What is customer loyalty?
Gaining a deeper understanding of customer loyalty and the benefits it holds is an important first step to take towards developing your customer base....
By: Mark Lockyer, EMEA Sales Director, CallMiner
With the introduction of the Open Water initiative in April 2017, UK water suppliers are facing new competition for business customers. Gone are the days of relying on postcode generated revenue.
This change brings increased scrutiny on Service Incentive Mechanism (SIM) scores as businesses start to shop around for services and research customer experience ratings of different providers. To stay competitive, water companies must invest in improving customer experience and taking action where needed.
Successful customer experience programs leverage interaction analytics to support efficiency monitoring, call diagnostics, and agent coaching.
- Efficiency – First call resolution, average handle time, IVR tuning
- Diagnostics – Root-cause analysis of call drivers, automation opportunities
- Coaching – Training, script and/or legal compliance, performance tracking
Using an interaction analytics solution to combine insights from all three of these areas provides a holistic view of how customers are interacting with the company, regardless of chosen channel. In analysing these unstructured interactions and turning them into useable structured and consumable data the organisation is able to assess how internal processes and people influence Customer Engagement. By understanding both internal and external factors impacting their customer experience, UK water companies can start to address changes that need to be made and, most importantly, track the impact of those changes with quantifiable analytics.
It won’t happen overnight, but customer experience ratings will improve with an investment in interaction analytics and companies will see a significant ROI for their efforts – both through residential SIM score impacts and customer growth and retention in the non-residential market.
