01.BankingVietnam2008_2dec08-FINAL_Driving Extraordinary Customer Service in a Down Turned Economy

8/7/2019 01.BankingVietnam2008_2dec08-FINAL_Driving Extraordinary Customer Service in a Down Turned Economy

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1© 2008 Avaya Inc. All rights reserved.

Extraordinary Customer Service in a DownTurned Economy

Ho Wai [email protected]+65-97301776 (HP)

Extraordinary Customer Service in a DownTurned Economy

Ho Wai [email protected]+65-97301776 (HP)




Gartner Report: “The Economics of a Poor Customer Experience”

At risk — 55%Decline in wallet

share

Defect — 45%

Poor experience22%

Positiveexperience

78%

Complain2%

Do notcomplain

98%

At risk — 34%

Issue not resolved

Defect — 28%

Resolved — 38%440,000

customers

431,200customers

2,464 customers$246,400

194,040 customers$19,404,000

2,992 customers

$299,200

237,160 customers$23,716,000

8,800customers

Every Customer Interaction CountsEnterprise with 2 million customersRevenue = $200,000,000 per yearAverage Revenue per customer = $100 per year

The Bottom Line: A Customer’s Experience is at the heart business success or failure




Business Impact of Customer Retention

Both Firm A and Firm B have 10% sales growth andsimilar productivity and cost model

$300m

After 12 years

5% Customer retention advantage= 75% more profitability

In 12 years, Firm B has doubled in size,while Firm A has remained unchanged!

$172m

95%

CustomerRetention

95%

CustomerRetention

90%CustomerRetention

90%

CustomerRetention

Source: Reichheld Loyalty Effect Book (Bain Study)




Hierarchy of Customer Service Needs

Personalization

Informed

Resource

Easy to Use

24 x 7 Access

“Know me, know my situation”

Answer inquiries on first contact

Relevant resource availability

(language, time zone)

Self service adding value

not time




Customer Service in a Down Turned Economy

How w ill yourenterprise shift

spending if your financial

outlookdeclines?

How w ill thisaffect customer

service?

Key Financial Indices – Jan-Nov 2008


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Providing Superior Customer Service

How do you redesign work foroptimal performance and superior customer service

and maximize speed and profitabilityin an economic downturn?

How do you redesign work foroptimal performance and superior customer service

and maximize speed and profitability

in an economic downturn?

Reduce coststhrough self

service options

Deliver consistent,personalized

customer experienceacross voice,

email, chat, and video

Automate outboundcommunications

Agents spend moretime on positive,

productive customerinteractions

Deliver consistent,personalized

customer care across

voice, email, webchat and video

Differentiated servicesand reduced cost

of serving customers



How Do Your Customers Want to be Served?

Personalized,customer

interest routing

Anywhere,anytime model

Consistency

acrosschannels

Alwaysavailable

History-basedinteractions

Ease of Use

Self Service provides you with automated waysto serve your customers

http://www.darkfibersolutions.com/handing_over_money.jpg



The Varying Costs of Doing Business

Economics Is Driving Channel Shifts

$0.00

$2.00

$4.00

$6.00

$8.00

$10.00

$12.00

Web IVR E-mail Text Chat Phone

Average Cost Variability

Self-service Assisted Service

Real Time Real Time

Delayed$40.00

Source: Yankee Group, Contact Center Futures, January 24, 2008 © Copyright 2008. Yankee Group Research, Inc. All rights reserved.



What To Automate: Why Do People Call?Travel, Tourism

Frequent Flyerprograms

Cash in miles,book flights

Flight Status

Financial Services,Banking, Insurance

Account balance

Funds transfer

Order checks

Card activationsStock price/quotes

Claim status

Eligibility

HealthcareReferral inquires

Member enrollment

Claim billingquestions

Plan coverageID Card replacement

Spending accountbalance inquiry

Change physician

Eligibility

IT Help DeskPassword/PIN resets

Hardware/softwaresupport

Open/close/status

ticket

EducationClass cancellations

School closings

Campus alerts

Billing status

Bus arrivalschedules

Parent -Teachercommunications

Utilities, TelcoService outages

Service scheduling andreminders

Meter reading

Bill payment

Retail/CommercePlace orders

Order status

Shipping Status

Pickup, delivery

Address, locationfinder

Human Resources

Time reporting

Benefits enrollment

Pension questions

Change of addressLocation info

Average Cost of Self Service transaction $.05 to $1.25vs. $2.00 to $12.00 per agent assisted transaction (in USD)



