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Article : Conversational Analytics - The Secret to Exceptional First Call Resolution & Outstanding Customer Experiences

#contactcenterworld, @AwakenIntel

Author: Simon Black, CEO, Awaken

Jack Ma, founder of Alibaba once advised, "Forget about your competitors, just focus on your customers". As the statistics highlight dissatisfied customers not only cost you time and money but if you lose a customer it’s going to cost even more to replace them.?In fact, it’s common knowledge that it can cost five times as much to acquire a new customer versus retaining existing ones. Worryingly, in a world of over-sharing your customers are likely to complain about your business, products or service across their social channels, within minutes. That’s why your customers’ first interaction with your business needs to be fit for purpose from the outset.

Quite often that first conversation is with your contact centre, the very heart of your company’s customer services. It’s usually the first point of call for customer queries so it’s important to ensure that your first call resolution (FCR) processes are more than fit for purpose. Making sure that the communication between your agents and customers are as simple and as mutually understandable as possible is critical. From a customer point of view their interaction with your business often means minimum effort on their part and maximum reward (for them, from you). Gartner recently highlighted that 94% of customers with low-effort interactions intend to repurchase compared with 4% of those experiencing high effort.

These numbers aren’t really a surprise. We all know from our personal encounters that it only takes one good or bad incident to make or break a relationship. As Amazon CEO and founder, Jeff Bezos puts it, "If you make customers unhappy in the physical world, they might each tell six friends. If you make customers unhappy on the internet, they can each tell 6,000". The good news though, according to PWC, is that when it comes to making a purchase, 42% of all consumers would pay more for a friendly, welcoming experience – which is why First Call Resolution (FCR) so important.

FCR, or sometimes referred to as ‘one-touch resolution’, isn’t just about the average number of support tickets your agent resolves on the first response or interaction with a customer. It may be a popular benchmark to measure metrics such as response rates and resolution time so that you can run your call centre team efficiently but there’s more to FCR. Well, if you really value the customer experience (CX) and their journey.

As the statistics highlight dissatisfied customers not only cost you time and money but if you lose a customer it’s going to cost even more to replace them. Fortunately, the technology is now in place to support and improve these FCR interactions. By incorporating Artificial Intelligence (AI) into your contact centre you can better support your agents and provide them with the right tools for resolution and a more seamless customer journey.

A recent survey by PointSource highlighted, 49% of customers are willing to shop more often when AI is present and 34% of customers will spend more money. The research also found that 38% will share their experiences with friends and family. Essentially, AI makes people shop more, spend more and share more. So, with today’s technology there is every reason and every opportunity to get the customer experience right.

According to IDC, $13.9B was invested into CX-focused Artificial Intelligence (AI) and $42.7B in CX-focused Big Data and analytics during 2019, with both expected to grow to $90B in 2022. That’s a pretty strong argument that now might be the time to look at how AI can support and enhance the experiences of your customers and become the game changer needed in your contact centre customer relations. You only have to look at consumer adoption of conversation digital assistants like Alexa to realise that natural language query (NLQ) or conversational analytics (CA) is on the up and up.

NLP enables people to ask questions about data and receive an explanation thanks to the amazing analytics built into the platform. Conversational analytics takes this further by allowing people to ask questions verbally and Gartner predicted that by 2020, 50% of analytical queries would be generated via search, natural language processing or voice, or would be automatically generated.

We recognise that the use of NLP and CA can enhance our experiences as a consumer so how can it help our businesses? In 2018 ZDNet’s sister site, Tech Pro Research, reported that 70% of survey respondents said that their companies either have a digital transformation strategy in place or were working on one. Fast forward two years and digital transformation projects have been fast tracked, thanks to the accelerant we now know as COVID-19. Almost overnight organisations have had to transform their operations, mobilise their workforces and meet customer expectations within new parameters. Digital transformation has put data at the very centre of every business, what you need to do now is use it to your advantage.

NLP and CA are so transformative that Garner listed them in their own Top 10 technology trends in data and analytics report. The analyst house predicts that by 2021, NLP and conversational analytics will boost analytics and business intelligence adoption from 35% of employees to over 50%, including new classes of users, particularly front-office workers. And it’s your customer facing employees (as well as your customers themselves) that stand to benefit from CA the most.

Think about your omni-channel for a moment. It shouldn’t matter whether your customer reaches you by telephone, email or social media, they should have the same frictionless experience. CA enables your contact centre agents to answer customer queries in a knowledgeable way, quickly supplying answers and resolving problems or escalating so that the customer gets a personalised, easy experience. In fact, there’s lots of benefits for both your customers and your agents with CA;

For Your Customers:

Customer service whenever and wherever they need it.

