The Top 5 Myths and Truths for Solving Common Business Challenges

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THE TOP 5 MYTHS & TRUTHS

For Solving Common Business Challenges


© 2014 Nexidia, Inc.

The Top 5 Myths for SolvingCUSTOMER SATISFACTION


The Top 5 Truths for SolvingCUSTOMER SATISFACTION

1 To understand not only how your customers rate your company, but more importantly, what occurred to drive them to that rating, you need to move beyond surveys. Analytics uncovers the drivers behind the scores, making the information actionable.

2 Having Net Promoter is one piece of the puzzle for understanding customer sentiment towards your company. But companies who want to use that information to affect change couple it with analytics to be able to correlate and quantify specific customer experiences to scores.

3 Don’t put customer satisfaction entirely in your agents’ hands – many things out of their control affect the customer including business processes created outside of the contact center. For example, product changes, technical issues, or billing errors can greatly impact customer satisfaction and analytics uncovers these.

4 If you’re not measuring the events taking place across 100% of your captured interactions, you’re leaving information behind. To best understand customer satisfaction you need to categorize and quantify every interaction to determine root cause, allowing you to correct the issues that drive dissatisfaction.

5 First call resolution (FCR) is only one facet of customer satisfaction. FCR should be combined with careful analysis of customer effort, which is a more critical factor in determining satisfaction.



The Top 5 Myths for SolvingCOMPLIANCE


The Top 5 Truths for SolvingCOMPLIANCE

1 Manual audit teams are only able to monitor a sample of interactions, and spend a lot of time listening to an entire call to find the section where a violation may have taken place. Using interaction analytics can lead to both increased productivity and reduced headcount.

2 Any violation can leave you vulnerable to disciplinary action, so monitoring a sample of calls isn’t sufficient. You need a system that scales to monitor 100% of your interactions and allows you to use those interactions in analysis to improve performance and reduce costs.

3 Every company benefits from compliance monitoring, because it goes beyond industry violations. Adherence to corporate and brand standards affect the customer experience and should matter to every business.

4 Real-time alerting is a tool for compliance and reminds and reinforces appropriate behavior, but the most successful companies pair it with post call analytics to measure agent adherence and augment coaching.

5 By categorizing and analyzing interactions for compliance, you’ll know exactly what’s in your data, and with the ability to quickly extract and deliver large quantities of specifically requested audio, interaction analytics helps remove regulatory audit anxiety.



The Top 5 Myths for SolvingSALES EFFECTIVENESS


The Top 5 Truths for SolvingSALES EFFECTIVENESS

1 To truly improve sales rates, a company needs to know the result of an interaction and what happened during the interaction to cause the result. Using analytics to track behavioral events will uncover this information.

2 Interaction analytics allows you to quantify the techniques of a top performer, so you can share and measure the application of best practices across your team.

3 Adding new skill sets to agents should be done through a measured approach, using best practices identified through analytics and metric-based coaching that leverages appropriate examples.

4 Real-time monitoring and alerting works best when coupled with post call analytics to ensure that what’s included in the alert, its timing and its adherence are based on strategic goals and proven, effective information.

5 Good agents drive sales, but only if well-armed. Companies using analytics can refine offers by studying their effectiveness against different customer types, quantifying the impact of alternative campaigns or competitors and understanding the events that shaped the customers’ experience.



The Top 5 Myths for SolvingCHURN/RETENTION


The Top 5 Truths for SolvingCHURN/RETENTION

1 Only by combining the behavioral events that are found in unstructured data sources such as audio, with information from traditional sources like CRM or billing systems, do you have a picture that’s complete enough to understand and solve churn.

2 Unresolved issues, not price, are often a top reason for churn and interaction analytics helps companies determine root cause.

3 Save queues can reduce churn but work best when you’ve used analytics to send the right interactions to the right agents with the right skills.

4 Predictive models increase in accuracy when they’re built using all available resources. Augmenting structured data with the behavioral information found in customer interactions adds crucial data points.

5 All businesses, not just those in oversaturated markets, can benefit from having a solid understanding of the drivers of churn and should take a proactive stance by implementing an analytics strategy.



The Top 5 Myths for SolvingCOST MANAGEMENT


1 Not all drivers of cost originate in the contact center – they often originate upstream due to changes to corporate policies or procedures that impacted the customer. Interaction analytics helps businesses identify and quantify these issues.

2 Relying on a sample of calls to identify problems can often draw inconclusive results. The examples found may support a theory, but not be indicative of the larger issue. You must analyze the events occurring across all of your interactions to quantify, trend and calculate impact.

3 Reducing handle times saves costs, but one must know which call types to focus on and what the appropriate goals are in order to protect the customer experience. Using interaction analytics allows you to get to the root cause of handle times so that cost saving measures can be taken.

4 Deflecting calls to self-serve channels drives down costs, but you must first use analytics to identify and quantify the types of issues alternative service channels are best equipped to aid in resolving to ensure maximum effectiveness.

5 Before turning to outsourcers as a cost saving measure, ensure you have a plan in place to measure their performance at the site, team and agent levels across the metrics that matter most to you. This will ensure corporate standards are maintained and customer service isn’t sacrificed for cost.

The Top 5 Truths for SolvingCOST MANAGEMENT

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