How Can Interaction Analytics Help Foster Customer Loyalty?

interaction-analytics-customer-loyalty

In today’s digital world, customers rely on a variety of channels (phone, email, social media, live chat, surveys, etc.) to interact with companies.  For organizations looking to build and maintain strong relationships with customers, the benefits of a multi-channel consumer landscape are two-fold:

1) They have the opportunity to connect with customers on the channels they prefer to use, and
2) They can leverage interactions across channels to gain valuable insight about customers

But, in order for companies to take advantage of the wealth of customer data at their disposal, structured and unstructured data needs to be collected, synthesized, and analyzed.

Let’s take a look at a few of the ways companies can leverage interaction analytics and foster customer loyalty:

Discover the Root Cause of Customer Dissatisfaction

With customers more discerning (and demanding) than ever before, companies simply can’t afford to provide anything less than an exceptional customer experience.  There just isn’t a great deal of flexibility for meeting increasingly high customer expectations.

“If [organizations] don’t get on board with meeting customer expectations,” notes an ICMI research study on delivering customer service excellence, “they’ll soon discover that they may not have many customers left around to serve.”

With interaction analytics in place, companies can discover the root cause of repeat customer contacts by analyzing past and current customer activities.  Interaction analytics might, for example, uncover the reasons customer calls are being bounced from agent to agent (escalation attempts, insufficient agent training, etc.).

With this information in hand, organizations can take steps to preemptively prevent customer churn and provide an improved customer experience overall.

Develop a 360 Degree View of the Customer

In addition to discovering the root cause of repeat customer contacts, companies also need to proactively develop a complete picture of the customer journey.  In order to do so, however, they must first aggregate multiple, disparate points of customer information (interactions, transactions, feedback, agent data, etc.) to provide and end-to-end picture of the customer journey.

This is where interaction analytics once again comes into play.

Armed with this actionable customer data from across channels, organizations can begin to form a unified view of the customer.  The end result?  More actively engaged customers who feel both seen and heard by organizations – regardless of the communications channel used.

Improve Future Customer Interactions

Over the next four years, the customer experience market is predicted to grow from $1.6 to $4.1 billion, roughly a 20% increase.  What this means for organizations across industries is there is an imperative to prioritize the customer experience to remain competitive in the marketplace in the years to come.

“In order to get globally connected, companies must frequently monitor [customer] touchpoints and follow up with their customers by understanding their needs and wants for improving loyalty and experience,” notes a Smart Customer Service article covering the research findings.

To continually improve communication with customers, proactive companies will take advantage of customer interaction insights to develop a better understanding of customers and ensure positive experiences overall.

Final Thoughts

It should come as no surprise that today’s customers are in the driver’s seat – and it’s up to companies to provide the types of experience they’re looking to have in order to foster customer loyalty and repeat business.

The above list represents just a few of the ways organizations can use interaction analytics to do so.  How is your company creating customer loyalty?  Have you leveraged interaction analytics to get to know your customers better?

©iStockphoto.com/HASLOO

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Posted in Customer Experience, Speech Analytics