How can customer engagement techniques transform marketing ROI
ROI and Business Benefits of Omnichannel Customer Engagement
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Transcript of ROI and Business Benefits of Omnichannel Customer Engagement
© 2016 Forrester Research, Inc. Reproduction Prohibited 3
55% will abandon online purchases if they can’t find a quick answer
For 77%, valuingtheir time is the most
important thing a company can do to provide good service
› Source: January 2015, “Channel Management Core To Your Customer Service Strategy”
Customers expect effortless service
© 2016 Forrester Research, Inc. Reproduction Prohibited 4
Customers rely more on self-service
76%Help or FAQs on a company website
73% Phone
68% Email
58% Chat
37% Twitter
Source: January 20, 2015, “Channel Management: Core To Your Customer Service Strategy” Forrester report
© 2016 Forrester Research, Inc. Reproduction Prohibited 5
© 2016 Forrester Research, Inc. Reproduction Prohibited 6
Many centers are planning for growth
13%
51%
29%
6% 0% 1%
Increase more than 10%Increase 5% to 10%About the sameDecrease 5% to 10%Decrease more than 10%Don't know
Source: ForrsightsNetworks and Telecommunications Survey, Q1 2015Base: 1022 contact center decision-makerswith 20+ employees and 50+ seat contact center
How do you expect your firm's overall number of contact center seatsto change during the next 12 months?
© 2016 Forrester Research, Inc. Reproduction Prohibited 7
Staffing – do you hire multi-channel skilled agents?
In general, what is your contact center's approach to having agents serve customers through multiple channels?
Base: 1022 contact center decision-makers with 20+ employees and 50+ seat contact center
Source: Forrsights Networks And Telecommunications Survey, Q1 2015
30%
47%
19%
3% 1% All of our agents support multiple channels (e.g., voice, chat, email)
Most of our agents support multiple channels, but some are specialists (e.g., social media)Most or all of our agents are specialists and support only a single channelDoes not apply - our contact center only has one mode of communication (e.g., voice)Don't know
© 2016 Forrester Research, Inc. Reproduction Prohibited 8
How Schuh uses video chat
Source: April 23, 2014, “See Me, Serve Me: Video Chat For Customer Service Starts To Take Hold” Forrester report
Schuh uses video to:› Provide an extension of the retail experience on
schuh.co.uk
› Offer video to visitors both proactively and reactively
› Guide visitors through the site with co-browsing
Contact center environment› Approximately 80 agents; all of them multichannel,
including video
› Located alongside a warehouse so agents can show merchandise
› Used initially for in-store experience; now training includes the same customer interaction courses in-store employees go through
› Grew from three video desks to 17 (using Vee24’s solution) within two years
Results› 4x lift in conversion rates
› 10% increase in average order value
› 78% average NPS
© 2016 Forrester Research, Inc. Reproduction Prohibited 9
Key attributes for a cross-channel integration architecture
Source: February 2014 “Connect The Dots Between Customer Self-Service And Contact Centers”
© 2016 Forrester Research, Inc. Reproduction Prohibited 10
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Upgrade priorities
0% 5% 10% 15% 20% 25%
Support for home workersProactive outbound notification
Upgrade interactive voice response (IVR)Adding video as a communication channel
UC integration for presence and access to othersAdding chat as a communication channel
Adding social media as a communications channelAdd speech-recognition applications to IVR
Mobile application integration for scheduled call backComputer telephony integration (CTI)Upgrade the contact center to VoIP
Multichannel integration
Which of the following are the highest priority queuing and routing upgrades for your firm when planning to implement for your contact center(s)?
