Attracting New Customers Is Expensive
It is always cheaper to keep your current customers than attract new ones. According to the Harvard Business Review, acquiring a new customer is anywhere from 5 to 25 times more expensive than keeping an existing one. This is why you need to find better ways of retaining your customers. One of the best ways is to increase customer engagement, because engaged customers are great brand advocates. They are also repeat buyers who have a direct influence on profitability.
According to Gallup, a global analytics and advice firm, customers who are fully engaged spend 23% more in terms of wallet share, profitability, and revenue than the average customer, so investing in customer engagement builds a strong brand with loyal customers.
Increasing Customer Engagement with Conversational Technologies
Customer engagement is about enhancing the customer experience and encouraging customers to interact. It is also about influencing customers in ways that build long-term relationships.
To increase customer engagement, organizations need to enhance the customer experience by:
Conversational technologies are great tools for increasing customer engagement. These technologies include speech recognition, text-to-speech (TTS), natural language processing (NLP), and voice biometrics.
Conversational technologies use voice as a natural interface to facilitate human-machine interaction. Thus, they empower intelligent automation solutions that enhance customer experience and engagement through smart self-service.
By using these technologies, you can cut costs without sacrificing customer satisfaction. With the automation they provide, conversational technologies decrease customer service costs, the need for human workers, and the working hours spent on conventional service approaches.
Conversational technologies can be integrated into any channel, and they are available 24/7. This enables customers to reach your organization any time from whatever channel they prefer. Always being available means uninterrupted service for customers. By using conversational technologies, you can provide effective omnichannel self-service for your customers.
Empower Customers with Qualified Self-Service Through Natural Dialog
NLP-based technologies enable users to interact with any system by using their own words instead of conventional interfaces. These technologies ensure a natural dialog between users and systems and can be used in IVRs, chatbots, and virtual assistants.
By implementing NLP-based natural dialog technologies in your solutions, you can empower your customers to help themselves. These technologies understand your customers’ natural speech and intent and offer them the solutions they need any time from any channel they like. For example, when implemented in IVR systems, conversational technologies allow users to navigate across menu options via natural speech. Time-consuming touch-tone and agent-assisted menu navigations are replaced with everyday language. Customers can reach the right self-service menu option by stating their needs quickly and easily, in their own words.
Another use case for these technologies is chatbots and virtual assistants. These popular applications draw their strength from NLP technology. With the help of NLP, both applications understand the intent and meaning behind users’ statements with high accuracy, answering customers’ questions with ease, no matter how complex they are.
As intelligent automation solutions, natural dialog technologies can help you to increase customer engagement by:
Enhance Security with Voice Biometrics
Today’s customers are deeply concerned about security, and given the security threats that exist, they are not wrong. Traditional security measures like PINs, passwords, and security questions are poorly equipped to stop the growing incidence of fraud and identity theft.
As a conversational technology, voice biometrics offers an effective security solution. The technology verifies users’ identities via each user’s voice. Everyone’s voice is unique, just like fingerprints and irises, which makes voice authentication far more secure than traditional security measures.
The technology not only increases security but also enhances the customer experience. Conventional security measures like PINs, password, and security questions can be time consuming for customers—and sometimes easy to forget. Unlike these methods, voice biometrics enables reliable identity verification in a matter of mere seconds.
Voice biometrics automates security processes. By using this technology, you can optimize your security processes by replacing manual identity verification. This significantly reduces the number of security steps and time involved in the verification process.
Voice biometrics is a smart approach to identity verification. The technology contributes to customer engagement by:
Know What Your Customers Think About You with Smart Analytics
To provide your customers with what they are looking for, you need to listen to them. Effectively listening to your customers on their terms and acting on what they say are keys to effective customer engagement.
Customer interactions include a wealth of invaluable insights: the level of customer satisfaction, likelihood of churn, agent performance, campaign effectiveness, and more. However, the sheer volume of these interactions makes it impossible to manually review and analyze them. Manual review can process only a fraction of interactions and is far from providing objective evaluation results.
Interaction analytics solutions, also known as Voice of the Customer, can help you overcome this challenge. With these automated approaches, you can apply in-depth analytics to recorded customer interactions across multiple channels. These analyses include not only textual and statistical details but also emotional ones. With advanced features like emotion detection and sentiment analysis, you can gain valuable insights into how your customers feel.
