Almost a decade back, a friend from a leading telecom company had told me that they used about 100 parameters to predict the probability of a customer churning out – an important board room discussion point. At that time, their churn prediction accuracy was over 80% and was continuously improving.
Over the last decade enterprises have seen an exponential influx of structured and unstructured customer data, giving insights through analytics, which can help companies create a kind of customer service experience that attracts new customers, drives customer retention and advocacy, thereby creating a competitive edge. In the last decade, we have also witnessed an immense rise in intelligent AI and BI tools.
The unanswered question remains though: where does this key information reside in an organization? Sales? Strategy? Marketing? If there is one department which is customer data-rich in an organization, it is Contact Centre. Just think about customer data from the day the relationship with a brand started: historical conversations, customer’s appreciations and complaints on social media, history of voice & chat conversations with agents and so much more, residing in one central place. And add to that the history the connections built over other touchpoints like kiosks, websites, portal logins, payments made, issues faced, etc. Contact Centre is a goldmine of customer information.
We all have heard the message “your call may be recorded for training and quality purposes,” but not many companies realize that these recordings coupled with Speech Analytics or Natural Language Understanding (NLU) can turn into a valuable set of information with a potential use to cross-sell, upsell, or even retain a customer by sales. The same data can even be used by the product team to create solution offerings.
The shifts in Contact Centre, when monitored closely can help can predict a lot about future customer activity, catalog their preferences and identify gaps which should be urgently filled by an organization. For example, a surge in textual conversation over calls from a specific market can help build a marketing campaign for that region and the technology team to deploy the right set of tools in the Contact Centre.
Let’s take a quick look at some of the Intelligence tools that can add value:
- Speech Analytics; discover valuable insights in conversations- Speech Analytics can be used to improve the customer experience, identify knowledge gaps and areas in which the agent might require more training. It can also identify which agents are passive or proactive, what they can handle and where they have difficulty. Speech analytics can push agents with messages to respond aptly when on call and much more. On the customer’s side, it can gauge customer emotion and satisfaction by analysing their voice, tone, silence patterns, etc. It can be used effectively to identify the success of a campaign as well.
- Self-Service Analytics; deliver great CX– IVR has evolved from voice to text and has started taking prominence again as customers prefer texting and messaging over talking in today’s self-service world. Analysing this data can produce valuable insights from basics like accurate caller identification to the reasons for calls, improvement in call flow, etc.
- Cross Channel Analytics; inclusive intelligence for better CX– Customers today don’t reach an organization through just one medium. Armed with smartphones they can call, email, chat, use social media or use mobile apps and a host of other sources to make contact. The data flowing in from each of these channels contains valuable customer insights. Cross channel analytics offers the ability to identify and evaluate the various channels that customers use to interact with them and to determine which channels to use to optimize interactions with their customers.
- Predictive Analytics; improve decision making– Predicting customer behaviour is key to identify important business trends. Predictive analytics also identifies the means of communication preferred by customers. Enable agents with right tools, have the right set of people engaged over the communication platform customer prefers, save costs, keep customer happy and so much more through detailed predictive Analytics
- Performance Analytics; make performance predictable– Performance Analytics provides an accurate picture of what is working and what isn’t with respect to agents, teams, and strategies. Today many call centre analytics solutions offer online reporting and dashboard views of critical performance data, both real-time and historical, in context and take proactive steps.
Overall, these data points can help companies gradually stand out from competition and build a solid reputation as an employer as well as a customer-friendly organization.