Ability to ask all kinds of questions and not be transferred across multiple departments.

Real-time solutions to problems resolved with insight and, with Awaken Translate, real-time voice to voice translation means customers can have their query resolved in their own language, not that of your business.

Ability to provide outstanding customer service rather than focusing on the process will make communication with your customers more personalised and will allow you to meet their needs better.

For Your Agents:

The intuitive way CA works means your agents require less training or can move on to different campaigns without spending hours reading reams of training manuals.

Ability to handle calls and resolve them faster than before, which means your cost per call is kept in control.

Your agents have ability to focus on the conversation, rather than the process which means both agent and customer have a better experience. That means your staff retention improves dramatically.

Analysing only the calls with known issues, flagged by Auto QA you will save up to 67% of your QA team’s time.

By providing you with actionable insights formed into one report, it will allow you to motivate your agents in the right directions and stimulate continuous improvement.

#contactcenterworld, @AwakenIntel

 

 

 

 

 


About Simon Black:
An established senior executive with over 20 years’ experience in the software industry with a track record of driving rapid sales growth and scaling businesses. Simon is passionate about delivering value and excellent service to customers and developing a strong team culture for success. Prior to joining Awaken, Simon has held a number of Global management roles in enterprise software companies such as IBM, HP - Interwoven, and TIBCO.

About Awaken:
Company LogoAwaken Intelligence are providers of flexible software helping their customers see the complete picture for their contact center. Through voice analytics, speech analytics, actionable insights, and dynamic call scripting solutions, the platform is flexible, easy to work with and adapts quickly as the call center evolves. The Awaken Intelligence team have over 35 years combined experience, meaning their products are designed by contact center people for contact center people.
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Today's Tip of the Day - Keep Cost In Perspective

Read today's tip or listen to it on podcast.

Published: Monday, June 15, 2020

Printer Friendly Version Printer friendly version

2024 Buyers Guide IVR

 
1.) 
Premium Listing
Call Center Studio

Call Center Studio
Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.


2.) 
Computer Data Services, LLC

VIRTUAL PBX
Get the benefits of an expensive, on-premise telephone system without the high price tag and annoying maintenance.

- Never miss another phone call
- No more busy signals
- Feature rich
- Answer your calls from anywhere

3.) 
eGain Corporation

eGain SmartIVR
eGain SmartIVR is an over-the-top solution to modernize IVR systems. Businesses can offer smartphone callers an easy choice to resolve queries via digital messaging and intelligent self-service. And they can optimize the IVR experience with end-to-end analytics.

4.) 
PEC Telecom

Virtual Phone Numbers (DID) and Business VoIP Phone Service
Whether a customer is running a Call Center business, an IVR system to take phone orders or a voice mail service bureau, he still needs inbound lines and access numbers (DIDs). These lines and DIDs give customers the ability to call in and use the service. Traditionally, these lines and DIDs were obtained through the local telephone company (i.e. Verizon, AT&T or Time Warner) and a company could only purchase numbers with area codes in the region the system resided. With VoIP, this has changed.

DID Live is an IP DID service that allows you to accept incoming calls via VoIP as an alternative to standard digital or analog lines. The service provides the same quality of sound you expect from...
(read more)

5.) 
Pointel

Voice Self Service
Voice self-service can reduce cost and improve customer satisfaction. As with every system implementation, it is not the software, but the implementation that will define the success of the project. This also holds true for self-service implementations. Pointel follows a unique and proven process to implement voice self service. This process has been fine-tuned through years of experience implementing contact center and self-service applications. Pointel can design and develop solutions that will meet and exceed our client’s voice application needs. With several years of experience in Genesys GVP(Genesys Voice Platform) implementation and integration, Pointel can provide an integrated voice...
(read more)

6.) 
Teckinfo Solutions Pvt. Ltd.

IVR Edge
IVR Edge is a high performance, robust and scalable ivr system that works on various leading hardware such as Dialogic, Keygoe and Synway etc. It can handle the simplest of simple to the most complex of requirements to when it come to creating an IVR. Integration with any 3rd party database, be it for banking, telecom, insurance, travel, payment gateway etc can be handled with ease. Ideally suited to create Hosted IVR and virtual patching solutions with scalabilities that can range from 4 to 128 E1’s per setup with voice recording and CDR functionality. Integration with leading text to speech (TTS) and speech recognition ASR engines add to the flexibility and functionality.
 

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