NICE Fizzback - Voice of the Customer
- 1. NICE Fizzback Voice of the Customer Roger Hughes, Sales Director 21 June 12
- 2. Agenda NICE’s Vision of Customer Experience Management The NICE Fizzback Solution Business Impact and Value Discussion – Q & A
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- 4. Customers & Impact 38 point NPS gain 30 point CSAT gain Advocacy 26% churn reduction 20% increase in save rate Loyalty 20% increase in upsell 14% reduction in returns Spend 8% brand trust increase BRAND Customer Service Awards OPEX 61% reduction in complaints 23% reduction in OPEX 1m reduction in waste calls
- 5. Holistic Voice of the Customer – Direct, Indirect, Inferred DIRECT Real-Time or Event-Driven Feedback Email Web Phone Social Chat Media INDIRECT Activation Credit Membership Early Card Online Points Days Features Servicin g Payment INFERRED Application Process Stateme nt Fraud Credit Late First Card Fees Change Statement Payment in Credit Limit
- 6. Customer Feedback: A Process to Drive Action ENGAGE CAPTURE All customers at key moments Freeform feedback using customers’ of truth preferred channel ACT INTERPRET Respond rapidly to customer Derive meaning using natural feedback language processing 6
- 7. CEM Framework Customer Outbound Social Home Retail Web IVR Business Installation Care Agents Media Real-Time Subscriber, Transaction, Enrichment Data Artificial Intelligence: Natural Language Processor deriving category, sentiment, products & competitors across touchpoints. Polling: Real-time transactional polling & right-time life cycle polling Intelligent Routing, Alerts & Insights People Process Customer Management - Agent performance management - Understand drivers of dissatisfaction - Intelligent routing for rescue - Agent coaching and compensation - What is causing FCR failure - Closed-loop feedback - Employee engagement - What is driving propensity to contact - Customer retention 7
- 8. NICE Fizzback: Real-Time Direct Feedback…Operationalized VOC
- 9. HOW A CONSUMER ENGAGES IN THE PROCESS
- 10. Julia’s experience ENGAGE All customers at key moments of truth Hi Julia, thanks for calling David in ABC Bank Card Activation Timing: Feedback request sent earlier. We’d like to ask you 2 to Julia a few minutes after her brief questions about your experience? interaction Q1 of 2. Overall how satisfied were you with the service David provided – on a scale of 10 Personalization: Personalized (extremely satisfied) to 1 (extremely dissatisfied)? message mentioning both customer name and advisor name as well as the department contacted Reply Delete
- 11. Julia’s experience ENGAGE All customers at key moments of truth Usability: Responding with “Awesome”, score is Awesome! converted to 9/10 Engagement level: Response rates range between 25% and 55% Send Save
- 12. Julia’s experience ENGAGE All customers at key moments of truth Adaptive: response to first question Great to hear that. – “Great to hear that.” Q2 of 2: Did David recommend you buy Payment Protection Rotating questions: a single Insurance? customer is asked one of the a) Yes rotating questions b) No Volume: is sufficient to divide the analysis Reply Delete
- 13. Julia’s experience ENGAGE All customers at key moments of truth Natural: Yep is coded to Yep “Yes” Process is smooth and conversational Send Save
- 14. Julia’s experience CAPTURE Freeform feedback using customers’ preferred channel That’s great. Scores: Are collected throughout the dialog And finally we would welcome your feedback on the reasons for your ratings or how we could improve Verbatim: Request made for your ABC Bank experience. verbatim comments, so further insights can be gained into Julia’s experience Reply Delete
- 15. Julia’s experience INTERPRET Derive meaning using natural language processing Artificial Intelligence: derives key Really friendly rep gave insight from the freeform comments: helpful advice plus I love the fact I get cashback on Positive about Staff Rapport what I spend and low International fees x Positive about Staff Knowledge Positive about Products / Price Mentioned key word “International” Send Save
- 16. Julia’s experience ACT Respond rapidly to customer feedback Action: Thanks for taking part. Your feedback about your Julia’s score contributes to his bonus experience will be used to help us continually improve David’s Team moves up the league our services. table Julia may be included in segment- ABC Bank based marketing for Travel Insurance offers in the future Lots of great information derived from quick, freeform response Reply Delete Julia feels valued and is ready to recommend!
