Interactive Voice Response (IVR) calling systems are currently experiencing widespread popularity. It finds space in businesses across various industries, scales, and categories. These systems have replaced the traditional approach of employing live operators to handle customer calls and interactions. IVR technology has emerged as a robust alternative, negating the necessity for live operator intervention.
The advantages of implementing an IVR calling system are abundant, cementing its status. Having an IVR number elevates the efficiency and management of all call-related operations. Proficient management of a call center, in turn, translates to enhanced customer experience and heightened levels of customer satisfaction. These ultimately contribute to an enhanced corporate reputation.
What is the role of an IVR system in the quest to enhance customer service? What are the key performance indicators (KPIs) that have a direct bearing on customer satisfaction? Which are some of the best-in-class IVR solution providers? This blog provides comprehensive answers to all these inquiries and more.
- What Is an IVR?
- The Role of IVR in Enhancing Customer Service
- Customer Service and Its Importance
- Best Practices in Deploying IVR Systems
- What Is a KPI in a Call Center, and Why Is It Important?
- What Is an IVR KPI, and What Are the KPIs for Customer Satisfaction?
- Top IVR Solution Providers
What Is an IVR?
An IVR system is a call center tool with integrated computer and telephony technology. This software automates customer interactions. This is done by delivering a prerecorded greeting or welcome message, presenting them with menu choices, and routing calls to agents based on the selected menu options.
It serves as the core technology in call centers and, when utilized effectively, can significantly enhance the customer experience. Implementing an IVR number (generally known as Virtual Number) empowers customers to self-serve by providing essential information through menu options. This multifaceted system offers numerous advantages, ultimately resulting in improved customer service.
An IVR streamlines operations by efficiently managing high call volumes operates round the clock, reduces the chance of manual errors often made during call transfers, minimizes call waiting times, lowers functional costs, and more.
The Role of IVR in Enhancing Customer Service
Customer service is a very important element in any business. How customers are attended to dictates customer retention. This contributes significantly to increased revenue and the augmentation of a business’s brand value and extends to referrals.
In this context, the IVR system is pivotal in reshaping the customer service landscape. It serves as a linchpin with the following key facets:
Quick Issue Resolution
Recognizing the inherent value of customers’ time is imperative. Swift responses to customer queries often result in heightened satisfaction. Making a customer wait for a long duration leads to poor customer satisfaction (low CSAT score).
The quick resolution of customers’ issues enhances their experience and ignites the business’s reputation. The resolution time is measured by calculating the average time between creating and resolving customer interactions.
Ability for Self-Service
Customers anticipate help and information to be delivered quickly. IVR systems with self-service functionalities empower customers to access the required information via automated prompts. This eliminates the need to route calls to live agents. This, in turn, reduces the likelihood of call abandonment and mitigates high inbound call volumes, thereby providing respite to agents.
Priority Handling for Key Callers
IVR systems can prioritize high-value customers or leads. These individuals can bypass the standard queue and receive immediate attention from the most skilled agents.
A multi-channel solution can compile and utilize data on such leads, spanning various communication channels such as live chat, phone, email, and social media. Specialized IVR options can be tailored to cater to these important callers, ensuring swift and personalized service.
Uninterrupted Availability
Not all businesses can afford to maintain 24/7 staffing levels for customer support. IVR systems fill this gap by supporting customers when human agents are occupied or on leave. This uninterrupted service is a hallmark of IVR’s programmable nature. It enables customers to inquire during non-business hours and leave voice messages for subsequent follow-up.
Elimination of Manual Errors
In the absence of an IVR system, handling high volumes of incoming calls can introduce the potential for human errors. These can include misrouted calls to the wrong agent or department.
IVR, in contrast, operates as an automated system devoid of human intervention. This makes it immune to the errors that may arise from any human receptionists. Moreover, IVR provides a consistent experience to every caller, ensuring uniformity in service delivery.
The role of IVR number in improving customer service cannot be overstated. It streamlines processes, enhances efficiency, and ensures that customers receive prompt and accurate assistance, fortifying the bonds between businesses and their valued patrons.
