Roundtable: Analytics and Business Intelligence February ... · Access to data necessary to shift marketing strategy based on customer wants – Package multiple procedures to meet

Roundtable: Analytics and Business Intelligence

February, 2014

CRMXchange

Sabrina DeRose, Account Manager, Speech Analytics Solutions, CallFinder

Koren Stucki, Director, Customer Analytics, Verint

Nick Sianis, Contact Center Consultant, inContact

© 2014 Verint Systems Inc. All Rights Reserved Worldwide.

Koren Stucki, Director Solutions Marketing, Customer Analytics

Customer Engagement Optimization

and Customer Analytics

Confidential and proprietary information of Verint Systems Inc. © 2015 Verint Systems Inc. All Rights Reserved Worldwide.

Collect and analyze

massive amounts of

data to understand

and predict customer

behavior and improve

journeys

Break down

organizational silos to

provide consistent

and seamless

customer

engagement across

multiple channels

Operationalize

customer insights and

empower employees

to deliver effective

and efficient

engagements and

next best actions

Connect the dots

from web to contact

center to social media

to branch offices

because customers

channel hop

3

Transformation Challenges



Enrich

Interactions

Optimize

the

Workforce

RISK

REDUCTION

OPERATIONAL

EFFICIENCY

REVENUE

ENHANCEMENT

CUSTOMER

LOYALTY

Improve

Processes

OMNICHANNEL CUSTOMER ENGAGEMENT

Back

Office

Branches

Stores

Field

ServicesMobile

Web

Self -ServicePhoneEmail/ChatSocial

Actionable Intelligence™

4


Enrich

Interactions

Optimize

the

Workforce

Improve

Processes


RISK

REDUCTION

OPERATIONAL

EFFICIENCY

REVENUE

ENHANCEMENT

CUSTOMER

LOYALTY

WORKFORCE OPTIMIZATION

• Quality Monitoring & Recording

• Workforce Management

• Desktop & Process Analytics

• Performance Management

• eLearning & Coaching

CUSTOMER ENGAGEMENT

• Employee Desktop

• Email, Chat & Co-Browse

• Knowledge Management

• Case Management

• Web Self-Service

CUSTOMER ANALYTICS

• Engagement Analytics

• Speech Analytics

• Text Analytics

• Feedback Management

• Fraud & Identity Analytics

5

Actionable Intelligence™


Optimizing Engagement with Feedback

Customer Feedback Loop

CLOSE

THE

LOOP

ResolveProblems

AnalyzeProblem

CaptureFeedback

Addressed Issue

Unhappy with Purchase

Low NPS

Internal Process Loop

Coaching

Fix the Process

Identify Process

Problems with Purchase

PayPal Problems

New Launch Process

6

Confidential and proprietary information of Verint Systems Inc. © 2015 Verint Systems Inc. All Rights Reserved Worldwide. 7

Evolving From Insights To Action

Our Customer Analytics methodology to simplify the complexity of “Big Data”

• Integrated customer insights

• Employee education and empowerment

• Omnichannel execution and closed-loop feedback

• Unified brand management

• Data understanding and internalization

• Strategy and planning

• Change management

• Root Cause Analysis

• Customer-level insights

• Contextual metrics and KPIs

• Dynamic visualizations

• Unstructured and structured data

• Channel by channel

• Granular/transaction-level data


Omnichannel Engagement Analytics

Behavioral Trends

At-risk Customers

Automated Root Cause

Analysis

Self-service Abandonment

SPEECH

Voice

Transactional &

Relationship Satisfaction

Employee Feedback

Loyalty Drivers

Product/Service/Channel

Feedback

EFM

Structured Surveys

Customer Sentiment

Social Media Analysis &

Response

Survey Verbatim

Comments

Employee Notes

TEXT

Unstructured Text

Delivering Insights Across All Touchpoints

8

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Gain An Omnichannel View With Customer Journey Insights

9


Automated Customer

Health Scoring

Next Best Action to

reduce churn

Deliver Insights And Intelligence When It Matters Most

10


Verint at a Glance

Customer Engagement

Optimization

Fraud, Risk and

Compliance

Security

Intelligence

10,000+

Customers

in over 180

Countries

of Fortune 100

companies count

on Verint solutions

4,600+Verint professionals worldwide,

plus a network of global partners

600+Global patents and

patent applications

Top 20%Member of the Global

Software 500

11


Thank You!

Koren Stucki

Director, Solutions Marketing, Customer Analytics

Verint

[email protected]

@korenCx

Contact Information

12

mailto:[email protected]

Easily Discover the Conversations

Extract Business Intelligence

from Customer Conversations

Using Speech Analytics


Contact Centers Are the Gateway

• Contact centers are on the

frontline of the customer journey

• Hub of many critical data points

– customer data, product data

• Much of the data is structured

and quantifiable

– call metrics, agent scores, surveys

• The true “voice” of customers is

complex and NOT structured


How to Access the Intel

• Every phone conversation contains a vast

amount of unstructured data

• Unstructured data delivers powerful

business insights for a profit-centric

contact center

• Speech analytics brings order to chaos!– Capture intel to inform strategic decisions

– Gain insights to support communication


BUSINESS CASE:

Analyze Trends

Problem:

Solution:

Actionable

Results:

