This guide is the second in a three-part series designed to help you build a comprehensive business case for digital self-service. In Module One of this series, we explained how virtual agent solutions deliver ROI by way of deflecting call and email volume from your digital channels. In Module Two: Top-Line Revenue, we shift the the focus away from bottom-line cost savings and explain how today’s leading virtual agents excel in delivering highly relevant, targeted marketing offers that boost online conversions. In this module, you’ll see how virtual agents open the door to revenue opportunities, by delivering relevant, targeted marketing offers that closely match the intent of customer queries, seamlessly leading customers down the purchase path while they’re interacting with your brand online.
© 2014 IntelliResponse Systems Inc.
The Business Case for Digital Self-Service: TOP-LINE REVENUE
THE BUSINESS CASE FOR DIGITAL SELF SERVICE: TOP-LINE REVENUE | 1
CALL & EMAIL DEFLECTION
VOICE OF THE CUSTOMER INSIGHT
TOP-LINE REVENUE 1 2
3
ROI SERIES | MODULE TWO
Virtual Agents: Drive Revenue with Targeted Offers Consumers are increasingly interacting with Virtual Agents (sometimes called virtual assistants) as a means to get problems solved and questions answered online. At their core, Virtual Agents are software services that engage in automated conversations with customers in self-service environments. While virtual agents have their origins as a tool for customer service, today’s leading virtual agents play a truly pivotal role of taking satisfied customers, who arrive in a digital channel seeking some type of service, and moving them down the purchase path by delivering marketing offers that are highly relevant to the original service query. First and foremost, a virtual agent must do an exceptional job of resolving the customer query, by providing an instant accurate answer in a way that the customer finds satisfying. When this is achieved, the virtual agent has effectively ‘earned’ permission to make the offer in a courteous and elegant manner. Like any good salesperson, the best virtual agents make the offer process natural, seamless and perfectly-timed to the moment when the customer is most receptive—that is, immediately after answering the customer’s question.
© 2014 IntelliResponse Systems Inc.
The next page is a best practice example of a virtual agent elegantly and professionally presenting a marketing offer that is highly relevant to the original customer query.
An illustrative example of a Virtual Agent prominently greeting customers on a website home page.
THE BUSINESS CASE FOR DIGITAL SELF SERVICE: TOP-LINE REVENUE | 2
The Next Level: More ROI from More Conversions
RELEVANT OFFERS BOOST CONVERSION The best virtual agents deliver relevant marketing offers to customers right alongside the answer to their question. This boost TOP-LINE revenue by leading customers toward the purchase path, when they would have otherwise ‘left’ the conversation after finding the answer to their question. One IntelliResponse client, a major North American bank, measured a 10X conversion improvement after introducing relevant marketing offers like this to their virtual agent solution.
Today, the ROI discussion is no longer limited to cost savings from call and email volume reduction. Leading virtual agent solutions now drive ongoing TOP-LINE value, month after month, with highly-relevant marketing offers that precisely match the top-of-mind, in-the-moment concerns of your customers. Below we show what your customers would see when your virtual agent is configured to leverage intent recognition into high-converting marketing offers.
INTENT RECOGNITION POWERS RELEVANT MARKETING OFFERS
10X CONVERSION
IMPROVEMENT
derives the intent of the customer question and delivers the one right answer and/or asks for clarification in order to match the question to the right answer.
INTENT RECOGNITION TECHNOLOGY i.Match
THE BUSINESS CASE FOR DIGITAL SELF SERVICE: TOP-LINE REVENUE | 3 © 2014 IntelliResponse Systems Inc.
Monthly Virtual Agent Engagements
Percentage of Answers with Offers Marketing offers delivered by Virtual Agent.
Number of Offers 400,000
Click Rate
$ 76,000
40%
1,000,000 Number of engagements in digital channels.
MONTHLY AND ANNUAL REVENUE UPLIFT CALCULATION
By delivering targeted marketing offers, today’s leading virtual agents help companies achieve something they have struggled with for years: harnessing traffic from online customer service queries, engaging this traffic in automated sales conversations, and converting a reliable percentage of this traffic to sales in real time. Below, we calculate monthly and annual revenue uplift using sample percentages of marketing offers served, clicks and conversions across digital channels. The numbers used here are conservative and are shown for the purpose of illustrating the calculation.
