A recent McKinsey & Company report tells us that maximizing data lets contact centers:
- decrease average handling time by up to 40%,
- significantly reduce employee costs, and
- increase self-service containment rates from 5 to 20%.
Despite this, some call centers are slow to incorporate analytics – because they don’t have integrated data across channels, or they’re not able to link analytical insights to action – whereas more progressive customer experience (CX) providers use Artificial Intelligence (AI) or Machine Learning to train personnel and/or create intuitive interfaces that respond to every customer’s unique needs.
For instance, using comparative data analytics, a credit card company can learn that, out of 10 million customers, 3 million call their support system every month to make payments, because of issues with interactive voice response (IVR). Comparing customer data across multiple journeys will let them quickly identify the root cause of customer frustration, then focus on addressing and finding solutions to the IVR system.
While collecting data is a key factor for successful CX analytics, it’s just as critical to be able to adapt strategies around the analysis. A leading subscription-based retailer, for example, tracks what a customer is in the market for, what they purchase and return, and why these transactions occur. Then they’re able to adjust future selections and logistics, to serve their customers better. In other words, CX analytics can not only solve problems, but create competitive advantages.
Many airlines struggle to deliver positive CX and overturn the impression that passengers are seen as no more than part of the ‘herd’. Analytics are now easing that struggle, with smartphone apps tracking baggage throughout flights, translation technology interpreting for multilingual passengers, and AI voice assistants delivering a more personal experience during check-in and other automated processes. In an industry where customers can be lost forever after one bad experience, CX analytics are becoming a crucial brand differentiator.
So analytics can not just substantially improve operational CX performance, but hugely contribute to ensuring longer customer lifetime value, by:
- identifying problems and opportunities,
- helping define brands to further connect with their target markets, and
- shaping customer-centric strategies for continued growth.
Inspiro helps businesses grow by creating compelling, memorable experiences. And CX analytics help us do even more, to help our partners achieve even more – more customers, more sales, more value.