Perhaps even more impactful, in our world of ‘Trip Advisor’ style reviews and social media, when we have great (or not-so-great) experience with a company, we can’t wait to tell our friends, and often, the company who provided the experience.
According to a recent report by analyst firm Forrester, ‘Seven Steps to Successful Customer Experience Management Programs,’ most organisations are making several key mistakes in their CX measurement programs:
- They aren’t measuring CX quality on an ongoing basis.
- They aren’t tying CX quality to their business outcomes.
- They don’t systematically share and act on their CX metrics.
Today, customers are often well-informed and definitely more cautious than ever – they will turn away from brands that don’t align with their values and needs.
A key issue however is whist the volume of data in the world and available to business is growing rapidly and at an exponential rate few companies are using it to maximum effect.
Business Intelligence (BI) and Analytics are driving business by showing how customers think, what they want, and how the market views your brand - and in the age of Digital Transformation (DX) and Customer Excellence (CX), almost everything can be measured.
Let’s look at just one business communications application -call recording and start with the basics. Call Recording applications can provide the vital reporting of how long it takes your organisation to answer a ringing phone.
Why is this important? Well a recent survey by American Express showed that almost two-thirds of callers said they would wait two minutes or less and 13% said that "no wait time is acceptable.
And when the phone was answered, 57% of people had been so frustrated with the customer service received that they hung up the phone without a resolution.
The importance of good customer data management is becoming more important; New GDPR regulation, effective 25th May 2018 is causing all organisations to review customer data and how they use it.
Call recording solutions can help with a range of compliance challenges, from FCA to payment card industry (PCI-DSS) regulation. Customer records can be automatically updated, meaningful business intelligence gathered, analysed and acted on.
Today the more sophisticated call recording solutions integrate with your chosen CRM system, for example Microsoft Dynamics to simplify search and playback.
Customer excellence will impact the bottom line. According to the American Express Survey, nearly 75% of people say they spend more with a company who has a history of providing positive customer service. And when it comes to customer retention existing customers say the second most important factor that makes them feel that they received great service is the ease with which they are able to work with a company online and on the phone.
So would you know today what response your customers would make if you asked them, ‘How would you rate your overall experience today?’
Oak Innovation is a long-established software house focused on communication management applications. We work with business communication providers and technology partners to deliver recording, reporting and integration solutions designed to increase operational efficiency, support compliance and deliver an exceptional customer experience. We combine technical know-how and creativity to provide solutions that are easy to use and fit with existing IT frameworks.
Our vertical market focus enables us to create unique solutions for a wide range of industry sectors including healthcare, education, finance, recruitment and hospitality. Our team of U.K based software developers are on hand to support unique transformation projects.