As we discussed in our blog post Telecoms Crack Down on these 8 KPIs with Performance Support, Average Revenue Per User (ARPU) is a key metric for any telecom operator and one that is of rising concern in today's saturated and cut-throat competitive market. Telecoms are struggling with increasing, or even just maintaining, ARPU levels as new entrants are focusing on increasing the number of subscribers and reducing prices to do so. This has the effect of reducing ARPU for all operators as everyone is forced to reduce their prices in order to maintain their market position. As a result, telecoms are challenged with inventing new and better ways to drive ARPU to ensure the profitability of their call centers.
Given the significant transformation in the telecom industry, telecoms have started realizing that the best to increase revenue and ARPU is by building strong, lasting customer relationships. In a Yankee Group survey of service provider C-level executives, 95 percent agreed that improving customer experience leads to an increase in ARPU. Today's savvy consumers pay close attention to the additional value, interaction (personal and online), and level of customer service that they are getting from their providers. These factors are vital elements of the purchasing decision and can be as important as price.
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Performance Support Systems (PSS) drive a company's ability to deliver an experience that sets it apart in the eyes of its customers that will increase revenue growth and inspire loyalty. These systems enable a seamless business process within the application or across multiple applications, so that your agents can perform tasks faster, with fewer errors, and devote their full attention to the interaction with the customer. Companies using performance support technology typically experience lower Average Handling Time (AHT), increased First Call Resolution (FCR), and an increase in sales effectiveness – all of which lead to an improved customer experience and ultimately higher ARPU.
Here are 3 ways telecoms can build upon their core capabilities with Performance Support to thrive in today’s competitive market and drive ARPU:
1. Recommend personalized service offerings (up-sell, cross-sell)
Performance support works on a simple and effective principle - delivering the right information, to the right people, at the right time. The system identifies sales opportunities by analyzing the data on the customer and the customer's eligibility for possible promotions or sales campaigns while the call takes place, driving cross-sells and up-sells. Also read: 5 Best Practices for Call Center Agents to Drive Sales
With the information readily available during the call, the agent can focus on the personal interaction with the customer – simultaneously increasing the average deal size and ARPU, while building customer trust and rapport.
Watch Performance Support in action demonstrating how Leo assists contact center agents to identify and improve cross-sell results:
2. Handle customer inquiries more efficiently (improve FCR)
Creating loyal customers starts with the minimum – meeting their most basic expectations. Recent research suggests that no single metric has a bigger impact on customer satisfaction than FCR. In a study of more than 150 call centers, the Service Quality Measurement Group (SQM) found that for every 1% of improvement in the FCR there is a corresponding 1% improvement in customer satisfaction. SQM also found that call centers that achieved “world class” customer satisfaction ratings had a FCR average of 86%, while centers that were not among the elite in customer satisfaction had a FCR average of only 67%.
Performance Support Solution improves FCR by providing your agents with the relevant information at the right time in a manner that allows them to focus on the customer. PSS provides desktop automation and real-time guidance that constantly monitors the agent's desktop activities and suggests support processes that are relevant to the user’s current open and active application and window or automatically perform the action to complete the desired task. The end result is a happier customer that can now be seduced into purchasing an upgraded or complimentary service or product - increasing ARPU.
Watch Performance Support in action demonstrating how Leo improves contact center FCR rate:
3. Go the extra mile for your customer faster (reduce AHT)
Going the extra mile for your customers is the easiest way to build an everlasting relationship. Do it faster and you are golden! Time is a precious commodity for call centers and customers alike. Long handling times can reveal inadequately skilled agents, broken processes and tools, and often higher costs at the company's expense. Longer call times can also mean longer wait times and longer resolution times that negatively impact the satisfaction of the customer.
Often agents spend a lot of wasteful time searching for information buried deep in the application or knowledge base instead of focusing on the quality of customer service they are providing. Performance Support makes knowledge and information extremely accessible, by displaying overlaid tooltips on top of the application itself, at the moment of need, so that agents can focus on creating lasting impressions that drive customer engagement and repeat business.
Watch Performance Support in action demonstrating how Leo lowers AHT by increasing agent proficiency and access to information in real-time:
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