Warren Buffett is renowned for his business acumen. If he analyzed your contact center business, would he see you’re moving your business in the right direction?
How’s your contact center trending?
If Mr. Buffett was running your contact center, he would want to see three fundamental business trends in the contact center, driving increased profitability for the company:
- Increasing revenue
- Decreasing expenses
- Improving customer loyalty
Revenue is the life blood of every business! Sure, you’ve got a sales team today. But can you explain how your top sales performers can close so many deals? How they build rapport with a caller or discussing product features? And asking for a decision? Can you statistically prove how your top performers do it? And then can you teach these winner sales techniques to the rest of your sales team?
If you’re Warren Buffett, your contact center has to be as efficient as possible. To reduce your operational expenses, first prevent as many calls as you can by leveraging proactive contact. You can also identify which calls your agents are taking today that could be prevented through improved self-service in other channels, or better first contact resolution?
Customer loyalty is fantastic for business! Everyone, including Warren Buffett, knows that it’s more expensive to acquire a new customer than to retain an existing customer. We also know that a primary driver of loyalty is customer effort. New metrics are on the rise in contact centers worldwide, including Net Promoter Score, along with Customer Effort Score, both are shown to be strong indicators of loyalty. The bottom line: Make it easy to do business and customers will remain loyal and recommend you to others. Do you have an ongoing measurement of customer effort or NPS? Do you know the top reasons your good customers abandon you?
Warren Buffett Would Demand Insights and Action!
You already own the data you need to answer the above questions – it’s the audio conversations between your customers and your agents. Actionable business insights can be drawn from processing thousands and thousands of caller-agent conversations. This audio data is incredibly valuable and can be used to help getting your contact center trending in the right directions:
- Increasing Revenue by statistically capturing how your top sales performers work, what topics and techniques they use to close so many deals. Teach this to your other sales agents.
- Reducing Expenses by listening to find why customer contacts are not resolved “the first time”. Find more opportunities for self-service. Shorten calls by providing the information your agents need today but don’t have. These missing pieces are in the audio data.
- Improving Customer Loyalty by listening to conversations where Customer Effort is high. Find ways to convert these high-effort interactions into low effort customer touches in the future.
Speech Analytics software “listens” to stored audio conversations between your customers and your agents. The good news is that you can easily analyze this existing audio data with speech analytics on your premises or in the Cloud.
To learn more please visit Genesys Speech Analyics.
Thanks for reading!