By applying smart analytics to recorded customer interactions, you can identify and measure the drivers of customer behavior. Acting on customer feedback allows you to implement effective business strategies that improve self-service processes, staff performance, and customer experience. The result is happier and more deeply engaged customers.
Smart analytics solutions help you to gain intelligence from customer interactions by allowing you to:
As Sestek, we will be sharing insights into the effective use of conversational technologies at the AVAYA Partner Summit 2019, which will take place on 4–5 December 2018 at the Event Center of the InterContinental Hotel, Dubai Festival City.
Visit our booth to learn more about Sestek’s conversational technologies, including Natural Dialog, Voice Biometrics, and Voice of the Customer.
To learn more about the Avaya Partner Summit, please visit the event website.
Publish Date: December 4, 2018 5:00 AM
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Call Center Studio
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ContactPro empowers agents to efficiently serve customers in today's demanding world of Omni-Channel communication. The state-of-the-art technology solution helps contact centers to leverage their existing Avaya infrastructure while decreasing contact center costs and increasing customer satisfaction.
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|5.)||Comm100 Network Corporation|
The Comm100 omnichannel customer experience platform powers real-time interactions via web, mobile, and messaging. We make it easy for organizations to answer questions, solve problems, and keep customers happy.
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CFront for Digital Communication Channels
CFront by Comsys is a state-of-the-art application that enriches contact centers with digital communication and collaboration capabilities. CFront is natively compatible with Aspect Unified IP and Cisco Unified Contact Center (UCCE/UCCX) platforms and connects them with all the major communication channels.
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®, Aspe...
You may have seen the meme going around that captures what tipped the balance towards digital. The questionnaire asks, “who is driving your digital transformation?” After “CEO” and “chief digital officer”, the third option is “Covid-19” highlighted with a red circle. The pandemic has been tragic in the toll it has taken on the lives and health of the global population, forcing billions to stay at home. Yet, it has also been a catalyst for change in a bigger way than any event since the last world war. Who would have thought that a bank would lend a new customer a million dollars or more based on a video inspection of the mortgaged property and without any physical paperwork or face-to-face K...
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Eckoh Experience Portal
Cloud-based portal that delivers Eckoh's complete Secure Payment and Customer Engagement solutions. Simply take the solutions you need today and add additional ones as you need them. All from one supplier.
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eGain omnichannel customer engagement solutions power digital transformation for leading brands.
Guided by AI, knowledge, and connected analytics, eGain’s customer engagement suite enables excellence in digital-first, omnichannel customer engagement across digital self-service, including virtual assistance, messaging, chat, social, and email, seamlessly integrated with voice.
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Customer Engagement Platform
The Customer Engagment Platform (CEP) collects multichannel interaction and application data from all channels, across multiple systems, providing a single, complete data source for ethosAnalytics to access and display information in useful, usable ways. CEP provides companies with scalable and repeatable software for big data solutions.
Directly engage customers through an effortless Video chat via your web page or mobile APP with a secure platform. Escalate from an existing chat or create a brand new video conversation, use desktop sharing and co browsing, record and track every step of the customer journey
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Noble Contact Center
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70,000 health-related searches are made on Google every minute. The digital front door as a channel is more important than ever for helping consumers access care. OrbitaENGAGE, leverages powerful conversational tools such as chatbots, voice search, and voice SEO, which guide consumers as they search for and navigate care. Capabilities focus on call deflection and include: Find a doctor or location , Appointment scheduling , Healthcare FAQs, Virtual triage
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VADS Omnichannel Solutions
Omni Channel is a cross-channel business model and content strategy that companies use to improve their user experience. Omnichannel is an integrated way of thinking about people’s relationships with organisations. Rather than working in parallel, communication channels are designed to cooperate and build a coherent, evolving, cross-channel experience.
Omni Channel supersedes multichannel and includes channels such as physical locations, FAQ webpages, social media, live web chats, mobile applications and telephone communication Companies that use omnichannel contend that a customer values the ability to be in contact with a company through multiple avenues at the same time.
Synthetix has been empowering companies with conversational customer engagement tools, powered by AI since 2001. The leading cloud-based software supports your customers and employees through the power of unified solutions that promote CX. With AI-powered knowledge management, self-service, chatbot and live chat tools that can seamlessly integrate, agents become more productive and customers receive an enhanced, optimised level of customer support and digital experience.
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