In our latest webinar with StellaService, we had a deep discussion about the state of modern service. The changes we’re both seeing are undeniable, but now it’s easier than ever to make sense of this omnichannel world with new, stronger metrics.
The bottom line: To succeed in an omnichannel world, you need to prioritize building lifetime value with every interaction. Here’s how to make that happen:
Service Channels Have Fragmented
There’s no use fighting it: customer service has changed. The rise of ecommerce is driving the spread of service channels over mobile, email, chat, social, and more. More interactions means rising customer expectations. To meet them, you need skilled agents who can move with the customer from channel to channel, always pushing the journey forward.
New technologies like chatbots and self-help modules are reducing the numbers of basic service inquiries. This means that agents need to be even more prepared to solve complex, emotionally nuanced problems. However, as agents have taken on more complex service tasks, their turnover rate has increased—reaching 24% for some organizations.
To be successful, agents must be empowered and ready to deliver consultative service driven by a connected experience—and have the training and tools to do so. They need to have all the information about the product or service they’re offering, and have full insight into the back-end to know product availability and other details. They need more context about customers than ever—how often they’ve reached out over different channels, whether their previous issues have been resolved, and how they’ve felt about previous interactions. And, they need to able to engage over multiple channels at the same time, switching from email to chat to phone with ease. Having a single timeline, where the whole history of customer interactions appears, is the only way agents can take an informed approach to building lifetime value.
Going from Service to Experience Requires New Metrics
With these changes in mind, to understand the value your service is bringing to your customers, you’re going to need new metrics. Average Handle Time (AHT) can give you insight into your overall efficiency, but it’s only valuable if you’re approaching your service organization as a cost-center, rather than a revenue driver. If you’re treating your service as a tool to build relationships with customers, then metrics like Customer Satisfaction surveys and QA reports have more value, but these only give you limited context and insight into how your customers really feel about their experience. What’s the right number to measure?
StellaService and Kustomer both tackle this issue from two different sides—which is why we make such great partners. StellaService Connect motivates agents and prompts a response from customers with a gamified post-engagement survey that focuses on the performance of specific agents. They even allow happy customers to tip agents for job well-done, reinforcing the positive experience. By delivering real-time feedback on performance across every channel, StellaService delivers metrics that drive measurable change. Companies like Williams-Sonoma and Swanson Health Products that use StellaService to create a better environment within their customer service organization see a measurable drop in attrition.
Kustomer’s focus is on increasing Customer Lifetime Value (LTV) and promoting First Contact Resolution—helping agents follow the customer across channels during the same conversation. Agents are empowered to connect with a customer over chat, then call them over the phone if needed, then follow up over email with next steps. This ensures that the customer journey is always progressing, meaning shoppers never have to repeat themselves or start over. From the agent’s perspective, omnichannel can increase First Contact Resolution. However your organization needs to be focusing on FCR and ultimately LTV rather than Average Handle Time, as it will take more time to deliver high-touch, conversational service.
Omnichannel Promotes Success
A fully-enabled omnichannel strategy reaps real rewards for your business. 50% of all customer interactions happen during a multi-event, multi-channel journey, so being prepared to deliver great service over multiple channels is a bare necessity. And it shows. Companies with strong omnichannel strategies retain an average of 89% of their customers, versus 33% for companies with weak strategies. A good omnichannel experience is therefore crucial for bolstering your bottom line, as a 5% increase in customer retention can increase a company’s profitability by 75%. In fact, companies see an increase in customer retention of 2-3% just by switching to Kustomer.
To make sense of this omnichannel world, you need to focus on Lifetime Value. To increase lifetime value, you need to understand and motivate your agents, and empower them to deliver a great experience over every channel at once. Together, StellaService and Kustomer help you do both.