The Bottom Line – Significant ROI withSelf Service

ROI:

(cost of implementation)

(# of calls/month) x (Cost per agent assisted

call – cost per automated call) x(% automation)

Voice

Portal

$5/call agentassisted,

$0.25/call self

service, 80%success

800,000 callspays for a

$200K systemin 6 months




Cross-selling

Customer

satisfactionsurveys

Customerretention

& win back

Fraud detection

‘Welcome’ calls

Collections

Providing proactive customer service is cost effective anddrives customer satisfaction and retention




Proactive outreach for flight delays, cancellations, orupdates

Contact customers for fraud or overdraft notifications,lease programs, or brokerage services

Renew prepaid contracts and minimize customer churn

Service resumption notification: avoid power surges,assist large corporate customers

70% win-back rate if contacted in 30 days

Reach Out to Customers with Information

They Need and ValueProactive Contact

Airlines

Financial

Services

Utilities

Services

Companies

(credit card, cellular,insurance)

Mobile Service

Providers



Manual Dialing vs. Predictive Dialing

Talktime

Ring

Dial

Prep

Typical manual contactrate 5 –10 per hour

Typical Avaya predictivecontact rate 20 – 30 per hour

Wrapup

Talktime

Ring

Dial

Prep

0 10 20 30 40 50 60Seconds

0 10 20 30 40 50 60Seconds

Talktime Administration

Talktime Wait

200 – 300% contact rate increase



The Bottom Line – Increasing Revenue WithAutomated Outbound Communications

Averaging 4 minutecalls they cancomplete 2,500 dailyconnects. Each salegenerates $250 inrevenue, and there is a10% conversion rate.

Contact Center

50

agents

Increasing voice detectionaccuracy drives impressiverevenue!

+1% voicedetectionaccuracy

+$228,000annually

+5% voicedetectionaccuracy

+$1.1millionannually




Personalized,customer

interest routing

Anywhere,anytime model

Consistency

acrosschannels

Flexible,contextual help

History-basedinteractions

Ease of Use

Multi-channel capabilities provide you with new waysto service your customers




Enhance the Customer Experience – ImproveContact Center EfficiencyValue of Multi-Channel

Deliver consistent, personalized customer careacross voice, email, web chat, and video

Segment customers, intelligently route to the bestavailable resource

Improve first contact resolution and agent

productivity with screen popReduce development time, costs, and riskassociated with extensive custom

applications



How can Banks Benefit fromEnterprise Multimedia Contact Management

Voice, email, web chat managed based

on a single set of business rules– Ensure consistent service

– Optimize utilization of SMEs

Integrated, consistent view of customerwith cradle-to-grave history

– Apply this intelligence to routing

Improved agent productivity

– Agent are empowered with detailedcustomer interaction knowledge

Open, standards-based architecture

– Ease of integration

– Customize to meet differentorganizational needs



# Emails handled perday by each emailagent = 100

Loaded Annual laborcost of FT Emailagent = $38,000

The Bottom Line – Decreasing CostsMulti-Channel Solution

Contact Center

200voice

agents

@78%utilization

70 voice agents now alsotake emails - reduces email-only agents by 7

70 voiceagents goblended

(15 emails/day-@ 86%utilization)

Overallutilization

increases to

80%+$266,000savings



Customer ServiceCase Study

• Thailand’s largest provider of mobilephone services

• Trusted partner for thousands across

all types of industries • Avaya IP-enabled Contact Center and Call Reporting System

• Avaya Interactive Response Solution

• Avaya Predictive Dialer System

• Avaya Interaction Center

Solution ComponentsSolution Components

• Intelligent, personalized interactions with customersincreased Customer Satisfaction Index by 13.4%

• Improved efficiency by offloading non revenue generatingdata collection

• Improved linkage between people, processes andresources thru automation with 42% gain in productivity

Business ImpactBusiness Impact• Improve operational efficiency,

increase agent productivity, andautomate system management

• Improve reliability, availability andmanagement of AIS Call Center

• Deliver highest possible customerservice standard at the lowest cost

• Grow the business and respondquickly to business changes

• Gain extraordinary insights intocustomer interactions that increaseaverage rate per user (ARPU). “The Avaya Team designed a contact center platform that is

versatile and interoperable, with scalability and priceperformance to meet our needs.” MD, ACC Co Ltd.

Why AvayaWhy Avaya

Advanced Info ServicesAdvanced Info Services

Business NeedBusiness Need

01.BankingVietnam2008_2dec08-FINAL_Driving Extraordinary Customer Service in a Down Turned Economy

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