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Industry Research : Invoca Report Finds That Despite Inflation, 63% of Consumers Will Pay More for Great Customer Service

#contactcenterworld, @invoca

While rising inflation may be causing consumers to carefully evaluate investments in high-stakes purchases, inflation is also increasing their expectations for excellent customer service, according to a new report published today by Invoca, a cloud provider in AI-powered conversation intelligence for revenue teams. Invoca's 2022 Buyer Experience Benchmark Report examines how consumers' expectations stack up to their brand experiences when they make high-stakes purchases such as buying cars, taking on home improvement projects and going on vacations. According to the report's findings, over three-quarters of respondents (76%) said they would stop doing business with a company after just one bad experience. In comparison, 63% said they will still pay more for great customer service.

Consumers are shopping based on price, but they're demanding great experiences, too.

Price and customer service are consumers' two top concerns when making a high-stakes purchase—the primary reason consumers say they will stop doing business with a company is price, followed by poor service on the phone. While most consumers (67%) said they would do more research than last year to find the best price, 63% also said they were willing to pay more to get the best customer service.

It's also apparent that the pressures of inflation are giving consumers pause. Slightly more (38%) consumers reported making a high-stakes purchase in 2022 than in last year's survey (35%). Over 70% of respondents say that inflation has affected their high-stakes purchasing decisions and timelines, and more than half (58%) are slightly less likely or much less likely to purchase at all due to inflation. Rising prices have not significantly slowed consumer demand for products and services, but they have increased their demand for superior customer service.

"Inflation is putting pressure on consumers who have to pay more for most everything, so they rightfully expect more for their money and will not tolerate poorly executed buying experiences," said Jennifer Lovette, SVP of Customer Success of Invoca. "When someone calls your business, they're ready to buy and will be immediately turned off if any human-to-human interaction with your brand is not stellar—the phone call is the face of your brand and providing a great call experience is one of the best ways to drive loyalty and customer lifetime value."

In 2022, the phone became the preferred communication channel when consumers have a problem or need help, overtaking digital.

Invoca's survey also found that the phone is the most preferred communication channel (68%) when consumers are having a problem and need help, up 8% since 2021 and overtaking digital/online as the preferred contact channel. The least preferred communication channel for resolving issues was via chatbot (4%). Results indicate that people are warming up to chatbots, however. When asked how comfortable they would be making a purchase if the only communication option was a chatbot or automated assistant, this year, 20% said they would be comfortable using chatbots compared to only 13% in 2021. Gen Z and Millennials make up the bulk of that increase in chatbot affinity, with almost one-third (32%) of younger consumers reporting that it's their preferred communication channel.

Further highlighting the importance of providing a great experience on the phone is the dreaded rude agent, which now tops the list for what consumers constitute as negative customer service (59%), followed closely behind by long hold times (58%) and too many transfers (54%).

Invoca's 2022 Buyer Experience Benchmark Report key findings include:

Rising inflation has consumers rethinking their high-stakes purchases. Almost three-quarters (72%) say inflation has affected their purchasing decisions and timelines, and over half (58%) are slightly less likely or much less likely to make these purchases at all due to rising inflation.

Yet a positive customer experience can be a make-or-break moment for a business. Over three-quarters of respondents (76%) are likely to stop doing business with a company after just one negative customer service experience.

Consumers now expect businesses to know their reason for calling, especially if they've done business with them before, with the vast majority (85%) expecting they know some details about them (ex. purchase history, know who I am, etc). These results compare to 2021, where only 71% believed businesses should already know these details and expect their reason for calling.

Negative customer experience boils down to rude agents (59%); long hold times (58%) and too many transfers (54%). It's clear that consumers have lost patience with contact center agents and tempers are rising with more than half (61%) of respondents admitting they will sometimes get angry or raise their voice with agents.

Prioritizing personalization earns your customers' trust and loyalty.

While today's consumers may expect businesses to know their reason for calling, they will also trust businesses more and are more likely to do business with them in the future. Therefore, businesses must empower their contact center agents with impactful data and simple technology to ensure they can deliver positive customer experiences. Eliminating pain points by allowing agents to hit the ground running in customer interactions, armed with the right data at the right time, will ensure they can provide assistance and troubleshoot efficiently.

#contactcenterworld, @invoca

Posted by Veronica Silva Cusi, news correspondent
Source: https://www.prnewswire.com


About Invoca:
Company LogoInvoca helps the modern marketer optimize for the most important step in the customer journey: the phone call. With Invoca's Call Intelligence platform, marketers can get granular campaign attribution to understand why customers are calling, gain real-time intelligence about who's calling and analyze what's being said in conversations. Marketers can put this data to work directly in the platform by automating the ideal customer experience before, during and after each call.
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Today's Tip of the Day - Simplicity, Simplicity, Simplicity!

