It’s no secret how valuable data is, providing useful insights to business and transforming the way you develop your offering for identified target markets — based on dependable, measured insights about what your potential customers want. But what about your existing customers?
While customer acquisition grows your customer base, customer retention grows your customer’s lifetime value. Data about both is invaluable and can be mined from the point of where these conversations with both types of customers are happening — your call centres.
How can analytics improve customer experience?
Customer experience goes a long way in customer retention and is now recognised as the clear differentiator that is driving digital transformation. This indicator of strategic performance means that the benefits of using contact centre analytics, as customer experience analytics, to enhance your customer experience will:
- build customer trust and loyalty
- increase your revenue and therefore your profits
- underpin a better employee experience
- reduce costs to the business
Managed Services Analytics
Most organisations underestimate the value of information that is hidden in their customer interactions. When you consider that the enhanced data from customer experience analytics has been voted the top factor in reshaping customer experience for the fifth year in a row, the next most logical question would be: why isn’t everybody using analytics?
The barriers to entry that we have identified as hampering the uptake of the analytics, especially in the SME space, are:
- costs associated with the Analytics platform(s)
- internal skills available to run an interaction analytics / quality / compliance practice
Our Managed Analytics Service (MAS) helps organisations to overcome these barriers of entry.
What is Managed Analytics Services?
We have developed speech analytics for Enterprises and SMEs that want to understand their customers while putting the data unlocked from customer interactions to strategic use, ultimately driving decisions underpinned by empirical data.
- Step 1: Calls are exported and analysed via our analytics platform that takes recorded conversations and transcribes them into searchable text.
- Step 2: Based on these transcriptions, we can analyse the call centre’s role in customer experience; your MAS analyst then helps you drive insights from your calls and improve process, compliance and overall customer experience.
- Step 3: MAS outputs against the agreed areas of focus are presented as a daily report or dashboard, or fed back into your ecosystem for easy integration
Call Centre Analytics
Our MAS provides analytics in and across four of South Africa’s eleven official languages. These are:
An analyst then uses voice analytics and call insights to help you to prove or disprove and quantify your challenges by creating a hypothesis which can be tested against your interactions. You can then evolve these into enhanced customer experience strategies for customer experience improvement.
How it is put to work for you
It’s all about enhanced data.
By converting the unstructured customer data into structured data, call insights translate directly into extracted value from the interactions that you and your business are having with your customers. Examining this data empowers you to drive strategic decisions backed by empirical data.
For example: If speech analytics determined call insights that revealed to you that 50% of call-volume is about a specific product or issue, you could tweak the strategy of your planning, shift scheduling, resources and training for your call centre agents accordingly, thereby directly impacting the customer experience within your offering on that specific product or issue.
This provides an added advantage to customer retention based on decisions that are made with customer experience in mind. With new product launches or a change of policy, you can tailor your strategic decision-making to cater to those needs of your customers, never leaving any one of them feeling frustrated at the lack of capacity or resources to deal with their issue(s).
Is it right for your business?
If you are wondering whether MAS gives the added advantage to financial services’ call centres specifically, the answer is ‘no’. Any business that has a call centre that operates as the contact point where conversations between your customers and your business are happening will benefit from our Managed Analytics Services. These span both inbound and outbound call centres, and would include customer enquiries and customer care, complaints lines, proactive business acquisition (sales) call centres, accounts, collections and much more.
Customer Experience Analytics
What makes our solution unique?
Our Managed Analytics Service approach is based on a robust methodology to ensure that value is derived from customer interactions. Not only do we provide a choice of technology and delivery models, we also provide the required analytical skills to prove/disprove hypotheses across all areas of business.
Our MAS guarantees fully-integrated digitally-designed solutions for multiple platforms and products. This includes:
- Provision of underlying analytics technologies with flexible commercial (capex, opex, SaaS) and deployment models either on-premise or via Cloud computing (public and/or private)
- Robust methodologies that are affected across multiple platforms with flexible delivery models
- Our global player-positioning and insights that offers packaged solutions
- Strategic consulting and advisory to ensure the best platform fit for your unique business’s needs
- Implementation and support services
- Managed analytics services that consist of a client liaison and business analyst / query analyst to ensure parity between business challenges and analytics strategy
- A one-stop-shop service from deployment to insight
- Prove or disprove hypothesis around business challenges
- Quantify the impact of certain business challenges
- Provide insight on the relationship-dynamics between customer and agent behaviour
- Improve collections and sales scripts
- Increased compliance checking
- Increased reach for quality management
If you would like to know more about the role we can play in data extraction for customer behaviours and how these preferences can help inform strategic decisions, please click here. For a consultation on how MAS can be put to work for you, please contact us using the form below: