Actionable Voice of the Customer Strategy

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1 Actionable Voice of the Customer Strategy 12 th April 2011 Jeannie Quek Business Consultant Fusion Comm. Solution Sdn Bhd WORKFORCE OPTIMIZATION

2 The Importance of Customer Feedback Actionable Voice of the Customer Strategy Key Return Areas (ROI) Key Success Factors in Customer Feedback Implementation & Management 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 2

3 The Importance of Customer Feedback 362 companies surveyed Asked, how many thought they delivered a superior experience to their customers? Response 80% said yes Their customers were asked how many of the companies actually delivered a superior experience? Response did! 8% Source: Bain Brief 03/20/11 - Winning customer advocacy in UK retail banking by Barney Hamilton, Matt Symonds and Elizabeth Hogbin 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 3

4 The Importance of Customer Feedback Internal Metrics + External Metrics = Reality Internal Metrics (Company-driven) External Metrics (Customer-driven) Internal metrics focus on efficiency how well you use resources and meet internal goals. External measures focus on effectiveness how well you meet customer needs and expectations. + = 360 View of Reality 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 4

5 The Importance of Customer Feedback How Customer Feedback is used? Incorporated into continuous improvement processes Coaching of employees Service recovery & customer retention Sales leads generation Management review / benchmarking 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 5

6 The Importance of Customer Feedback Contact Centre Opportunities Sales and Marketing influences 5-35% of customer behavior The Contact Centre influences 65-95% of customer behavior up to 95% of Customer Behavior is driven by contact centre interactions huge opportunity! Source: Gartner 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 6

7 Actionable Voice of the Customer Strategy Voice of the Customer Call centre agents communicate with more customers in a day than many employees will talk to in a year or more. Customers complain, provide product feedback, make suggestions for improvements, and provide compliments. How can this input be gathered, analyzed, and categorised to be meaningful to the contact centre and the rest of the enterprise? 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 7

8 Actionable Voice of the Customer Strategy You should in real-time, Capture the voice of the customer on every relevant interaction Survey customers in in a way that measurably and positively influences sales and customer impressions Understand the key drivers of company and contact center performance/opportunity 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 8

9 Actionable Voice of the Customer Strategy Is a method whereby Agents solicit feedback from customer at the end of every relevant interaction Must be carried out in a way that is non-intrusive, and in a way that the customer is in-control Is a single process that is part of the customer contact that is initiated by the customer themselves, that is relevant to the interaction Positively impact the customer in every way, for every relevant customer contact 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 9

10 Actionable Voice of the Customer Strategy Post Call Transactional Customer Feedback Solicitation Customer Voice Recorder Recorded Calls Agent PABX ACD Customer Feedback Solution Asks customer dynamic questions of the interaction Customer uses keypad to provide feedback Customer can also leave verbatim feedback Business acts on real-time feedback through alerts 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 10

11 Actionable Voice of the Customer Strategy It s much MORE than Surveying!! Senior Executive Team Voice of the Customer Product People Processes Marketing Finance Field Dispatch Workforce Customer Service Branch Operations Product Development Regulatory & Legal Areas of Risk Areas of Strength Areas of Opportunity = Results Any other part of of the organization organisation It s Actionable Enterprise-Wide Feedback 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 11

12 Customer Response Rates Actionable Voice of the Customer Strategy Traditional Customer Satisfaction Survey vs. Real Time Customer Feedback Sampled Static Self-selection Bias Not actionable Not valid or representative Negative impact 85+% Census-level Dynamic Specific to interaction In context Valid and representative Positive impact %-30% 10 0 Traditional Surveys Traditional Results Customer Feedback Actionable Data 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 12

13 Key Return Areas (ROI) Benefits More accurate FCR measurement & how to improve (from customer s feedback) Enhance customer s satisfaction: Reduction in complaints Increase in customer loyalty Feedback to Sales & Marketing Department > product enhancement or new products / services development Reduce cost of 3 rd party survey & ownership of data ROI Reduction in repeat calls > reduce cost per call Reduction in cost of handling complaints Increase in revenue & profit Increase in revenue Measure cost of carrying survey by 3 rd party vendor VS. investment in Customer Feedback System 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 13

14 Key Success Factors PEOPLE Executive Management Support Contact Centre Operation Drivers Change Management Process Agent Training 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 14

15 Key Success Factors PROCESS Ensure the Quantity and Quality of the Feedback Questions > avoid toxicity Data must be relevant to interactions and valid Compare internal call quality monitoring scores with external customer feedback results Identify areas for Calibration 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 15

16 Key Success Factors TECHNOLOGY IVR and Web Dynamic Survey and Intelligent Question strings Elements of a Useful Customer Feedback System Link to Agent s Performance - Drilldown Real Time Alerts Support Multi-Channel Customer Contacts 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 16

17 We have only two sources of competitive advantage: The ability to learn more about our customers faster than the competition and The ability to turn that learning into action faster than the competition. Jack Welch, former CEO of GE 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 17

18 CONTACT DETAILS Fusion Comm. Solution Sdn Bhd Tel: Fax: Mobile: Web: WORKFORCE REINVENTED 2011 FUSION COMM. SOLUTION WORKFORCE OPTIMIZATION 18

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