rev up your revenue with analytics-driven continuous workforce optimization
DESCRIPTION
On Demand Webinar Available Now! Do you want to evolve your contact center from a “service organization” to a “revenue generating machine”? But how do you achieve this cultural shift without increasing the total cost of operations? How do you get the most mileage from your existing resources? Register now to discover how Speech & Text Analytics capabilities coupled with a streamlined Workforce Optimization (WFO) solution can boost your ability to generate revenue in the contact center. This on demand webinar uncovers the path to new revenue heights, including: Understanding which specific employee skills and behaviours have a positive impact on sales conversion rates Aligning your on boarding and training program to increase “time to impact” Reducing operational cost through automation During this webinar, you will learn how Continuous Workforce Optimization will help you deliver on your ambitious revenue goals. Click here to view the webinar: http://go.genesys.com/2014_Q1_NA_LW_Revenue_AnalyticsDriven_WFO_registrationpage.html?cid=701U0000000Va34TRANSCRIPT
Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization
© 2013, Genesys Telecommunications Laboratories, Inc. All rights reserved. 2
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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