neteasy-the-latest-metric-for-your-contact-centre-48492.htm 4 http://www.customerlifetimevalue.co/
Publish Date: January 31, 2017 5:00 AM
CardBoard: Real-time data, shows the most important KPI’s in your Contact Center.
Built for data | Designed for business | Empowers teams
|2.)||Acqueon Technologies Inc.|
Acqueon's AI-driven conversational engagement software enables sales, marketing and service organizations to engage in emotionally connected dialogs with customers via their channel of choice for significantly improved results. The Acqueon suite adds multichannel campaign management, contact center analytics, desktop, and CRM connectors for your contact center software of choice, including Amazon Connect, Cisco, Nice inContact, and Twilio. Acqueon conversational engagement software leverages the Acqueon IQ platform to aggregate data from the various applications, assemble rich customer contexts, and drive next-best-action using powerful statistical and predictive models.
PH: +1 888-946-6878
|3.)||Call Tracking Metrics|
Automate insights from all your customer communications
There's no better way to get to know your customer than through their own communications with your brand. Gain a strategic advantage and a thorough understanding of your customer's full journey with a complete suite of conversation intelligence tools and features. Measure customer sentiment, automatically identify and score qualified conversations, and give strategists everything they need to knock their campaigns out of the park.
Use conversation analytics to:
• Build your ideal customer profile
• Optimize your sales and customer service processes
• Maximize your resources to focus on quality conversations
• Identify trends and customer sentiment in real-time
CallFinder speech analytics
CallFinder® is a leading provider of cloud-based SaaS speech analytics, automated call scoring, and speech-to-text transcription technology with sentiment analysis. Our easy-to-use solution is designed to help businesses and contact centers automate quality monitoring to improve agent performance and provide a superior customer experience.
With CallFinder, you get…
100% visibility into agent-customer interactions
100% monitoring of interactions, up from only 5-10%
Scalability of QA reviews with the same size QA team
CallFinder isn’t just your average speech analytics provider. When you work with us, you get unparalleled, continuous support through our MyAnalyst managed client servic...
CCube for Business Intelligence
CCube by Comsys is a business intelligence application, developed for enterprise contact centers. It delivers powerful, and dynamic reporting that enable managers to gain insight into their business. CCube is natively compatible with Aspect Unified IP and Cisco Unified Contact Center (UCCE/UCCX) platforms
Comsys is a provider of οmnichannel customer engagement solutions that assist companies around the world in delivering unique customer experiences. For the last 15 years, Comsys designs and implements complex projects for clients from the outsourcing, financial services, telecommunications, and retail sectors. Comsys enjoys strategic partnerships with technology vendors like Cisco®, Aspect...
CROSSCRM.CX - CRM Dataviz Module
CROSS-CRM manages daily interconnection with your CRM tools to centralize data and analyse CX on all channels, and is able to provide deep analytics insights.
All the Kpi’S are here for precise control of your Customer Relationship : Interactions - Quality - Satisfaction - Campains forecast MyClient
Filters, Data Extraction, Custom Views, dates sheets, email subscriptions, xls Extracts, images, pdf
PLUS ! Automated extracts
for integration to third party applications.
Daisee builds technology that empowers people to solve problems by making interactions simple and smart so they can have a more significant impact, be more productive and be better at what they do. We believe incremental improvements carry huge potency and provide exponentially greater change for the better.
Genesys customers can now automate risk and quality management using Daisee’s speech and sentiment analytics and remediation workflow software. Daisee helps improve customer experience, ensure regulatory compliance, identify missed commercial opportunities & training requirements as well as provide valuable insights back to the business directly from the frontline – the true voice-of-...
Powered by AI, DialogTech’s DialogAnalytics analyzes conversations to provide marketing and sales teams a wealth of insights for smarter optimizations. With the power of conversation intelligence, you can learn which channels, ads, keywords, and webpages drive the best sales calls, if the caller converted, and more.
AI analyzes how calls are handled at locations and call centers to detect issues that negatively impact ROI. See what percentage of calls go unanswered and who is best (and worst) at converting callers to appointments and customers. Get email alerts when phone leads are mishandled at locations so those leads can be called back right away.