Base: 531 contact center decision-makers with 20+ employees and 50+ seat contact center
Source: Forrsights Networks And Telecommunications Survey, Q1 2015
© 2016 Forrester Research, Inc. Reproduction Prohibited 12
© 2016 Forrester Research, Inc. Reproduction Prohibited 13
© 2016 Forrester Research, Inc. Reproduction Prohibited 14
Results: Forrester Total Economic Impact (TEI) Study
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Key challenges
›Outdated, inflexible multivendor environment›Expensive, difficult to maintain› Increased call handle times and transfers›Frustrated customers;
hurting customer experience›Outsourced contact centers
© 2016 Forrester Research, Inc. Reproduction Prohibited 16
From fragmented to Omnichannel
© 2016 Forrester Research, Inc. Reproduction Prohibited 17
We had no standardized desktop for the agents to be able to handle interactions from different contact types, as well as no true cradle-to-grave reporting. We definitely had a clear need to centralize and provide an actual enterprise platform that keeps the intelligence in-house while still having the flexibility to leverage any other partner for agent services.
System Architect, financial services ”
“
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We have an increasing number of customers who want to self-service —they don’t want to go into the stores or through the third party. Whether it’s to sign up as a brand new customer or upgrade their contract, we have to provide them alternate channels.
Head of Online and Self-service, African telecommunications provider”“
© 2016 Forrester Research, Inc. Reproduction Prohibited 19
After Genesys: Omnichannel Customer Engagement
We did an extremely thorough analysis and full RFP to compare the top three vendors, and there was truly no comparable platform. The Genesyssolution provides an omnichannelexperience, is fully integrated and scalable, and is competitive cost-wise. We have a strong ROI.
System Architect, financial services
“
”Before Genesys: fragmented contact center approach• Outdated, multivendor environment ― inflexible,siloed, and did not integrate seamlessly across allchannels and agents.• Expensive and difficult to maintain, increased callhandle times and transfers.• Frustrated customers;; organization not nimble withregard to its customer experience strategies.
After Genesys: omnichannel engagement• Reliable, faster, and more-customized experienceno matter the channel.• Better visibility into the customer journey acrosschannels and more opportunity to convert customersor upsell them in the customer journey.• Reduced infrastructure costs and complexity, canremain nimble to accommodate the changingdemands of business and customers.
Benefits of $37,283,799versus implementationcosts of $14,458,945present value over fiveyears, resulting in a netpresent value (NPV)of $22,824,854
© 2016 Forrester Research, Inc. Reproduction Prohibited 20
Results: high level
ROI158%
Payback12.8months
$
NPV$22.8M
$
© 2016 Forrester Research, Inc. Reproduction Prohibited 21
Total economic impact process
STEP 1
PerformDue
Diligence
STEP 2
ConductCustomerInterviews
STEP 3
DesignCompositeOrganization
STEP 4Construct
Financial ModelUsing TEIFramework
STEP 5
WriteCase Study
© 2016 Forrester Research, Inc. Reproduction Prohibited 22
Composite organization
For this study, Forrester conducted interviews with enterprise organizations, including:
Two global financial services corporations
A multi-billion dollar Chinese multi-national computer technology company
A global event e-commerce leader
An African mobile communications company
© 2016 Forrester Research, Inc. Reproduction Prohibited 23
Total benefits
Total Benefits(present value)
$37.3 MFive year analysis
40%Improved agent handling
time
38%Infrastructurecost savings
17%Reduced headcount
3%Increased revenue through improved conversion rates
2%Reduced cost to integrate
new contact center
© 2016 Forrester Research, Inc. Reproduction Prohibited 24
Benefit: improved agent handle time
› 12.5% reduction in agent handle time.› Increased access to customer data and history in one workspace.
› Reduced manual process of reviewing email and social content.
Across the board, the agents are extremely happy with the single interface for interaction handling, including email. We definitely received really good feedback from the agents on having that single desktop interface. It has greatly increased their ability to focus on the important interactions and has enhanced customer satisfaction.