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

Published: Friday, July 29, 2022

Printer Friendly Version Printer friendly version

2022 Buyers Guide Computer Telephony Integration

 
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.) 
AMC Technology

DaVinci
DaVinci provides Computer Telephony Integration (CTI) to a library of pre-built applications + UXiPaaS (User Experience Integration Platform as a Service) built specifically for contact centers. As contact center needs evolve, organizations need to have access to extend or create new functionality, without waiting to be a part of a software roadmap. Get the benefits of CTI within your CRM like screen pop, click-to-dial, screen transfer, speed dial and more, but future-proof your contact center so you can expand and integrate how and when you want.

3.) 
ComSys S.A.

CLink for CRM and Call Center Integration
CLink by Comsys is a middleware that connects in real-time the CRM and the contact center applications. CLink enhances the CRM with interaction management capabilities from the contact center that allow agents to work more productively across all 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®, Aspect Software®, and Microsoft® for the delivery of innovative interaction management and contact center optimization solutions.

4.) 
Consilium Software

Consilium UniAgent™
Today’s call centers need their agents to work more naturally, and respond better and faster. Here, we talk about the innovations Consilium has made with the latest desktop and mobile agent releases of the UniAgent™ CRM connector. From small enterprises to Fortune 500 companies and governments across 110 countries, UniAgent™ comes into action right at the moment of reckoning, making every contact center experience engaging and personalized, powered by simplified customer identification and anticipating customer needs.
UniAgent™ provides CRM integrations between all the Cisco contact center solutions (UCCX, PCCE, UCCE and HCS-CC) and over 20 CRMs, such as Salesforce, Microsoft Dynamics 365...
(read more)

5.) 
IntraNext Systems

IntraNext Systems develops agent efficiency tools and data security software solutions for medium-to-large contact centers. Our Event Intelligence® Platform solutions include SmartCTI™, iGuard®, and SmartSIP™. SmartSIP is based on our patented SIP layer technology and provides a DTMF masking solution for VoIP environments.

6.) 
Megacall

CRM integration
CRM
We know how important it is for a business to obtain data from its customers and to manage them effectively, so we help small to large companies by integrating their CRM with the Virtual Switchboard.

This type of integration will simplify the work of your team and improve the management performance of the contact list and its information.

7.) 
NovelVox

NovelVox CTI Connector
NextGen Cisco Finesse, Genesys & Avaya Embedded CTI Connectors for Salesforce, Microsoft Dynamics, ServiceNow, Zendesk & more.

8.) 
PhoneIQ

PhoneIQ
What is PhoneIQ?
PhoneIQ is the modern cloud phone system and contact center platform built exclusively for companies on Salesforce. Our all-in-one cloud communications platform brings together power dialing, local presence, voicemail drop, Salesforce call routing, call recording and a complete PBX replacement that lives within your CRM. With support for desktop, mobile, and desk phones, PhoneIQ works seamlessly at the office or remote, logging all interactions in Salesforce and generating reports in real-time.

Best For
Companies using Salesforce and looking for a phone system, dialer, or contact center software that provides deep integration capabilities with their CRM and expert Salesforce support.

9.) 
PRILINK

Easy Contact Center Traffic Analytics (Ec2Traffic)
Prilink Ec2Traffic provides network traffic analytics (NTA) for Internet, SIP Trunk and WebRTC traffic for on-premises and cloud Contact Centers.

Ec2Traffic analyzes network layer 2 to 4, RTP and SRTP packet loss and SIP protocols in real-time from the demarcation point or network edge, generating NTA metadata and requires little telemetry bandwidth.

Ec2Traffic provides:

- Year-round NTA metadata

- Daily CSV files upload to Customer business applications

- Capture packet to Wireshark for Deep Packet Inspection (DPI)

- detect traffic anomalies

- and more ....

10.) 
Teckinfo Solutions Pvt. Ltd.

InterDialog UCCS
InterDialog UCCS - a robust contact/ call center software that helps organizations provide a seamless customer experience across all channels in the customer service journey. All interactions from various channels come to a single unified queue on the InterDialog platform. With unified view agents get to see all historical interactions , enabling him to give a resolution quickly. InterDialog UCCS is a comprehensive Contact/Call Center Software with robust CTI, Unified Q ( ACD), Reporting, Unified Agent Management, Administrator, Supervisor - Monitoring (Pmonitor)
 

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