Customer Service and Its Importance
Customer satisfaction is how happy customers are with a company’s products or services. People often measure it using something called a CSAT Score.
You can ask your customers some questions to figure out a CSAT score. You might give them a quick survey after they’ve used your stuff or service. Different companies do this in different ways. Some ask for a number rating, like 1 to 5, while others might use emojis. It’s all about what the customer likes best.
Once you collect all the survey answers, you can calculate the CSAT score by adding the scores and then finding the average. Another way to measure customers’ happiness is with the Net Promoter Score or NPS. This score is figured out by asking customers if they’d recommend your business to others on a scale from 1 to 10. If a customer is happy with your stuff or service, they’re 60 to 70 percent more likely to buy from you again, and they’re also more likely to tell their friends about your business. So, keeping customers satisfied is super important!
So, for any business, customer satisfaction plays a very important role. It helps you know about;
- The products/services of your business that are very popular amongst customers (this is through survey data)
- The unique selling points of your business’s products/services over your competitors
- The products/services that customers have stopped buying/using
- The areas of improvement for your products/services (as per negative reviews about your products/services online)
Best Practices in Deploying IVR Systems
The IVR systems that are well executed deliver good customer service. This is because they help customers resolve issues more and help your agents handle every call received. If it is not executed correctly, your customers will get frustrated and lose a customer for a lifetime. So, getting an IVR system right is very important for improving customer service.
We have listed a few best practices to follow, even when having the best IVR service provider.
Aligning the IVR Menu to the Pattern of Call Volumes
The IVR menu, a phone tree, allows callers to select from various options. They interact with callers through voice or keypresses.
It is always a good practice to design an IVR menu aligned with the pattern of call volumes. It can also be designed to be aligned to the data that most customers call in about. For example, if call volume is high for paying a bill, you can design your IVR menu with the first option as bill pay. This results in good customer service.
Empower Agents with the Right Customer Data
You can empower your agents with the correct customer data to deliver good customer service. This is possible by using CRM software in conjunction with IVR software. Your agents will already have the information about the customers (name, purchase history, etc). Because of this, they don’t have to ask about little details to customers. This not only saves time but also prevents customers from getting frustrated.
Making IVR Menu More Personalized, Interesting, Dynamic, and Creative
Customer service is improved when an IVR menu is more personalized, engaging, dynamic, and creative. An IVR menu can be more personalized by playing a greeting or welcome message with the customer’s name. The messages played can be made more creative and exciting with trendy music. It can also be made more dynamic. This means you should be able to change the IVR menu per the customer’s needs and likes.
Adding a Customer Service Survey at the End of Each Call
An IVR system with a customer service survey added at the end of each call will improve customer service. This is because it will let you know whether good customer service has been delivered. If the customers haven’t received good customer service, you at least get to know the scope of improvement.
What Is a KPI in a Call Center, and Why Is It Important?
A KPI in a call center is a measurement used by call center managers. This measurement analyzes the efficiency and effectiveness of a call center (its various departments, teams, and individuals). It can track governance, timeliness, behaviors, compliance, project performance, economics, personnel performance, resource usage, etc.
KPIs are essential in a call center because they can measure the quality of work at call centers. These help evaluate whether or not a call center is meeting its goals. It is a critical indicator of progress in call centers.
What Is an IVR KPI, and What Are the KPIs for Customer Satisfaction?
The majority of customers would want or expect excellent service. As a business owner, you might perceive that good customer service is being delivered, but you need to understand how they perceive it. This is where KPIs can help.
The KPIs that improve customer service in call center service are very beneficial. They give a behind-the-scenes look at how agents interact with customers and what kind of customer service is being provided to them. KPIs help you make better decisions and improve your service by providing solid data to improve the gaps. Below is the list of main KPIs that improve customer service in call center service provider in India.
First Response Time
First response time is the most important KPI in enhancing customer service. It is calculated as the time of first response by the agent minus the time of customer request. A high first response time score shows that customers’ queries have been given priority. It also indicates that agents are prompt in responding to the queries. Most customers (60 percent) would like their queries answered in less than a minute. A late first response time can make them leave your website.
