By Andrew Kokes, HGS Senior Vice President, Global Marketing
Earlier this year, HGS released a white paper on this year’s top 10 trends in customer service. Over the next few months, we’ll dedicate a blog to each of these customer experience game changers. Here, we dissect Trend No.5: Customer Intelligence highlighting strategies designed toward personalization and a more optimized CX to ultimately drive a higher CSAT and NPS score for your business.
This year we have seen real-time voice of the customer dashboards increasingly used to enable service professionals to keep a pulse on customer sentiment and feedback. This customer intelligence will help customer care centers proactively identify a PR crisis waiting to happen, capture new ideas, and uncover quality or warranty issues, spot trends, and most importantly, personalize engagement with the customer.
At the heart of customer intelligence is the need to truly know and understand the customer, personalize engagement, empower self-service, and drive consistency across channels. It drives to the core of how businesses intend to compete now and into the future. All things being equal with product features and pricing, customer experience (CX) is the opportunity to positively set a brand apart in the new economy. However, there is a significant gap in expectation and experience. According to research, only 8% of consumers think brands are doing a good job at engaging and providing them with the service experience they deserve. Better use of data is an approach that most customer experience professional are turning to. A closed loop approach to analytics can convert large amounts of data into actionable insights to begin to address this CX gap.
But there are so many questions that structured and unstructured data is prepared to answer that it is confusing trying to determining where and how to get started. For example:
- What data do we need?
- How will the analysis be used?
- What analytics tools, techniques and skills do we need?
- Who does the analysis?
In an HGS webinar, “Making Analytics Actionable,” Katrina Menzigan of Everest shared some really useful insights. As the outsourcing industry matures, the expectation of an outsourcing partner is shifting from cheaper, faster, better – with a huge focus on arbitrage and “my mess for less” to better, faster, cheaper – and a growing imperative for achieving outcomes through process improvement on behalf of the brands that outsourcers serve.
This is happening, in no small part, due to the adoption of various forms of tactical and strategic analytics. Sophistication of the approaches to data varies and increases as we strive to achieve bigger business impact, but the return on investment is very real, including:
- Helping make sense of structured data… with very basic reporting to help manage the business reactively
- Helping to pull in less structured data to understand key influencers by product or offering categories
- Forecasting utilization and consumer behavior to assist with planning
- Providing the business direction to do things like engage “at-risk” consumers to encourage long-term loyalty
While all industry stakeholders agree that analytics holds a lot of business impact potential, getting started and maintaining can be challenging. According to a recent IBM/MIT study, 38% of organizations don’t understand how to use analytics to improve business. The adoption barriers most organizations face are internal hurdles associated with:
- Not understanding
- Not having enough time
- Not having the right staff in-house
- Internal operating silos that aren’t prepared or able to share meaningful information.
Here are some case studies where HGS has been able to support global businesses to adopt and successfully deploy analytics to make meaningful continuous improvements in their businesses, such as:
- Achieving best-ever NPS scores
- Reducing claims processing and turnaround time
- Improving the use of automation and reducing the cost to serve while improving customer experience
My colleague Parikshit Kalra recently hosted a webinar titled, “Using Voice of the Customer Analytics for Change,” where he talked in detail about how these customers leveraged both structured data reporting and unstructured data to answer some non-traditional questions and drive amazing results.
Leveraging actionable insights, HGS is optimizing CX… helping our clients to become more competitive. Driving Results. Consistently.