LivePerson Solution Brief. LivePerson Insights A Deep Understanding of Customer Needs to Improve Your Bottom Line

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1 LivePerson Solution Brief LivePerson Insights A Deep Understanding of Customer Needs to Improve Your Bottom Line 2014

2 Deploying Since it is a part of the cloud-based LiveEngage platform, organizations that are chatting with customers simply need to activate LivePerson Insights in order to analyze those conversations. A dedicated team of specialists is available through the LivePerson Customer Success organization. They can help you configure the solution, set up the appropriate reports, and import any external data you would like to include in the analysis. With a variety of built-in templates, it is easy to customize LivePerson Insights for your business and its objectives. is a powerful text and sentiment analytics tool that enables organizations to collect, listen to, and act on the Voice of the Customer and the Voice of the Agent. Digital engagement interactions are analyzed using Big Data techniques Natural Language Processing (NLP), which identifies key concepts and ranks each clause in a conversation according to an 11-point sentiment scale. This analysis can be customized according to the questions you want to answer, using built-in industry and classification templates. can also integrate other structured and unstructured data into its analysis, to provide a consolidated view of customer sentiment from multiple sources. Why? If your organization uses live chat, you probably look to structured measurements such as customer satisfaction scores, conversion rates, and average time to resolution to monitor how well the channel is doing. You likely supplement these metrics with some analysis of live chat conversations: for agent coaching, to gauge customer feedback, and/or to understand why visitors get stuck at a certain point in the online buying process. These efforts bring value to your organization, but they are incomplete for these reasons: Structured data only tells you so much about how customers feel about your company and your products. Manual analysis of conversations is time-consuming, only covers a small percentage of total conversations, and may be prone to subjective interpretation. combines structured and unstructured data to get a full picture of the Voice of the Customer and the Voice of the Agent. Part of the cloud-based LiveEngage platform, is a turnkey Management solution that can be up and running in a few days. And the solution is intuitive and easy to use even for non-experts. Team members across multiple departments can easily access and extract actionable insights from live chat conversations a variety of other data sources that you can import into the platform. This ultimately translates into a richer customer experience, products that better meet customers needs, and higher revenue and profits. Tag Parts of Speech & Entities Noun Adverb Verb Adjective Noun Verb Adverb Adjective Understand Clauses & Relationships The fabric was too sheer and the delivery was really slow. 1 2 Extract Facts Sheer fabric Slow delivery NOT Slow fabric Sheer delivery More than one topic can be expressed in a single sentence, and a visitor s sentiment level may differ from topic to topic. LivePerson s Natural Language Processing (NLP) technology analyzes each clause to ensure that all aspects of customer feeback are captured accurately LivePerson, Inc. 2

3 Who can benefit from can provide actionable information to address the central questions asked by a variety of people in your organization such as: A Tail-Wagging A major pet supply retailer wanted to better understand what online and in-store customers were thinking, but existing customer feedback was captured in multiple, disparate data sources. The company used LivePerson Insights to consolidate and analyze structured and unstructured data from live chat conversations, Net Promoter surveys, and online product reviews. The results were wide ranging: Insights into product quality: Customers considered a number of private label products to be low in quality and even dangerous. Feedback was passed to brand managers and product manufacturers for immediate action. Identifying website improvements: Thirtynine percent of abandoned shopping carts resulted from website issues, the most common being with PayPal requests. The IT team was tasked with finding a resolution. Helping in-store customer service: A significant percentage of detractors who contacted online support felt they did not receive sufficient help from store associates, but some stores performed better than others. Specific concerns were passed along to each store. 1. Call center operations: How do I improve customer satisfaction and prove that we are more than just a cost center? 2. Sales and marketing: How can we use customer feedback to continuously improve our campaign effectiveness? 3. Product management: How can we develop products that are aligned with customer needs? 4. /Voice of the Customer: How do I create targeted programs and understand the customer lifecycle? What are the features and benefits of? gives you access to various features through an easy-to-use interface. From a functionality standpoint, these include: 1. Eleven-point sentiment scale: There is a difference between a good meal (+1) and the best meal I ve ever had (+5). And different phrases in a sentence can reflect different topics and sentiment level. LivePerson Insights provides the most robust sentiment scale on the market, scoring every idea separately rather than simply providing one general score. 2. Easy insight extraction: You can display analysis in a variety of graphical formats, including word clouds, heat maps, dashboards, dual-axis reporting, comparative reporting, and more. This variety of designs helps your organization get to the Aha! moment more quickly. 3. Event and theme detection: You identify and categorize themes in your customer feedback and link those themes with customer sentiment. Algorithm-based linguistic variables help every piece of feedback to be connected to the right theme and sentiment level. 4. Root cause analysis: With a click of a mouse, you can find out what is driving volume and sentiment. This helps you identify causes of problems, recognize emerging trends, and take action in a timely manner. 5. Built-in alerts: You can configure to alert you when something changes in a statistically significant way. And contextual alerts help you stay on top of compliance and liabilities, such as I fell in the store and am going to sue. 6. Customizable analysis: You can customize the sentiment scale according to your business and industry (e.g., Great Value might be your private label brand rather than an expression of sentiment). Non-specialists can manage such rules exceptions easily with an intuitive interface. also has technology integration points that enhance the analysis customers get when using it; these include: 1. APIs and connectors: Pre-built integrations with Microsoft Excel, BaazarVoice, Radian6, Lithium, Salesforce.com, Facebook, and Twitter allow for quick and easy processes for reporting and data import. 2. Technology agnostic: is designed to work with structured and unstructured data from any system or application and integrate with any business intelligence (BI) tool. This eliminate the need to rip and replace anything when you start doing analysis through the LiveEngage platform My DSL service keeps being interrupted. I have wonderful antivirus protection. It is very frustrating to use the right user ID and password, and it still fails. That sounds affordable. I can reauthorize after PC Tune UP runs every time, but it is a hassle! You are phenomenal. If a little old lady can follow your instructions, then that is proof of how good you are. But my Internet is down now because of a problem with the password. With, sentiment is scored for each word in a document, and across all documents in the dataset LivePerson, Inc. 3