Cosmetic surgery practice tracks caller interest in procedures to

analyze marketing strategies

Create key phrase searches to gather data on real customer

inquiries, automatically categorizing calls by procedure type

Access to data necessary to shift marketing strategy based on

customer wants– Package multiple procedures to meet patient needs

– Based on customer intelligence, directly captured in conversations

Leveraged unstructured business intelligence to market to patient

needs and generate more appointments and revenue


BUSINESS CASE:

Streamline Operations

Home improvement manufacturer could not automatically

categorize calls; Identifying training examples was impossible

Create searches using key phrases to categorize calls by

management objectives:

1. Improve training programs to address customer objections

2. Monitor call handling techniques and script compliance

3. Evaluate the overall call monitoring process

• 59% increase in lead conversion

• 100% agent compliance with TCPA regulations

• 90% reduction in manual monitoring resources

Problem:

Solution:

Actionable

Results:


Implementing Speech Analytics

• Upfront knowledge is necessary for a quick path to improve ROI

– Know what to look for BEFORE you begin

– Understand management objectives, company goals

– Assess the need of all departments, not just the contact center

• Employ accurate resources to implement and manage

– Integrate into daily job functions, not a replacement

– Speech analytics is only as good as the hand guiding it

• Analyze for strategic change, improve efficiency, and profits


Businesses Are Adapting & Adopting

• Technology will automatically monitor how your contact center is

doing, and deliver that data you need to make changes

• Leveraging data contained in voice conversations

will lead to a healthier bottom line:

– Companies in tune with customers' needs

experience a 28% year-over-year increase

in revenue

– 40% say the overall customer experience

is a key driver to spend more with a company

– A 10% increase in customer retention levels

results in a 30% increase in the value of the company

Sources: Oracle Report: Why Customer Satisfaction is No Longer Enough; Bain & Co.


Benefits of Speech Analytics

• 24/7/365 call monitoring

• Organize call analytics in a systematic, automated way

– Takes a fraction of the time that manual monitoring consumes

• Leverage insights to implement process changes, improve contact

center performance

• Capitalize on opportunities to improve speed and agility in the

contact center

• Turn contact center into profit center


CallFinder – Record, Search, Analyze

• 25 years in telecom, marketing technology solutions

• Cloud-based call recording and speech analytics solution

– Affordable, flexible, and scalable

– No hardware or software to install

• Fast audio processing

– Phonetic indexing technology for precision

– Indexes thousands of calls within minutes

• One-to-one onboarding process with a specialist


Sabrina DeRose

CallFinder Account Manager

[email protected]

www.linkedin.com/in/sabrinaderose

Let’s Connect!

mailto:[email protected]

http://www.twitter.com/callfinder

http://www.twitter.com/callfinder

http://www.mycallfinder.com/blog/

http://www.mycallfinder.com/blog/

https://plus.google.com/u/0/b/101556086165809799253/+Mycallfinder/posts

https://plus.google.com/u/0/b/101556086165809799253/+Mycallfinder/posts

http://www.linkedin.com/company/callfinder

http://www.linkedin.com/company/callfinder

Insert Cover Image Here

Title Goes HereNick SianisContact Center Consultant

inContact

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Is analytics a good fit for the

mid-market?

Source: ContactBabel's The US Contact Center Decision-Makers’ Guide 2014

25

26

Qualify and quantify the reasons for and the topics discussed in every call:

– Various outcomes (sales, cancellations, etc.)

– Products or services

– Complaints

Delivers high-level results which can be further investigated.

Call Categorization

27

Very effective20%

Effective53%

Neutral20%

Ineffective7%

Effectiveness of analytics for understanding why customers call


28

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• Categorize recordings based on business drivers or call resolutions.

• Use categories that encompass nearly every interaction.

• Also leverage sub-categorization.

• Use high confidence thresholds to eliminate false positives.

Categorization Best Practices

30

31

Very effective40%

Effective53%

Neutral7%

Effectiveness of analytics for targeting agent training needs


32

Very effective73%

Effective27%

Effectiveness of analytics for quality monitoring


33

• Typical common practice to examine customer escalation requests

• Identify escalated customers.

• Find out why they need to be escalated, and then take steps to fix that.

• Reinforce training. Are agents executing the behavior that they’re trained on?

Use Case: Escalations

34

• Set up a report for all new hires, presenting only their calls where a certain action wasn’t followed.

Use Case: New Hires

35

• Coach to desired results.

• Imperative that Supervisors/QA/Leads are coaching to the results delivered from analytics.

• Measure your effectiveness.

Training Best Practices

36

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• What are you going to get out of it?

• Can you take action on the result?

• What are you going to do with the data?

• What actionable decisions or influences are going to be made based on the results?

Questions to Ask Yourself

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• Speech analytics is more of an art as opposed to a science.

• Configuration time is key.

• Focus your efforts where you’re going to get the most return. Get some early wins under your belt.

• Analytics uncovers issues, but it’s up to you to actually fix them!

Key Takeaways

– Cloud technology pioneer – 100%

focused since 2003

– Unparalleled customer satisfaction

– Supported 100% by inContact

experts

– 2,600+ implementations

– 150,000 agents

([email protected])

We Live the Cloud and We LOVE WFO

39

Roundtable: Analytics and Business Intelligence

February, 2014

CRMXchange

Q&A

Callfinder: WWW.MYCALLFINDER.COM

inContact: WWW.INCONTACT.COM

Verint: WWW.VERINT.COM

Documents

Roundtable: Analytics and Business Intelligence February ... · Access to data necessary to shift marketing strategy based on customer wants – Package multiple procedures to meet