With DialogAnalytics, you can get a...
eGain Analytics makes it easy to measure, analyze and refine your contact center operations, knowledge and web customer experience. Create informative reports, charts and dashboards effortlessly. Slice-&-dice the data in any number of ways and use it to manage the business effectively.
1. Operational Analytics™ empowers the business to measure and manage the call center directly and without IT involvement.
2. Knowledge Analytics™ provides insight for eGain’s knowledge and AI applications.
3. Digital Analytics™ measures contact center performance within eGain’s digital channel applications.
4. Journey Analytics™ captures customer behavior on the website—identify the churn points and cre...
ethosAnalytics leverages data to provide business intelligence to enhance the customer experience and beyond. The analytics dashboards are customized based on client needs. ethosAnalytics enables data-driven decisions in seconds or minutes - not days or weeks.
|11.)||Lieber & Associates|
Contact center Analytics and Metrics
Lieber & Associates provides services to develop, interpret, and improve contact center metrics and analytics. The firm's experience spans forecasting, customer service, order-taking, lead-qualification, sales, segmentation, media-source-tracking, and testing design. L&A's president pioneered segmentation for telephone scripts and the tri-level service level metric. He brings broad analytics experience to contact centers.
Turn business insights into actionable intelligence. Noble’s IQsolutions provide you with rich and robust customer data that can transform your business. Automate decision making and campaign management and refine the quality of interactions with precision and efficiency. We have developed proprietary and patented tools to help you make sense of data on your current operations and then help you make strategic decisions to improve performance and efficiency. Identify who your best customers and prospects are and the ideal methods to reach them. Understand what types of campaigns work best for your business and how to optimize underperforming campaigns. And nake real-time decisions rather than looking back to see what went wrong.
PH: +61 (0) 3.9008.1700
SIP-Trunk Demarc Monitor
Analyzes SIP signalling and RTP audio stream of every call passing through the network demarcation point. Provide a real time 24/7/365 network baseline database that contains the IP bandwidth, call traffic of up to 128 voice groups, Call Detail Record (CDR), call blockage and MOS voice quality. All information are displayed in SIP-Trunk dashboards and are used in many applications, such as Telco collaboration, UC/CC analytics, Work Force Optimization (WFO) and caller identification.
QPC provides realtime unstructured and structured data analytics solutions and services to contact centres globally.
We provide a complete end-to-end customer integrated offering powered by a Multichannel Intelligence Gateway which collects and inter-relates all customer interactions, from each and every customer contact across an entire contact centre ecosystem, all in real-time.
We also provide solutions for conversational and interaction analytics with solutions from our specialist portfolio.
Tethr is a cloud-based conversation intelligence platform that combines AI, machine learning and over a decade of customer experience and sales best-practice research to surface contextual insights from phone calls, chats, emails and other customer interactions. Companies use Tethr to turn large amounts of unstructured voice of customer conversation data into insights they can deploy to improve their customer experience.
Imagine for a moment that you are a call center manager responsible for generating revenue through signing new customers or up-selling to existing ones. Imagine that your KPI is telling you you have an abandonment rate of 5% and someone comes along and says "No, your abandonment rate or dropped call rate is 13%." .." How do I know? AcutuCall VoIP software application can show you the dropped call data including, originating number and whether it was a network or equipment failure." Now imagine you can see your calls in progress on a mobile app, take your dashboard where ever you go! "What is a lost call worth to you?"
PH: +1 613-521-1639
|5 Ways Intelligent Automation optimizes customer AND agent experience||October 18, 2019 5:00 AM|
|What's a Multimodal Customer Experience?||October 15, 2019 5:00 AM|
|Why Isn't Natural Language Understanding...Natural?||August 29, 2019 5:00 AM|
|Interactive Video: The Rise of RPA Bots in Customer Service||August 28, 2019 5:00 AM|
|Your Front is different than your Back||June 6, 2019 5:00 AM|
|Obstacles Contact Center Agents Come Across During Interactions||May 23, 2019 5:00 AM|
|Smart Solutions Resolve Call Center Operational Issues||May 21, 2019 5:00 AM|
|Companies Push for Digital to Enhance Customer Journey||May 16, 2019 5:00 AM|
|Companies Use AI to Enhance Customer Service Experience||May 14, 2019 5:00 AM|
|Has Intelligent Assistance entered the trough of disillusionment||April 11, 2018 5:00 AM|