Bell Business Insights newsletter

The customer experience: Key to increased profits

Would you be surprised to hear that a 5% reduction in customer attrition can produce a 25 to 100% return on profits?

This has a lot to do with the costs of keeping the customers you have versus attracting new ones, making customer experience the subject of serious c-suite attention. 

It is critical to remember that real improvements in customer experience requires the focus of the entire organization, because the experience is influenced by every customer touch point – from contact centre to Web, billing and marketing.  Accordingly, change involves both business process and technology improvements.

Take the call centre.  You can increase satisfaction by ensuring customer service representatives (CSRs) have all the information they need on one screen.  Similarly, segmentation and intelligent call routing ensure high value inquiries quickly reach the right CSRs, while low value calls are routed to self-service.

The Web also holds tremendous potential for a better customer experience and increased conversions. Consider the abandonment of a call to action. At critical junctures, the Web system can pop up an agent chat box to provide live agent help. Visitors see “click to upgrade to voice”, and a representative can walk them through the process with co-browsing, which allows them to see what is on the visitor’s screen. Have a look at our Web solutions best practices piece for more in-depth online recommendations. 

While there are a dozen touch points which influence the customer experience, studies show that customer service is the most important factor in consumers’ willingness to stick with a company.  You can see how your organization’s customer experience stacks up with our needs analysis tool.

Knowing the root causes of dissatisfaction is the first step in determining what to fix.  Web and voice analytics can also go a long way to determining source of discontent. 

In a nutshell, Web analytics casts light on what customers are doing, while voice analytics demonstrates why.  

Voice analytics involves keyword analysis of a large sample of recorded calls, shedding light on everything from poor business processes to real time competitor intelligence.  

Web analytics is about extreme measurability, revealing every aspect of each user interaction with the Web site. It can cast light on performance metrics of every kind vis-à-vis any segment of visitors, whether they are sorted by geography, actions taken on the Web site or other factors.

You can find out more about measurement and other attrition control tools in our Top tips for improving the customer experience and our in-depth question and answer session with Yves Sabourin, Bell’s Marketing Director for Web Solutions and Contact Centres.

As always, we welcome your feedback on the tools and resources we offer you in Impact and on any other aspect of our services.

Best regards,

Stéphane Boisvert

President, Bell Enterprise