Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization
 

Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization

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On Demand Webinar Available Now! ...

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=701U0000000Va34

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Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization Presentation Transcript

  • Rev Up Your Revenue with Analytics-Driven Continuous Workforce Optimization
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.2 Today’s Presenters Sean Murphy Director, Product Marketing Speech Analytics Genesys Michael Miller Vice President Speech Analytics Genesys
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.3 © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.3 Agenda • Introduction • The Pressure to be Profitable • Revenue Generation Inhibitors • E-LOAN Case Study • Speech Analytics Demonstration • Continuous Workforce Optimization • Q&A
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.4 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.5 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.6 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.
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.7 Traditional Workforce Optimization Highly Manual & Fragmented
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.8 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.10 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.11 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.12 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.13 • 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.14 • 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 ApplicationtoCallRatio Fiscal Quarter Application to Call Ratio (Sales Conversion Rate) Targeted Evaluation and Coaching Drive Gains
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.15 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.17 Automating Workforce Improvement Training Work Items Escalations Outbound Automatically Triggered Workflows Highly Manual and Fragmented End-to-End Automation Traditional Workforce Optimization
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.18 Continuous Workforce Optimization Front Office Back Office Workforce Optimization Work Distribution
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.19 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
  • © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.20 For more information visit genesys.com © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved.20 © 2013, Genesys TelecommunicationsLaboratories, Inc. All rights reserved. 20
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