Customers expect the brands they favor to know who they are. They also expect them to be able to call upon past information to quickly resolve their issues. Yet, if companies don’t have strong analytic capabilities, they will have a hard time coming up with the insights they need to meet or exceed these expectations.
To stand out as a brand that offers excellent customer experience—resulting in heightened customer satisfaction, acquisition and retention—requires advanced contact center analytics capabilities, enhanced application functionality, and an omnichannel communications system that includes social and mobile.
With these technologies, contact centers will become insight centers that create new experiences that foster deeper customer relationships and improve customer loyalty. These are the rewards of strong analytics capabilities. In fact, Forrester research indicates that the companies that are able to harness customers’ digital data will increase their revenue from $333 billion in 2015 to $1.2 trillion by 2020.
Closing the gaps
Seventy-four percent of firms say they want to be data-driven, but only 29 percent say they are good at connecting analytics to action, according to Forrester research. The challenges range from funding to talent to access to feedback to fragmentation.
Investments in contact center technology tend to lag since these centers are often perceived as cost centers, not profit centers. In addition, many businesses don’t have the resources to create their own data teams. Another hurdle is limited access by customer care associates to all the channels customers use, limiting full understanding of customer interactions. Lastly, contact center staff aren’t typically privy to customer experience survey results or analyses beyond those directly impacting the contact center, which, again, limits visibility into customer needs. Last but not least, contact center tools are not integrated with other enterprise tools, leading to siloed data and misaligned business processes.
A transformative strategy should include implementing analytics tools, e.g., speech and text, journey and/or real-time process automation, to meet enterprise objectives, such as improving the customer experience to drive revenue growth.
According to a TeleTech report, businesses need to take several critical steps to enable their ability to continuously collect data across channels, as well as test and analyze it to find actionable insights:
- Map existing contact center data flows: Based on preferred, pre-defined customer experience journeys, identify gaps in customer knowledge that could be filled by integrating data from other internal and external sources.
- Store data in a centralized customer data repository: Ensure processes are in place so that everything that is known about customers—from attributes to attitudes to behaviors to values—can be leveraged from one location. A robust CRM tool, for example, might suffice.
- Analyze and model the consolidated data: Orchestrate specialized actions to maximize opportunities, such as improvements to customer satisfaction while also achieving service-level agreement designations. Include testing to support continuous improvements.
- Develop automated reports and dashboards: Display key metrics pertaining to the various interactions customers have with the brand, as well as the downstream behaviors, e.g., product purchase rates and customer churn, that will impact the business.
As you upgrade your contact center, keep in mind that analytical tools can’t work in a vacuum; rather, they reflect the quality of the data that is applied. They also require human understanding to garner more instinctual insights than the data can convey.