As we discussed in our last post, The Evolution of the Customer , clients are becoming more tech savvy and expect integration of online and customer service (CX) front ends. Agents are less engaged and turnover in a contact center is very high. Younger clients prefer to get a quick answer rather than wait on hold and then potentially get the run around or the worst—the transfer.
There are many ways to “optimize” the customer experience. When discussing optimization in general, we view 3 main areas.
Technical, Financial and Operational optimization can be achieved in one word, DEFLECTION (or 3 if you looked above).
If an organization is looking for ways to self-service and minimize a time investment, particularly with easy questions/answers, and contact center leaders are trying to manage their agents and reduce expensive calls, chatbots are an absolute must. It’s not just enough to have a chatbot. Organizations must consider how to use it and select a partner based on the use case, connections to systems, (think supply chain, tracking systems, reservation systems, scheduling backend, etc.) speed of deployment, along with query answers and ongoing support.
Let’s explore benefits of chatbots and ways to evaluate their impact.
Machine learning (true ML) and AI include conversational support as well as Natural Language Processing (NLP) and actual sentiment. Scale your support in multiple languages AND dialogues so your teams understand a caller from Mexico vs. Spain or Quebec vs. Paris. Five9 for example, includes not only speech recognition but sentiment analysis for voice self-service (yes chatbots and Virtual Agents include both the digital and voice varieties). Their system takes both verbal cues and tone in addition to words. Five9 Voice IVA detects verbal cues in real time during voice interactions. They can detect fear, sadness, joy, anger, analytical, confidence and tentative sentiments. Using these cues allow a contact center leader to customize scripting to ensure the appropriate responses and then routes appropriately to a live agent when needed. Most of these solutions come with compliance out of the box, allowing them to apply in regulated use cases like Finance, Healthcare and Government agencies. Imagine calling into a government agency and getting an answer about property taxes without spending half your day on the phone… sigh… we can dream 😊
Chatbots are no code deployments which quickly build and deploy across voice, web chat, SMS, social and other integration channels. Dialpad’s AI Contact Center allows a client to build capabilities for both live chat AND voice. These workflows are built by dragging and dropping.
Have your data lake on AWS and want to have a contact center pull and push data across AWS? Vonage uses an RFC 6455 compliant websocket to connect the capabilities of AI to your voice and chatbot experience.
Five9 has ready-built call flows from common tasks almost like a Platform as a Service (PaaS) for Virtual Assistance. Pick a common category or industry and click to deploy. From there, customize the template to ensure you have the appropriate workflow.
Need a fully customized tree for various use cases across the enterprise? No problem, example below includes dialog for sales, technical support, billing, payment and “other”. It’s a visual drag-and-drop approach to workflow design.
Once these solutions are deployed, they provide a very strong return on investment. While there are a litany of soft benefits, particularly for the user community who prefers digital over voice interactions, there are also hard benefits.
A Forrester economic impact study from Solvvy, prior to the Zoom acquisition showed a 554% ROI for a B2C subscription e-commerce leader. The cost savings identified $9.3 Million in cost savings over a three-year timeframe including 43% growth of self-service resolution rates within weeks of implementation saving $6.3M. 10-15% of additional hiring would have been required to handle increased call volumes and a 16% reduction in incident handling times that were still escalated to customer care. Zoom has since rebranded as Zoom Virtual Agent.
Juniper Research reported a growth of 3,400% from 2019 and estimates 79% of successful interactions come from banking chatbots like Bank of America’s Erica. Bank savings alone are topping $7.3 Billion. In the same report, research found AI, including chatbots, will deliver cost savings of almost $1.3 billion across motor, life, property, and health insurance.
Let’s be clear, ANYONE can deploy this technology WITHOUT a wholesale change in the core contact center. These services can help modernize an on premise, legacy contact center or can be part of a new cloud contact center. Whether using an old Avaya or Cisco solution to a more modern solution, this technology delivers. While not all these services are the same, they all provide significant return on investment as well as drive client satisfaction and brand loyalty.
Don’t do this research alone! Engage us at RISE to help optimize your customer experience!