A Profitable Feedback Loop
Retaining existing customers can be anywhere from 5 to 25 times more economical than acquiring new ones.
Knowing your customer is essential to this kind of success. In order to intelligently utilize the customer data you have, you first need to have a clear idea about who your customers are and what it is they want. Insight into their preferences, whether related to purchases or mode of communication, gives you the power to carry out efficient service efforts.
By equipping agents with the soft skills training needed to proactively elicit what’s working and what isn’t during customer touchpoints you can make the most out of your CRM and data management tools.
Five questions you can tell you a lot about your customer.
- How to better meet their needs
What products, services, or experiences do they find most beneficial? Is there some product or service they would like to see you add to better support them? Not only can you find out their needs in terms of goods and services but also in conversation preferences. Meeting customers where they are greatly improves the customer experience, and surveys go a long way here. It’s a game-changer to be able to use CSAT surveys at the end of a call because it allows you to segment and analyze feedback by agent and by interaction type.
- Customer satisfaction
What kind of experiences make them feel happy, frustrated, or blah? Knowledge about what went wrong or right on any portion of the customer service path provides insight into how you can better serve your customers. This feedback helps you finetune products and services you offer. It’s also hugely beneficial for training purposes. Using a call and screen recording tool that leverages AI can be even more meaningful in this regard because you can actually analyze speech for customer sentiment.
- Your value to your customer
Why do your customers value the product or service you offer? Is there a particular service that if gone, so would follow your customers? Knowing these things about your own offering helps make informed decisions about what projects to sustain or cut. Furthermore, knowing why your customers remain loyal is a good way to improve customer relationships. If your customers highly value something you’re doing, do it more!
- Challenges faced
Simply asking where you can improve either during or post-interaction can yield a lot of insight. Wanting to know what holds your customer back from achieving satisfaction not only shows empathy but gives you insight into how to better serve them. Maybe your customer has a busy schedule and simply can not be on hold for longer than five minutes. This might push you to investigate IVR systems that can improve customer wait times when there is high inbound volume in your customer service center. Maybe it’s time to start thinking about virtual agents that encourage self service.
- Why us?
While this might seem like a self-serving question, it is very helpful to see which strategies are working and, equally important, which are not. It’s also key to determining how you’re offering and service style is unique. Asking your customers “why us?” helps you identify what is working and what is broken. If you are aware of strategies that aren’t working you can save time and money by putting an end to them. You can also find out where you excel and do that activity better and more.
Multichannel customer satisfaction surveys can be tailored to meet your curiosity about your customers. They provide a simple and effective way to gather knowledge about your customers that is important in getting to know them.
But, knowing your customer doesn’t end there. Direct feedback is great. But, as my statistics professor was wont to remind me, more data points provide a more accurate picture.
Information about your customer can come from literally thousands of sources. Here we explore a few that help paint a better picture of your customer.
Paying attention to social media and how your customers interact with it can provide tremendous insight. You can know current trends and how your customers feel about them.
Social listening gives you the information you need to make persuasive and relevant pitches for upselling. When customers see how in tune you are, this builds trust in your ability to meet their needs.
Understanding how and which customers engage with your site can help you make decisions about your outreach strategy. You webchat interaction analytics is a powerful tool for this type of data acquisition. It can tell you where customers accessing your website are from, how they came about getting to your website and even evaluate the performance of your knowledge base content. This can help you better decide what queries can be automated, what kinds of campaigns to pursue and for whom, and how to improve customer engagement across channels.
Contact history, of course, tells you how your customers have reached out in the past. But, it can also help you anticipate what they will need in the future. Some types of campaigns go hand in hand with certain channels. Access to contact history gives you intuition for how to best serve your customers now and in the future.
What about silos?
Collected data is put into silos. Sometimes data is put in a silo because it was collected by Team A. But, at the same time, Team B has collected another piece of helpful information about this same customer and stored it in a different silo. There is no cross silo talk between Team A and Team B. You may have begun to realize where the problem lies if our goal is to put together a complete customer profile.
To get a full portrait of your customer, data needs to be allowed to flow seamlessly across channels and breakdown silos.
Your CRM is an agent’s master key
Your CRM is an incredibly useful tool that gives you the power to view and analyze data regardless of where it is stored. In fact, a CRM system stores data about your customers in one unified place, letting customer information intermingle and create a fuller picture of your entire operation.
A CRM functions as the engine of any contact center, and when you layer in artificial intelligence, digital channel insights, and customer preferences you can put agents at the epicenter of each interaction while your customers guide the way to a more intuitive service model that works for both parties.
LiveVox is a leading provider of enterprise cloud contact center solutions, managing more than 14+ billion interactions a year across a multichannel environment. With over 15 years of pure cloud expertise, we empower contact center leaders to drive effective engagement strategies on the consumer’s channel of choice. Our leading-edge risk mitigation and security capabilities help clients quickly adapt to a changing business environment. With new features released quarterly, LiveVox remains at the forefront of cloud contact center innovation. Supported by over 450 employees and rapidly growing, we are headquartered in San Francisco with offices in Atlanta, Denver, Bangalore, and Colombia. To learn more, schedule a demo today.