Multi Channel Feedback

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1 Multi Channel Feedback Listening to the Voice of the Customer Presenter: Derek Brown VP EMEA Enterprise Feedback Date: 8 th November

2 Why is Customer Experience Important? There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else. Sam Walton Founder, Wal-Mart 2

3 Voice of the Customer So why do so many organisations care about the Voice of the Customer? 3

4 Because it creates Loyalty 4

5 Customers Are Telling Us What they Want Social Media Surveys Calls s Web Self-Service Chat 56% 24% 15% 5% Source: Ovum 5

6 Customer experience leaders enjoy a double-digit advantage in customers willing to buy more from them, reluctance to switch business away from them, and likelihood to recommend them Source: The Temkin Group 6

7 Contact Centers Talk to Customers All Day, Every Day 7

8 Here s a Little Secret. Most VOC programs do NOT leverage the rich customer conversations that happen every day in the contact center 8

9 ... VoC programs rely almost exclusively on structured feedback 9

10 Contact Centers Now Have An Opportunity.to unlock the rich data held in unstructured phone calls, s, & chat 10

11 Contact Centers Now Have An Opportunity...And connect it with structured and projectable data from surveys 11

12 Enabling organizations to listen and act on the truevoice of the Customer 12

13 Customers Generate Huge Amounts of Data 250 live agents create over 10,000 hours of conversation every week Rich and relevant content, unsolicited and unbiased Products and Services Revenue opportunities Process improvements Retention opportunities Sentiment and everything else your customers wish you knew! 13

14 Through a Variety of Channels I friended you I called your 800 number I tweeted you I sent an I chatted with your agent I visited your local branch I visited your Web Site I completed your online survey 14

15 BIG DATA 15

16 How Do You Make Sense of Big Data? 16

17 Verint Solves the Big Data Problem By applying advanced analytics to large volumes of structured and unstructured big data 17

18 With Best-in-Class VOC Solutions Enterprise Feedback Management Speech Analytics Text Analytics 18

19 Set the Vision for Customer-Centricity Competitive advantage derives from consistently using the insights generated from customer feedback, improving processes, and then continually improving those processes by measuring results and refining. Source: Gartner 19 19

20 Why You Need Senior Commitment Customers want consistently excellent customer experiences A Bottom-up passion for providing great customer service only takes you so far C B F I K Departments have competing objectives, metrics and motivations D E G H J 20 20

21 The Curse of Silos Each silo builds performance standards limited to their area Inside a silo, an employee gets success from singular focus and compartmentalisation Inside a silo, squeaky wheels get priorities over oiling the gears Silo needs often in conflict with needs of other groups Source: Jeanne Bliss, author, Chief Customer Officer 21 21

22 Voice of the Customer Objectives Industry leading customer loyalty Build a customer-centric culture 22 22

23 Multiple Customer Feedback Mechanisms Customers interactions happen across a wide variety of channels. Leveraging customer insight within the Enterprise provides a better way to measure operations and bridge to customer experience. 23

24 Disconnected Listening Calls Agent Notes IVR Web Social Media Surveys Chat Customer Care Operations Sales & Marketing Management Product Management Customer Experience Human Resources 24

25 Meeting the challenge Delivering the leading market solutions to centralise multi-channel feedback across the Enterprise. Analyse and interpret the data and help organisations operationalise it to support current business objectives and drive future strategy. 25

26 Uniting Customer Feedback Unstructured Feedback Structured Feedback Open-ended comments Call Recordings s Chat Interactions Social Media Text & Speech Analytics Unstructured Feedback Structured Feedback & Web Surveys Closed ended questions Limited response options Transactional & Relationship surveys CRM data Rich insights, but not projectable data Projectable data, but you don t know motivations 26

27 Analytics Organisations leverage analytics to better understand the operational metrics that require improvement in order to make the change happen. 27

28 Unified Analytics Key brand NPS scores experience metric dropping dropping quickly Loyalty & Brand Equity KPI s at a glance Identify retention issues 28

29 Clicking on word cloud analysis allows drill through to actual customer comment 29

30 Value of Integrated Listening Text analytics looks into survey comments to show why they re not satisfied Conduct new search in call center recordings to see what people are saying about these topics EFM surveys show spike in customer s answering Not at all Satisfied Make operational changes and survey selected panelists to determine their effect 30

31 Case History: Progressive Insurance 2010 annual revenues $15 billion U.S. 4 th largest auto insurer in the U.S. Largest seller of motorcycle insurance Leader in commercial auto insurance 31 31

32 Case History: Progressive Insurance Looked at 4 key experiences the accident site experience the "repair/claims settlement" experience the "getting an on-line quote" experience the "share my driving habits" experience Used research, interviews and online community feedback to drive changes 32 32

33 Case History: Progressive Insurance Accident Site Experience Created branded Immediate Response vehicles to go to accident scenes that reassures customers Repair/Claims Experience Created Concierge Service that allowed the customer to have control in the claims process Online Quote Experience Allow individuals to make comparisons to other insurance quotes on their website Now they know when they lose to a competitor & why Share My Driving Habits Experience Allow customers to share their driving habits online to take advantage of additional discounts Fastest growing U.S. auto insurance company 33 33

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