Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences...

14
Telco eGuide: How to Boost TeleSales Conversion Rates

Transcript of Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences...

Page 1: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

Telco eGuide: How to BoostTeleSales Conversion Rates

Page 2: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

3

8

12

14

Contents

The Telco Telesales Challenge

How to Improve TeleSales Conversion Rates

Benefits of a Visual Cart in TeleSales

Conclusion

Copyright © 2019 Lightico.

Page 3: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

The Telco Telesales ChallengeTelco sales processes are often complicated and difficult for

the agent to lead and the customer to follow due to complex

plans and deal structures. As a result, agents sell less

effectively, service times get elongated and customers are

less satisfied with their calls. This combination of business

impact (hurt sales and inflated costs) and customer frustration

(damaged loyalty) has caused telcos to seek ways to simplify

otherwise complicated processes.

Sales agents in complex sales processes find it difficult to

structure, progress and close sales using the voice channel on

its own. This challenge is mostly due to customers expecting

an equivalent experience to that of the in-store and

eCommerce buying experience, which are typically speedier

and more visual.

www.lightico.com 3

Page 4: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

There are two main challenges Telcos face with voice-only telesales:

1. Complex sales processes overload customers.

Sales reps need to present many deal details and options to the customer.

These details often overwhelm customers who are accustomed to a more

visual, experiential buying process on websites or at retail shops. Because of

this decision paralysis, prospects switch to other, more familiar channels like

websites and retail branches. There they are exposed to competitive offers and

experience easier buying processes.

2. Customers who do buy, often misunderstand their purchases.

Even customers who do buy, are often frustrated with their experiences and

purchases. They may have assumed they were buying one thing, but realize

they bought another. Or, they may discover purchasing terms that they were

not expecting or understood over the phone. This frustration causes customers

to cancel their orders.

Complex phone sales conversations tend to leave customers more confused, impatient and unlikely to buy.

www.lightico.com 4

Page 5: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

As a result, these complex sales conversations tend to leave

customers more confused, impatient and unlikely to buy. This gap

has become business critical as telcos compete for customer

attention with known buying experiences like Amazon’s effortless

1-click checkout and Apple’s in-store retail “genius bar”.

To further understand the extent of the telco sales challenge, let’s

examine a common telco interaction. These may include

presenting a new phone offering that can include a phone, a new

data package, additional insurance and even accessories. Each of

these products and steps may require their own images,

supporting documents, forms and declarations. Furthermore,

these may be complicated by endless pre-existing factors like the

customer’s current plan, location, loyalty status or other factors.

Because of the endless combination of products and conditions,

pulling together the right offer, in a timely and organized way and

sharing with the customer over the phone is difficult.

www.lightico.com 5

Page 6: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

100device options

4discount levels

X

X

X

X

X X

X

More than 9 million options!and that’s before bundling data and phone plans!

To illustrate this, imagine all the permutations of offers, pricing, and terms that an agent must navigate for a phone upgrade:

3memory options

50states

4payment options

2delivery options

6payment plans

3warranty options

128

256

1TB

Half

Off

www.lightico.com 6

Page 7: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

As a result, sales calls tend to be long and frustrating. Telco businesses feel the business impact by lower conversion rates, higher

return rates and damaged customer loyalty. Additionally, call times can balloon and customer satisfaction may be low as the process

seems chaotic and long.

www.lightico.com 7

Page 8: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

How to ImproveTeleSales Conversion RatesGiven the pronounced need to improve telesales efficacy, telco sales

leaders are looking to technology to regain the competitive sales edge.

They have seen the sales impact of bringing real-time, digital solutions

to their sales teams to help configure and close more sales orders.

Imagine a world where businesses and their call-center agents are able

to dynamically configure and display orders for customers in real time

on their cell phones, or any internet connected device.

While speaking with a customer on the phone, the agent creates a

tailored order. The system then activates smart workflows that

dynamically pull together relevant T&C’s and signature requests. These

workflows then deliver the offer seamlessly directly to the customer’s

cell phone - all in a visually streamlined fashion. It’s noteworthy that the

agent can share the order summary either at the end of sales

discussion for final alignment and sign-off, or, as it is being configured,

to help customers see their choices as they make them.

www.lightico.com 8

Page 9: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

The customer enjoys a simplified customer experience that is easy to understand and complete:

All these components are done through a simple text message (no email or app required) and are designed to be mobile optimized - so customers

can complete them effortlessly, anywhere.

