Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization
Jun 25, 2015
Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization
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Today’s Presenters
Sean Murphy Director, Product Marketing Speech Analytics Genesys
Michael Miller Vice President Speech Analytics Genesys
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Agenda
• Introduction
• The Pressure to be Profitable
• Revenue Generation Inhibitors
• E-LOAN Case Study
• Speech Analytics Demonstration
• Continuous Workforce Optimization
• Q&A
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The Pressure to be Profitable
*Loudhouse Research study
69% of contact center executives believe they
are "business critical revenue generators“*,
even when their contact center’s primary focus is
customer service
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The Skills Gap
86% of contact center executives do NOT think
that their agents currently have the skills required to meet their up-selling and cross-selling objectives*
*Loudhouse Research study
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The Cost of Asking Agents to Sell
Asking agents to sell can increase average talk time
by 10% to 15%, which increases operating
expenses since more agents are required to handle the
same number of calls.
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Traditional Workforce Optimization
Highly Manual & Fragmented
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The Solution for Targeted Agent Training
40%
53%
7%
Very effective
Effective
Neutral
Effectiveness of Interaction Analytics for Targeting Agent Training Needs
Source: The Contact Center Decision-Makers’ Guide 2014
Case Study: Increasing Sales Conversion Michael Miller
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Goal: Increase Sales Conversion
• Validate Sales Process
• Identify important skills in closing sales
• Understand nuances of skill usage
• Identify who is using skills, who isn’t
• Measure skill usage improvement after training
Customer Success Story
Decision Process
Why Speech Analysis?
• Needed a cost effective solution to access the voice of the customer
Selection Criteria
• Accurate and Complete
• Intuitive
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Evaluating Agent Skills with Speech Analytics
• Building Rapport
• Probing for Needs
• Educating Customer
• Creating Urgency
• Up-sell Attempt
Example Sales Skills Mapped Phrases
• How are you today?
• What’s the weather like
• How long have you lived in
Building Rapport
Probing for Customer Needs • What are you trying to do
• What is most important to you
• What are you looking for
Creating Urgency • If you buy today
• The prices are great now
• We are having a sale
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Key differentiators to sales conversion
Even top performers are not good at discussing benefits
0% 5% 10% 15% 20% 25% 30%
Asking for an Application
Exhibiting Courtesy
Open Probes: Competition
Discussion of Benefits
Building Customer's Ego
Open Probes: Customer Needs
Educating the Customer
Building Rapport
Bottom Agents
Top Agents
Top and Bottom Agents: Skill Usage Comparison
Validate Sales Process and Key Skills
No significant impact on
sales conversion
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• Precise agent scoring for each key skill • Targeted coaching and role-plays
0%
5%
10%
15%
20%
Agent1 Agent3 Agent5 Agent7 Agent9 Agent11 Agent13
17.0%
6.8%
14.7%
8.7%
13.4%
8.3% 9.9%
8.3% 9.4%
13.8%
8.6% 6.9%
9.2%
Building Rapport
Targeted Evaluation and Coaching
% of Calls
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• Learning impact measurement • New agent evaluation for advancement • Ongoing agent development
15.30%
17.80%
21.60%
12%
14%
16%
18%
20%
22%
24%
Q1 Q2 Q3
Ap
plic
atio
n t
o C
all R
atio
Fiscal Quarter
Application to Call Ratio (Sales Conversion Rate)
Targeted Evaluation and Coaching Drive Gains
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Proven Results
Solution
• Deployed in 8 business units
• Identified which critical skills had the highest impact on sales conversion rate
• Analyzed importance of frequency, timing and order of skill usage
Benefits
• Modified training program to focus on critical sales skills
• Used Speech Analytics to confirm when new hires were ready to take customer calls
• Increased sales conversion 41% (15.3% → 21.6%)
Continuous Workforce Optimization Sean Murphy
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Automating Workforce Improvement
Training Work Items Escalations Outbound
Automatically Triggered Workflows
Highly Manual and Fragmented
End-to-End Automation
Traditional Workforce Optimization
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Continuous Workforce Optimization
Front Office
Back Office
Workforce Optimization
Work Distribution
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Summary
Driving revenue is a key ‘use case’ for Speech Analytics • Automatically measure, monitor and improve agent skills
• Most reliable method of skills definition & measurement is to define skills according to phrases used during conversations
• Enables highly targeted evaluation, training and coaching
•Continuous Workforce Optimization • The reliability of the analytics ‘make or break’ the business case
• With high reliability plus combined workforce optimization & work distribution, analytics become actionable
• Automatically triggered workflows reduce manual tasks for Supervisors, Trainers and Coaches
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For more information visit genesys.com
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