Customer Retention Rate
The customer retention rate is calculated by using the formula below;
Customer retention rate = {(number of customers at the end of the process – number of new customers acquired during the process)/number of customers at the beginning of the process)} x 100.
A high customer retention rate shows excellent customer service to be delivered. Notably, statistics show that you need to focus on existing customers.
- Repeat customers spend more than existing ones (by 33 %)
- A 30% rise in the value of the company is associated with a 10% increase in customer retention yields
- The likelihood of converting a new vs. an existing customer is 5 to 20 percent vs. 60 to 70 percent
- A 5% increase in customer retention rates increases profits by 25 to 95%
Moreover, your brand image is improved when you retain more customers for the longer term. It shows they have developed loyalty and trust in you.
First Contact Resolution
First contact resolution is another critical metric. It measures agents’ efficiency in resolving an issue on the first interaction with a customer. The higher first contact resolution shows better customer service provided. It is calculated as the total number of calls resolved on the first call divided by the total number of calls received.
Average Resolution Time
Average resolution time is another important KPI for measuring customer service. It is calculated as the sum of all times to resolution divided by the total number of queries/support tickets resolved. Measured in hours or days, it is inversely proportional to customer satisfaction and directly proportional to customer service.
Cost Per Conversation
Finding out the cost per conversation is an important customer service key performance indicator. It is calculated by dividing the total support costs by the number of issues. It gives you an idea about the cost of each support to your business.
Conversion Rate
A conversion rate is an important customer service key performance indicator. The greater the conversion rate, the greater the success of your campaigns. It shows the customer service was excellent. It is calculated as below;
Conversion rate = (The number of conversions last month divided by the number of visitors to your website) x 100.
Apart from the above KPIs, the Net Promoter and Customer Satisfaction Score are other KPIs that can help improve customer service.
Top IVR Solution Providers
Businesses no longer need to hire people to handle calls these days. Irrespective of business size, hiring people to handle calls is not economical. To make the process economical and more straightforward, picking one of the top IVR solution provider can be confusing and burdensome. Here, we have researched and compiled a list of the best IVR providers.
Office24by7
Office24by7 is one of the best IVR providers offering direct, single-level, or multi-level IVRs. Our IVRs act as virtual receptionists, answering calls from customers timelessly. Office24by7 IVR service provider helps deal customer inquiries with automated, planned responses and transfer them to internal teams as required.
Ameyo
Ameyo is another of the best IVR providers with self-service automation. You can design an IVR as per the needs of your business with this IVR service provider. With an intelligent IVR system, each customer call can be matched with the appropriate agent based on the caller’s input.
Nextiva
Nextiva provides advanced IVR with conversational AI that automates, improves call routing, reduces hold times, and saves money. Customers do not have to sift through a lengthy menu of options. They can simply speak in their language, state their request, and quickly receive the assistance they need.
Servetel
Servetel delivers the best-in-class multi-level IVR solution with a self-service option that will transform your business. Using Servetel’s real-time dashboard, you can track and monitor all your agents and live calls. The many desirable features offered by its multi-level IVR solution guarantee quick query resolution.
Exotel
With Exotel’s IVR system, you can produce an efficient and reliable communication system for your business. Its multi-level IVR number system helps automate your business communication. Its IVR call blaster integrated software allows you to get customer responses at scale without the assistance of agents.
Ring Central
RingCentral offers multi-level IVR systems that allow enterprises to establish customized call tree voice menus. It also includes a simple visual IVR editor and controls for audio prompt management. The IVR system is convenient to use.
Conclusion
Choosing the right IVR system and setting it up is a one-time process that will benefit your business hugely in the long term. It is not something that you can just set up once and leave it; you have to keep reviewing it at regular intervals. You have to consider all pros and cons to select the best IVR service provider.
From time to time, it is beneficial to have an outside perspective. With Office24by7 IVR service provider in India, businesses can rely on a team to maximize IVR systems and other call center technology. You can count on Office24by7 to increase the efficiency of your business and improve existing practices. Call us at +91 7097171717 or drop an email at sales@office24by7.com today.
