rev up your revenue with analytics-driven continuous workforce optimization

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

© 2013, Genesys Telecommunications Laboratories, Inc. All rights reserved. 3 © 2013, Genesys Telecommunications Laboratories, 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


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


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


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.


Traditional Workforce Optimization

Highly Manual & Fragmented


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


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


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


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


• 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


• 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


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


Automating Workforce Improvement

Training Work Items Escalations Outbound

Automatically Triggered Workflows

Highly Manual and Fragmented

End-to-End Automation

Traditional Workforce Optimization


Continuous Workforce Optimization

Front Office

Back Office

Workforce Optimization

Work Distribution


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

thank you

rev up your revenue with analytics-driven continuous workforce optimization

Technology

critical sales skills

sales process

agent skills

closing sales

customer needs

critical skills

key skills

attempt example sales