4 Picture Perfect Digital Engagement at Snapfish by HP Consumer photo service Snapfish by HP deployed in 2012 to get a comprehensive view of the customer experience by analyzing conversations from the company s customer service, sales support, and VIP deployments of the LiveEngage platform. This information is shared with the entire company through a weekly Voice of the Customer report, categorizing the top 10 reasons that customers contact the customer advocacy team. Information gleaned using has helped Snapfish with the following initiatives: Identifying needed website improvements Coaching agents on how to provide the best customer experience Focusing its search engine marketing efforts Recognizing market opportunities for new products and services The company saw tangible results as soon as the first round of website improvements identified by went live. Customer inquiries for order-related issues went down by 60 percent, and order modification requests decreased by 40 percent. What about my other customer feedback data? For many organizations, feedback from CSAT surveys, live chat conversations, CRM notes, online comments, and social media posts resides in a variety of systems that do not talk to each other. These silos not only make pulling data more difficult, but also make it very difficult to get a big picture view of what your customers are thinking. With, you can import structured and unstructured data from a variety of text-based sources into the LiveEngage platform for comprehensive analysis. The algorithms in are powerful enough to examine, categorize, and make sense of all your data. This creates a single source of information that informs the entire organization from product management to customer service, from sales and marketing to business operations. Internal s Surveys Chat External Online Feedback Call Center Voice Recording Web Analytics Customer Data Warehouse Twitter Facebook Social Media Blog Posts Product Reviews Forums & Communities Collect, Transform, Deliver, and Implement Collect all sources in one place Listen in any language Support enterprise scalability and security Create actionable customer experience insights Product Management Operations Customer Care Sales and Marketing Human Resources Executives Structured and unstructured data from a variety of sources can be imported into. This data can be analyzed alongside live chat conversation data and structured visitor data generated by the LiveEngage platform. The result is a comprehensive view of customer sentiment with actionable data that is useful to many teams in your organization LivePerson, Inc. 4

5 Quickening the at Intuit Financial software giant Intuit opted in 2011 to combine the disparate live chat programs for different business units into a centralized service internally known as the Chat Center for Excellence. The newly combined team used Voice of the Agent analysis to identify which behaviors and language enable agents to maximize conversion rates while also achieving the highest customer satisfaction. As a result of this analysis, the management team was able to provide agents with coaching on: Page links to pass to visitors to increase conversion rates Which phrasing is most likely to result in conversion What internal resources best address common customer questions How can help my business? can bring tangible results to functions across your organization. For the Customer Service department, the solution helps with a number of priorities: 1. Containing costs: Identify website changes that increase self service 2. Addressing issues early: Receive real-time alerts of changes in sentiment 3. Improving CSAT: Understand links between customer feedback and internal processes 4. Increasing revenue: Assist sales teams by identifying cross sell/upsell opportunities 5. Becoming a value center: Provide intelligence to help product teams meet customer needs For Sales and Marketing professionals, addresses these fundamental needs: 1. Maximizing lead gen: Use automated alerts to notify sales reps of high-value visitors 2. Creating effective campaigns: Tailor your messaging to the most profitable prospects 3. Listen to the Voice of the Customer: Identify drivers of dissatisfaction and make changes to address them 4. Making sense of feedback overload: Consolidate your customer feedback data, including social media, in one place The results were impressive. Some product lines saw a 20 percent increase in customer satisfaction rates, and the time to resolution for customer problems was reduced significantly. About LivePerson LivePerson, Inc. (NASDAQ: LPSN) offers a cloud-based platform that enables businesses to proactively connect in real-time with their customers via chat, voice, and content delivery at the right time, through the right channel, including websites, social media, and mobile devices. This intelligent engagement is driven by real-time behavioral analytics, producing connections based on a true understanding of business objectives and customer needs. LivePerson is headquartered in New York City with offices in San Francisco, Atlanta, Tel Aviv, London, Amsterdam, and Melbourne. Contact LivePerson, Inc. T: Tenth Ave F: th Floor info@liveperson.com New York, NY LivePerson, Inc. 5

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