martyn riddle, managing director apj, verint

© 2014 Verint Systems Inc. All Rights Reserved Worldwide.

Confidential and proprietary information of Verint Systems Inc. © 2017 Verint Systems Inc. All Rights Reserved Worldwide.

Martyn RiddleDirector of Marketing, APAC

Tuesday, 4th April, 2017

The Contact CentreYour secret weapon in delivering exemplary customer experiences

Confidential and proprietary information of Verint Systems Inc. © 2017 Verint Systems Inc. All Rights Reserved Worldwide. 3

Things Are Changing Fast

Confidential and proprietary information of Verint Systems Inc. © 2017 Verint Systems Inc. All Rights Reserved Worldwide. 4

ACSI - American Customer Satisfaction Index®

Research undertaken towards the end of 2016

Carried out by Opinium, global leader in market research

4,000 consumers across Australia and New Zealand

Study covered multiple verticals including banking, insurance, mobile, utilities, e-commerce and travel

The rise of digital has led to a natural demand by customers to communicate with brands via multiple channels

24% 19%22% 10%

Phone In-storeOnline Email

Communication via social channels haven’t yet caught on

Facebook has more than 15 million monthly active users in Australia & nearly 2.5 million in New Zealand

3% of customers prefer to contact organisations via social media &

9% via mobile apps

FAC

T

Top 5 customer preferred channels

In person over the phone My account online In person at a branch or store Web self service Email/SMS

24%22%

19%

11% 10%13%

12% 12%

8% 8%8%

13%

10%

26%

15%

Consumer preferred channel Consumer channel wanted The channels companies are looking to implement

Customer preferred / wanted versus what organisations are planning to implementTop options for customers

Organisations need to leverage multiple data sources to capture a single view of their customers

4 in 5customers want more personalised services

Beware, there’s a catch.

Customers are concerned about the use of their data and their privacy. 89% want to know how

secure their personal information is

89% want to know whether their data will be passed on to third parties for marketing purposes

75% say they don’t like dealing with companies

that don’t provide a phone number

?( ) = TRUST

Businesses appear to be overestimating their customers’ preference for digital channels

87%Think customers prefer: mobile apps, email or SMS

Yet only 33%Chose these channels

When engaging in a simple customer service request

Overall 59% of Australia/New Zealand customers choose digital channels.

Phone is the most popular option 29%

Email comes a close second 18%

Online account management 11%

When engaging in a mildly complex customer service request

75% of Australian and New Zealand customers will choose human interaction.

Phone is the most popular 45%

In store ranks second 30%

Email with 8%

When engaging in a complicated customer service request

82% of Australia/New Zealand customers in the region prefer human customer service.

Go in store 41%

Make contact by phone 41%

Email at 6%

Preferred channel based on customer service situation

Customer service situation First preference Second preferenceAn answer to a simple question/ request Phone (18%) Email/SMS (17%)

To investigate products/services Web self-service (16%) Online Account (14%)

To close my account Online Account (22%) In Person (15%)

To give positive feedback Email (26%) Online Account (18%)

To change my account details Account online (27%) Phone (10%)

To ask a question about my bill Phone (24%) Email (14%)

To register a complaint Email (18%) Phone (17%)

Urgent technical assistance Phone (28%) In Person (18%)

An emergency service Phone (31%) In Person (19%)

My product/service fixed Phone (19%) In person (14%)

My bill refunded Online Account (21%) Phone (15%)

Com

plex

ity o

f req

uest

Introducing the“Digital Native”

Definition: Customers whose first preference

is to use a digital channel to engage with an

organisation regardless of the complexity of

the enquiry

After a positive customer experience, digital natives are…

62% more likely to talk positively about the experience on social media


50% more likely to sign up for a loyalty program


27% more likely to leave a review

…


66% more likely to renew their product or service even if it isn’t the cheapest option

Preferred channel by generation

Millennials Generation X Baby Boomers Silent Generation

18% 18%

22%

24%

11%

14%

19%

28%

13%14%

17%

4%

9%8%

9%

7%

10% 10%

8%

14%14%

9%

5%4%

6%

4%

2% 2%

Phone In store Email Live chat Web self service Mobile app Social media


Analytics on 100% of Interactions

Speech Analytics100% Transcriptionand analysis on Voice Interactions

Text Analytics Conversational analytics on Chat, Email, Survey and other text interactions

Customer-Initiated Feedback

Social Communities

Website Feedback

Mobile WebFeedback

In-App Feedback

Company-Initiated Feedback (EFM)

E-mailSurveys

Mobile Surveys

SMSSurveys

IVR Surveys

Holistic Voice of Customer/CX Listening Platform

Benchmarking CX Index


• Company customers increased by 13%

• IVR containment rate increased by 3.67%

• Calls per customer reduced by 0.13

“Charging Policy” was driving more than 25% of phone calls.

Improving Digital Channels with Analytics

Updating the IVR, SMS and Web, reduced calls by 10%.


Predicting and Preventing Customer Churn

• Analyzed “lost customer” interactions from past 4 months

• Identified statistically significant terms:o “Ridiculous”, “You People”, “Had Enough”

• Built “At Risk” VoC Category• Identified root-cause of dissatisfaction • Daily “at risk” report sorted by customer value • Team of 4 agents proactively called back to save


ROIx20$11.9M

Saved Revenue

$12.5M

Cost

$600,000 (Verint + Staffing)

• Saved 86% of at risk accounts• Total of 4500 accounts saved to date• Initial ROI achieved within 7 weeks • Savings to date $12.5 Million

Impact on Customer Retention


Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.

Focus on Engaging Employees:They drive the success of your interactions with your Customers

-Richard Branson

To make our

CUSTOMERShappy we have to make sure our

EMPLOYEESare happy first.


Happy Employees = Happy Shareholders


79% of 18- to 29-year-olds agreed that “It is more important to enjoy my job than to make a lot of money” -Harvard Business Review , August 2015

65.6% of employees are disengaged – Gallup, January 2017

2/3 of millennials plan to leave their current organization by 2020. 1/4 see themselves elsewhere within the next year. -Business Insider, January 2016


If an Employee is not Engaged, What Happens?

Lack of Effort

Attrition

Inefficiency

Mistakes

Poor CX

Training Costs

Staffing Issues


Employee Engagement – What does it mean?

Flexibility Transparency Motivation Mobility Empower

• How am I measured and managed?

• Allow me to self-manage

• When, where and how I work

• How can I improve my performance on-demand?

• Anytime, anywhere access to information

• Ability to make changes

• Make it easy for me to help the customer

• Hear me


Employee Engagement – How Can We Help?

• Flex scheduling / employee request management

• Modern Scorecards

• Analytics-driven Quality

• Performance Management

• Gamification

• Mobile Work View - Employee and Manager Apps

Flexibility Transparency Motivation Mobility

• Knowledge Management

• Unified Desktop• Communities• Feedback

Management• Robotics

Process Automation

Empower


Deliver Smarter Engagement Across All Channels

Enrich Interactions

Improve Processes

Optimize the

Workforce