System Architect, financial services organization
“ ”
© 2016 Forrester Research, Inc. Reproduction Prohibited 25
Benefit: reduced infrastructure and operations costs
› Drives 55% of the benefits› Lowered hardware and server upfront and maintenance costs
› Centralize IT staff into one contact center team› Overall agent efficiency and use levels increased
We really wanted to lighten up all of the physical forms of connectivity from a hardware perspective and virtualize as much as we could. And the maintenance fees were also extremely expensive on the infrastructure we had ― it was just inefficient. We wanted to gain efficiencies in how we deliver the calls to the agents, making sure that we had the best call agents to handle the call without having several calls all over the place.
SVP, global contact center technology
“ ”
© 2016 Forrester Research, Inc. Reproduction Prohibited 26
Benefit: increased revenue through improved eCommerce conversion rates
› 50% reduction in customer abandonment at key points in the customer journey
› Implemented Genesys Web Chat at those points, to great effect.
› Hired chat agents skilled in this area.
One out of every five interactions on the website prompts a customer Net Promoter Score survey. We found that after we’d implemented our chat features, our NPS had gone up quite significantly ― customers were enjoying the experience a whole lot more.
Head of online and self-service, global telecommunications organization
“ ”
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Benefit: increased net revenue from improved voice conversion rates: upsell & cross-sell
› Genesys customers were able to increase revenue significantly.
› The Omnichannel Engagement Center Solution enabled the agent to upsell and cross-sell products.
› Increase in conversions for inbound voice calls after implementing Genesys.
The personalization and optimization of the call routing provided by Genesys allowed us to improve our sales by 20%.
Leader of omnichannel experience, Latin American financial services organization
“ ”
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Benefit: reduced cost to integrate new contact center agents
› Throughout the five-year implementation, customers needed to integrate with new contact center agents, including acquisitions and contracting with third-party outsourcers.
› Able to cut integration costs for additional agents by half.
To add contact centers, we are able to buy just merely configuration of the new agents and set up the appropriate roles and give them access to skills-based routing within our environment. We were able to reduce the implementation cost by half which -- I was really happy. One of our project managers was looking at all the financials after the fact and pointed that out to everyone – it was very eye-opening.
Lead systems architect, financial services provider
“ ”
Practical steps to building an Omnichannel Engagement Center
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Step 1: Deliver a Personalized Experience without Silos
SS Action
Route
Best Agent
Notification
Orchestrated Next Action
Rules
Context
Orchestration
Self-‐Service Event
OR
InteractionRequest
Events
Interactions
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Step 2: Improve Agent Turnover and Poor Performance
Omnichannel WFO
Impact
Best Agent RoutingContext Omnichannel
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Step 3: Manage a Multi-‐Vendor Environment
OmnichannelInbound &Outbound
360Monitoring& Analytics
JourneyOrchestration1 2 3
OmnichannelSelf-‐Service Context WFOOpen
Impact
Cloud Hybrid On-‐Premises
33
Manage Customer Engagement Lifecycle
Contact Center
SalesVoice IVR
Website
Mobile App
Store/Branch
Back OfficeMarketingSocial
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Contact Center
SalesVoice IVR
Website
Mobile App
Store/Branch
Back OfficeMarketingSocial
Omnichannel Engagement Center
System of Engagement
OMNIC
HANNEL ENGAGEMENT CENTER
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Genesys Omnichannel Engagement Center Solution
Return on Investment: 158% Net Present Value: $22.8 Payback Period: 12.8 months
Based on an analysis of Genesys customer feedback, Forrester has determined the GenesysOmnichannel Engagement Center solution has the following three-year risk-adjusted financial impact:
EXECUTIVE SUMMARY
Increased Agent Productivity
Improved Customer Experience Increased Revenue
Improving customer experience and sales conversionswhile reducing handling time
Source: The Total Economic Impact of Genesys Omnichannel Engagement Center Solution 02/2016
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More Resources on http://www.genesys.com/tei-‐of-‐genesys
• Forrester Total Economic ImpactTMStudy
• ROI Calculator: Find Out Your ROI in
• 5 Minutes
• Infographic:OmnichannelEngagement Center Solution Benefits
For more information, visit www.genesys.com