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IVR Routing and Speech Analytics

Blog Post created by robertstanley Employee on Dec 6, 2017

Businesses face a variety of challenges every day from increasing sales to maintaining a good reputation and establishing a team culture. Perhaps, no challenge is as important as creating an exceptional customer experience for individuals that call your business. Manifesting a positive experience for every customer is the key to increasing sales, maintaining your reputation, and retaining great employees.

 

Plenty of businesses know customer experience is essential, in fact, 89% of marketers expect it to be their key differentiator in 2017. Now is the time to find a way to fine-tune your customer experience strategy if you want to stay ahead of your competition. Customer interaction analytics, call management, and IVR routing are some of the solutions businesses use to improve the customer experience.

 

What is IVR?

IVR is short for interactive voice response and is an automated call answering system. When customers call businesses with IVR, they answer a series of questions using voice recognition or their touch-phone telephone keypads. Ideally, the IVR system collects this information to determine the type of the call and routes the caller to the department or individual best-fitted to handle the call.

 

What are the Benefits?

When IVR is set up correctly, it benefits to your business and customers.

 

  • Reduce on-hold time.

IVR routing gives customers options the minute they call you instead of having to wait for an operator to pick up.  In addition, if there is a wait time to connect with the appropriate representative, IVR offers a callback feature. The callback feature lets the caller claim their place in line without staying on the phone. They receive a call when the representative is free from previous calls.

  • Improve first call resolution rates.

There is nothing more frustrating to a customer than calling a business; waiting for an answer, only to find out the answer didn’t help them. In cases like these, customers usually call back angry. IVR helps manage incoming calls, so they get to the individual most qualified to solve their problem.

  • Offer service around the clock.

Some IVR systems automate various tasks or call types without requiring customers to speak to a live agent. You can customize your IVR to share balance information, payment due date, or a website URL where they can find their answer.

  • Personalize every call.

One feature of IVR is the caller id software. Representatives know who is on the phone and why there are calling before they answer. This allows them to personally greet the caller when they answer.

  • Connect customers to the right department.

Collecting information about the reason for the call allows the IVR system to connect callers with the right department and get their question resolved the first time.

  • Increase customer satisfaction.

When calling a business doesn’t seem stressful or require a lot of effort, customers are typically more satisfied with their experience. Satisfied customers are more likely to return for future needs, refer others, and share their experience with others.

  • Eliminate wasted resources.

Time and money are two critical components every business needs to continue to grow. Wasting either can be detrimental to success. IVR systems increase call routing efficiency and eliminate time spent by representatives handling calls beyond their qualifications.

  • Increase company profits.

All of these benefits combined directly impact your business’s bottom line.

 

IVR & Speech Analytics: The Perfect Duo

Some businesses think using either IVR technology will answer all their customer experience struggles. While an IVR system offers many benefits, delivering exceptional customer experiences across the entire customer journey requires more.

 

Speech analytics gives businesses the ability to transcribe all customer interactions into one searchable database. With speech analytics, businesses can pinpoint root cause of each call and trends across all calls without supervisors having to review recording or review entire transcripts. If an influx of calls occurs because customers are struggling with using a new product, a business can quickly identify this. In turn, they can create new product training pieces to fix the issue and eliminate the excess calls.

 

Speech analytics or customer interaction analytics lets you also look at e-mail, live chat, and text messaging. Seeing data from all touch points gives you a well-rounded view of your customer, their needs and their opinions on products and services.

 

Final Thoughts

Your customer experience tells customers exactly what they can expect from you moving forward. If it’s anything less than desirable, your business reputation and success will falter. Adding IVR and speech analytics to your call center operations will improve the customer experience as well as save you time, money, and increase your customer service efficiency.

 

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