This solution, called the Visual Cart, comes to solve the challenge of multi-step, complicated sales processes by using conditional logic and smart

display mechanisms to streamline sales.

2. Customer reviewsand approves their visual

order summary

4. Customer pays securely fortheir order via a PCI-compliant

mobile interface

3. Customer automatically receives the relevant terms and conditions for instant consent to their phone

1. Customer receives a text message to a link with their

order summary

www.lightico.com 9

Page 10: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

The Visual Cart is geared for businesses selling to

the consumer market. While more rudimentary

solutions provide basic assembly of the order, the

Visual Cart mirrors how customers buy in today’s

mobile, always-on world.

The Visual Cart technology does more than

configure all the relevant order elements and prices.

It delivers the tailored order specs to the customer

digitally and instantly, to their mobile devices for easy

understanding and completion. By doing so, it enables

the sales team to construct optimized offers and have

them completed by the customer anywhere.

Visual Cart capabilities power both agent assisted

and self-service funnels, enabling businesses to sell

today’s mobile, distracted customer more effectively -

tailored, instantly and anywhere.

www.lightico.com 10

Page 11: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

For telcos, the solution integrates with all existing telco systems including BSS, OMS, product catalogue and long term retention. So after a

customer approves their order, their eSignature and consent are digitally sealed and stamped with a complete audit trail that adheres eSign

Act and EIDAS legal requirements. These legally-binding documents are stored in the customer’s record in the CRM and are easily searchable

for auditing and dispute resolution.

Because these solutions leverage APIs to integrate with existing solutions and are compliant with the strictest compliance regulation, telcos

can benefit from these expedited customer sales journeys that deliver exceptional experiences, drive productivity and improve efficiency.

www.lightico.com 11

Page 12: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

Benefits of a Visual Cartin TeleSalesThe Visual Cart solution ensures that telco sales conversations are

more effective, compliant and delightful.

Thanks to automated workflow rules, agents build and present the

right offer every time and have an easier (and faster) time getting

customer alignment. As a result, this orderly approach has proven

to improve conversion rates, increase average purchase prices,

reduce cancellations and remove compliance concerns.

LEARN HOW

Want to increase average purchase prices, reduce cancellations andremove compliance concerns?

www.lightico.com 12

Page 13: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

Key Benefits of a Visual Shopping Cart

Dynamic OrderConfiguration

Conversion rates typically jump by 20%That’s because order processes are automated, removing agent doubt and enabling them to focus on engaging

customers throughout the sale. By removing the uncertainty of what to show/ask next, they are able to convey

more confidence and guide sales conversations more effectively.

Average purchase price risesWith smart workflow engines, sales agents are able to offer the most suitable offer to each of their customers. The

Visual Cart ensures that the most effective and profitable offers can be monitored and adjusted in real time, without

needing to retrain sales teams.

Compliance risks are zeroedSmart workflows use conditional logic to integrate and complete all required regulatory processes. These

dynamic flows consider all the sales details and can provide a unified approach to gathering consent and

signatures. Thanks to rule-based logic, agents are no longer required to read out long phone scripts or

scramble for the relevant T&C’s for each plan permutation. Those pieces are instantly compiled and delivered

to the customer for consent and agents are less prone to human error mistakes that hamper compliance.

After-call cancellation rates are slashed by 33%Customers can see and internalize their purchases ahead of buying. This builds confidence and clarity in their

purchase decision and removes the most common reason for after-call cancellation in telesales - confusion.

www.lightico.com 13

Page 14: Telco eGuide: How to Boost TeleSales Conversion Rates · attention with known buying experiences like Amazon’s effortless 1-click checkout and Apple’s in-store retail “genius

ConclusionWhile telcos have discovered the huge potential in selling

phones, data plans, and accessories through their call center,

they are facing enormous challenges in their complex

sales processes.

Not only do they compete with high-street sellers, they

compete with internet retailers that provide a streamlined

experience. Without digital tools to better guide, accelerate and

execute sales calls, telco call centers will find it challenging to

deliver the same effective sales experience as their bricks and

mortar and web-based peers.

With the Visual Cart, telco call centers can regain the upper

hand in digital sales by driving more effective, compliant and

instant call processes.

LET'S TALK

Learn How to Maximize Your Telesales Efficiency

www.lightico.com 14