- 17. Steven’s experience: a different story ENGAGE All customers at key moments of truth Hi Steven, thanks for contacting Brian in ABC Payments As with Julia, a feedback yesterday. We’d like to ask you 2 brief questions about your request is sent the day experience? after Steven spoke with Q1 of 2. Overall how satisfied were you with the service Brian Brian in the Contact Centre provided – on a scale of 10 (extremely satisfied) to 1 (extremely dissatisfied)? Reply Delete
- 18. Steven’s experience: A different story INTERPRET Derive meaning using natural language processing NICE Fizzback interprets Not happy negative sentiment in response, treats the customer as at-risk Rather than forcing Steven to answer 0-10 Send Save
- 19. Steven’s experience: A different story ACT Respond rapidly to customer feedback Sorry you were not Adaptive response is satisfied. immediately sent We would welcome your Question 2 skipped as customer feedback on the reasons for has expressed dissatisfaction your ratings or how we could improve your ABC Move straight to verbatim Bank experience. question to try to find out why Steven is not happy Reply Delete
- 20. Steven’s experience: A different story ACT Respond rapidly to customer feedback Fizzback artificial intelligence derives key insight from the freeform complaint: Your staff are pleasant but the payment instruction Positive about Staff Rapport could not be taken due to something wrong with your Negative about the Process system!!! Action: Red alert sent to Payments Team Early warning to Systems Team Send Save
- 21. The Feedback Management Process – Beyond Insight ENGAGE CAPTURE All customers at key moments Freeform feedback using customers’ of truth preferred channel ACT INTERPRET Respond rapidly to customer Derive meaning using natural feedback language processing Corrective action Visibility across Integration with & ‘instant routing’ channels & processes key systems 21
- 22. HOW BUSINESSES LEVERAGE FEEDBACK TO DRIVE IMPROVEMENTS
- 23. Gain Clear Insight into Advisor & Process Performance On average 80% of feedback is positive, which helps boost employee morale. Understand what your Customer sees as your Advisors weak areas. Direct feedback is often less contentious than manager feedback. Compare these against your average Advisor Scores
- 24. Clear, actionable intelligence in real-time · Mood map · Geographic drill-down · Store leagues · Root causes · Employee leagues · Performance Measurement · KPI trending · Early-warning indicator
- 26. NICE Fizzback: Driving Employee Excellence Identify ‘Role Model’ reps Share improvements over time “I needed to change payments. The lady I spoke to was very helpful and patient with me. Thank you!” Motivate reps with positive feedback Identify topics for individual coaching
- 27. NICE Fizzback – Key Differentiators Event-driven Multiple channels: Conversational feedback Mobile (SMS), email, chat Response rates > 40% Multiple touch Driving enterprise-wide points: retail, improvement branches, online, contact centers Uniqueness Rapid ROI Broad: End-to-end Customer recovery, solution retention & lifetime value Deep: Specialists in Customer performance satisfaction and NPS scores improvement Operational efficiency & cost Expert: Expertise in improvement business transformation 27
- 28. The Golden Rules of a Successful CEM Strategy GOLDEN RULES REALLY LISTEN Across touch points and customer preferred channels. ENGAGE IN CONVERSATIONS It’s not an interrogation. Engage your customers with natural dialog. IN REAL-TIME To increase their engagement and increase the impact you can make. LISTEN A LOT Anecdotal information is not enough to make a difference. AND OPERATIONALIZE! Leverage the feedback directly to improve customer satisfaction, retain customers and even increase operational efficiency. 28