Number of Clicks on Offer 20,000
Conversion Rate Number of Converted Sales 800
Average Basket Size
Monthly Uplift in Revenue
Uplift in Revenue from Online Self-Service
$ 912,000 Annual Uplift in Revenue
Top-Line Revenue Uplift from Relevant Marketing Offers CALCULATING MONTHLY AND ANNUAL REVENUES FROM OFFERS
5%
4%
$ 95
© 2014 IntelliResponse Systems Inc. THE BUSINESS CASE FOR DIGITAL SELF SERVICE: TOP-LINE REVENUE | 5
Getting Perspective on Opportunity Cost : UNDERSTANDING REVENUE LEAKAGE FROM FAILED WEBSITE VISITS
Total Calls
Unresolved Failed at Site 57,000
Customers Who Left Your Website for a Competitor 12,920
Calls Not Deflected 16,425 Improvement in FCR 10% Number of Calls Avoided 1,643
57% of inbound calls come from customers who tried to resolve their issues online, but couldn’t. Such is the pervasiveness of online self-service inefficiencies today. (Matt Dixon, Corporate Executive Board) Most companies don’t look any further to see what this really means. These 57,000 calls only represent the population of web visitors who couldn’t find the answer they wanted AND escalated to higher cost channels. However, according to Forrester Research, this escalation action is taken by only 75% of your site visitors. In other words, if 57,000 represents 75% of the total number of ‘disgruntled’ web visitors, then the TOTAL population of web visitors who did not find answers is actually 76,000. And here’s how the full population responds: • 75% escalate to higher cost channels = 57,000 • 17% defect to competitors = 12,920 • 11% abandon altogether = 8,360
57%
100,000
8,360 Total Calls 100,000
Customers Who Left Your Website Unsatisfied
Most companies, unaware of the statistics, don’t ‘follow the trail’ to get a glimpse of the staggering lost revenue potential.
In the chart below, we show you how to use a metric you measure all the time (your monthly call volume) to “follow the trail” back to uncovering lost revenue opportunities that originate on your website. The calculations here use widely-accepted industry averages based on leading customer experience research.
Based on the calculations in the chart above, for every 100,000 calls in your call center, you can assume there were 21,280 customers or prospects on your website that willingly tried to engage in customer service with your company, but could not. And the majority of these consumers went immediately to a competitor. Simply multiply your total annual call volume by 21% to get an idea of how many web visitors left your website disappointed. What would be the revenue upside of deploying a virtual agent in your digital channels to not only satisfy the majority of these visitors with instant accurate answers, but also convert a portion of them into online sales using highly relevant marketing offers?
21,280 Total Dissatisfied Customers
CALCULATING DISSATISFIED WEB CUSTOMERS USING MONTHLY CALL VOLUME
THE BUSINESS CASE FOR DIGITAL SELF SERVICE: TOP-LINE REVENUE | 4 © 2014 IntelliResponse Systems Inc.
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
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5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com [email protected] 1-866-454-0084
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
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5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com [email protected] 1-866-454-0084
A Look Ahead… In this Module Two, we explained how a virtual agent that is able to recognize the intent of customer questions, and deliver relevant marketing offers that align with that intent, can drive significant improvement in online conversion. The next module in the series will take the ROI discussion to a whole new level, by introducing the virtually unlimited revenue opportunities that arise when you have deep, actionable voice of the customer insight capabilities built right in to your virtual agent solution. Leading virtual agents act as a kind of 24x7 market research agent in your digital channels, and we’ll explore the opportunities that this capability affords in Module Three. Jump Ahead: Get a Custom ROI Calcula9on from IntelliResponse Let us help you get an accurate projection on ROI with a no-obligation consultation using your actual call and email volume data. Contact us today at [email protected].
