Customers expect the best service and product from their service providers and one way to ensure that you provide the high quality service is by use of customer engagement analytics. If an entity does not provide service that is not considered satisfactory by its clients it may lose its customer base. Therefore, service providers need to have an insight of their customers’ view of their solutions by accessing information on their customers’ interaction with their agents in the web or via text or calls.
This is done by the use of software technology that records, maps out and analyses all transactions undertaken by their customers while interacting with the organization. This process is known as customer engagement analytics and it is essential for an organization’s sales, marketing and service departments. The information collected by this process allows an organization to gauge the customer satisfaction of their clients with their contact center and their brand. It will then enable the organization to come up with better solutions and continuously improve their services.
How Do Customer Engagement Analytics Work?
Customer engagement analytics is a process that is executed by the use of highly sophisticated software technology. It starts with the capture and compilation of all the customer interaction and agent activity data. All the data is then recorded and stored as a repository where all the information collected can be accessed with ease. The data is then organized, profiled and analyzed in order to come up with the insights required for decision making.
The insights deducted from the information collected are then used to establish predictive models and strategies aimed at improvement of the organization’s system and the behavior of their agents. This process is mainly aimed at continuously improving their sales, marketing and service departments. These are the revenue producing departments of an organization, making this process essential to any organization.
The main components of Customer Engagement Analytics
1. Interaction Analytics
Interaction analytics captures records and analyses text and even speech interactions between the customers and the organization’s agents. The use of highly sophisticated software technology in this process such as innovative speech hardware and software that can detect different emotion and vocal cues within speech interactions has led to accurate insights. While automatic interaction clustering is used in decrypt text interactions and uncover any emerging hot topics before they become a problem.
2. Contact reasoning
This system also identifies emerging issues affecting customers early by assigning reasons for all customer contacts to the organizations’ agents. This enables the entity to come up with a solution before it becomes widespread.
3. Repeat Contact Sequencing
This is the identification of the customer in each interaction in order to determine repeat contacts. This will guide the management in finding the cause and solution to the problem hence reducing the frequency of repeat contacts. This process also increases first call resolution.
4. Predictive analytics
This is done by the detection and analysis of cross-channel behavioral patterns. By doing this, the entity can be able to make accurate predictions on the future behaviors of their customers. For instance, an organization can determine through analytics that most of their customers after purchasing a certain product call for guidance on the activation of the product. The entity could save a lot of time by providing their customers with a guide on activation of the product on purchase of the product.
The functions of customer engagement analytics in an organization
This system enables an organization’s management to:
1. Oversee online customer sessions, interactions and transactions in the system.
2. Establish customer behavioral patterns, therefore enabling the company to prioritize its customers in accordance with their current and future potential value.
3. Correlate customer behavior to an entities performance.
4. Correlate agent activity to an organization’s performance.
Benefits
Organizations having this system have a competitive advantage over their competitors. There are countless benefits to having a system that performs this process. The benefits include:
Customer value
This process provides insight to the organization on their customers’ needs and wants. Moreover, it also enables the service providers learn their limitations. This provides the organization with the opportunity of improving their brand and services according to their customers, thus ensuring customer satisfaction.
Better customer experience
It also provides insights on the performance of their agents during transactions with their customers. This insight helps the management come up with policies that will improve the behavior of their agents in ways that best fit their clients. This improves the customer’s experience while dealing with them and also their satisfaction.
Customer loyalty
This system enables the organization to stay in touch with their customers’ needs, thus providing constant satisfaction and satisfied customers tend to come back for more. This causes customers to become attached with the organization’s brand.
Good image
Entities with superior services and satisfied customers build a good reputation for their product and also their brand. This is achieved by using this system to provide what the customers need.
Increased sales
Improvement in the brand and services provided by an entity brought about by this system causes a significant increase in demand for the organizations products or services. This will in turn lead to increase in sales.
Conclusion
Customer engagement analytics is truly an essential system that needs to be incorporated in every organization. It has proved to be one of the most efficient ways to maintain a mutually beneficial relationship between an organization and its customers. This system provides entities with the ability to know their customers thus they are able to cater for all their needs and provide solutions to any problems that they might have encountered during their transactions with the organization.
This builds and maintains customer loyalty, a good organizational reputation and enlarges the entity’s customer base. With this system, an organization can improve all its internal policies and systems making it more efficient. This is because it provides them with all the information needed to keep their clients happy and satisfied. It may seem expensive in the beginning but customer engagement analytics provides entities with the platform to increase their sales and reduce their cost by a very high margin within a relatively short period of time.
