Use Omni-Channel Customer Analytics to Reduce Cost, Increase Revenue and Mitigate Risk
In the age of digital transformation, enterprises need to become more customer-centric with a focus on customer satisfaction, customer retention, and risk mitigation. Customers expect a seamless experience across all engagement channels – whether call center, social media, text, chat, email or web/e-commerce.
One way enterprises are becoming more customer-centric is better understanding the customer journey through Omni-channel analytics. Omni-channel analytics integrates contact center voice data with social media, chat, text, email, CRM and sales data to create a central-view of customer experience and behavior. Key benefits for Omni-channel analytics include:
Reduce Operational Costs
- Improve contact center efficiency
- Reduce contact times, repeat callers and call abandonment
- Automate data integrity checks vs. manual sampling
- Improve agent performance
- Improve customer experience and customer loyalty
- Increase CSAT and Net Promoter Scores
- Reduce churn
- Monitor for product quality issues and adverse events
- Detect instances of non-compliance
I. Define Your Goals
- Defining initial business goals upfront not only provides the framework for organizations to measure success but also design solutions that solve line of business problems. Examples of use cases with measurable ROI’s include:
Identifying opportunities for agent coaching, enhancing contact center process and technologies, and digital content optimization which leads to a 62 second reduction in contact handling time ultimately resulting a savings of $750K a year.
- Automating risk monitoring and compliance detection that not only ensures increased coverage but also reduces $150K in annual cost that was spent on FTEs to manually QA.
- Analyze contact sentiment, emotion, and outcomes to measure contact center customer experience compared to CSAT/NPS resulting in an 18% improvement in customer satisfaction and 2% increase in revenue.
II. Where to Begin
Organizations have access to more data sources than ever before. Unlocking true business value from the data requires alignment with business users to define measurable success factors. We’ve seen success with a six step process to kickoff Omni-channel analytics implementations.
- LEARN: A basic understanding of existing customer analytics within the organization is great place to start. Conduct stakeholder interviews and working sessions with business units to understand the use cases that need to be solved. Capture the business objectives and vision and document.
- ASSESS: Identify the available data sources and infrastructure that exist, assess end-user support requirements and application testing.
- DESIGN: Create a data hub to ingest the appropriate datasets, design visualization templates and classification models (for unstructured data).
- DEVELOP: Develop the data integration hub for Omni-channel analytics, develop the industry models and visualization.
- REFINE: Run and refine the classification models with real-world data, assess the classification quality to ensure data integrity and improve the visualization to meet user needs.
- DELIVER: Deliver dashboard analytics as a service, assess the results and provide analysis recommendations to the line of business to produce the successful outcome.
Omni-channel analytics is a proven technique for a modern digital organization to become more customer-centric and better understand their customer’s journey. Whether it’s contact center voice data, social media, chat, text, email, CRM and sales data, Omni-channel analytics helps organizations reduce operating costs, increase revenues and mitigate risk.