MODULE THREE LOOKS AT ‘NEXT LEVEL’ ROI OPPORTUNITIES FROM VOICE OF THE CUSTOMER INSIGHT Stay Tuned for the Next Installment in the ROI Series:
Compliments of IntelliResponse
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation ROI Analysis Using Your Call and Email Volume Data
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
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2
3
4
5
5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com 1-866-454-0084
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
1
2
3
4
5
5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com 1-866-454-0084
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
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2
3
4
5
5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com 1-866-454-0084
Get a Free, No Obligation ROI Analysis Using YourCall and Email Volume Data
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
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3
4
5
5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com 1-866-454-0084
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
1
2
3
4
5
5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com 1-866-454-0084
Virtual Agents are the future of customer service. Gartner predicts that by 2020, the customer will manage 85% of the relationship with an enterprise without interacting with a human. So it’s not a question of IF virtual agents will take the lead role in your customer service operation, it’s more so a question of WHEN your company will deploy the solution and, how many customer you may lose along the way to competitors who do so before you. Not having a solu*on in place yet may in fact be an advantage. For the moment. One advantage of building out your customer service strategy as a high-growth company is that you’re not bogged down by legacy investments in contact centers, staff and processes. You may have a window to get a Virtual Agent solution deployed before key competitors, especially if your main competitors are large-scale enterprises who have been slow to react to the changing behaviors of today’s consumer. But don’t wait. Even the largest of companies, in the oldest of industries, are adding Virtual Agents at the center of their interaction channels. Virtual Agents offer many benefits over live agents. You’ve probably been hiring at a dizzying pace. You can take a breather now. With a Virtual Agent handling low-complexity questions online, you can operate with a skeleton staff contact center, with fewer reps that handle only higher-value or complex customer interactions. This is the future of the contact center. What’s more, VIRTUAL Agents work 24 x7, never get sick, and never leave their desk to go to lunch, let alone to go away on vacation. A Virtual Agent will help you mone*ze customer service traffic. The link between positive customer service experience and a customer’s propensity to buy is clear. Virtual Agents let you capitalize on the immediate ‘goodwill’ earned in the delivery of the right answer. Our clients have run their own A/B tests that conversion rates improve when you provide relevant offers that match the intent of a customers original question. The best Virtual Agents have this intent-recognition matching intelligence built in. RELEVANT offers open the door to conversions. Virtual Agents Give You Voice of the Customer Insight Like None Other. There is no easier, faster, or more cost-effective way to begin building your understanding of the customer than with a Virtual Agent. It’s like employing a 24x7 market research agent with the capacity to talk to millions of customers every year and report back to you on every interaction without leaving out a single word from a single conversation.
1
2
3
4
5
5 REASONS WHY VIRTUAL AGENTS ARE PERFECT FOR HIGH-GROWTH COMPANIES
Key Takeaways for High-Growth Companies
To learn more about taking online self-service to the next level for your customers, visit www.IntelliResponse.com
Compliments of IntelliResponse and Forrester Research, Inc.
© 2013 IntelliResponse Systems Inc.
Get a Free, No Obligation Assessment of Your Website’s Self-Service Performance!
[email protected]@intelliresponse.com 1-866-454-0084
Get a Free, No Obligation ROI Analysis Using YourCall and Email Volume Data
Getting Perspective on Opportunity Cost : UNDERSTANDING REVENUE LEAKAGE FROM FAILED WEBSITE VISITS
Total Calls
Unresolved Failed at Site 57,000
Customers Who Left Your Website for a Competitor 12,920
Calls Not Deflected 16,425 Improvement in FCR 10% Number of Calls Avoided 1,643
57% of inbound calls come from customers who tried to resolve their issues online, but couldn’t. Such is the pervasiveness of online self-service inefficiencies today. (Matt Dixon, Corporate Executive Board) Most companies don’t look any further to see what this really means. These 57,000 calls only represent the population of web visitors who couldn’t find the answer they wanted AND escalated to higher cost channels. However, according to Forrester Research, this escalation action is taken by only 75% of your site visitors. In other words, if 57,000 represents 75% of the total number of ‘disgruntled’ web visitors, then the TOTAL population of web visitors who did not find answers is actually 76,000. And here’s how the full population responds: • 75% escalate to higher cost channels = 57,000 • 17% defect to competitors = 12,920 • 11% abandon altogether = 8,360
57%
100,000
8,360 Total Calls 100,000
Customers Who Left Your Website Unsatisfied
Most companies, unaware of the statistics, don’t ‘follow the trail’ to get a glimpse of the staggering lost revenue potential.
In the chart below, we show you how to use a metric you measure all the time (your monthly call volume) to “follow the trail” back to uncovering lost revenue opportunities that originate on your website. The calculations here use widely-accepted industry averages based on leading customer experience research.
Based on the calculations in the chart above, for every 100,000 calls in your call center, you can assume there were 21,280 customers or prospects on your website that willingly tried to engage in customer service with your company, but could not. And the majority of these consumers went immediately to a competitor. Simply multiply your total annual call volume by 21% to get an idea of how many web visitors left your website disappointed. What would be the revenue upside of deploying a virtual agent in your digital channels to not only satisfy the majority of these visitors with instant accurate answers, but also convert a portion of them into online sales using highly relevant marketing offers?
21,280 Total Dissatisfied Customers
CALCULATING DISSATISFIED WEB CUSTOMERS USING MONTHLY CALL VOLUME
THE BUSINESS CASE FOR DIGITAL SELF SERVICE: TOP-LINE REVENUE | 4 © 2014 IntelliResponse Systems Inc.
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