HOW TO DEFINE THE ROI OF YOUR QUALITY ASSURANCE PROGRAM

Transcription

1 Session 306 HOW TO DEFINE THE ROI OF YOUR QUALITY ASSURANCE PROGRAM Art Hall, Director, Alvarez & Marsal Agenda Current Reality Customer Experience and Quality Assurance Program Maturation The Financial Impact of Quality Customer Care Qualitative vs. Quantitative Customer Experience Drivers Defining the Experience New QA Metrics to Consider 1

2 Most QA Programs Drive the Wrong Agent Behaviors Voice Traditional Requirements Proper Opening / Closing Verify Customer Profile Use Customer s Name Twice Documented CRM Proper Opening / Closing Use proper grammar Adherence to policies / procedures Correct spelling used Correct punctuation used Rationale Properly represents the company Ensures customer privacy Customer perceives the agent is engaged and listening Compliance requirement Properly represents the company Agent pays attention to detail Compliance requirement Agent pays attention to detail Agent pays attention to detail For QA Programs to be Truly Effective, QA Metrics Must Align with Customer Experience Drivers Agenda Current Reality Customer Experience and Quality Assurance Program Maturation The Financial Impact of Quality Customer Care Qualitative vs. Quantitative Customer Experience Drivers Defining the Experience New QA Metrics to Consider 2

3 How Certain Verticals are Addressing Customer Expectations in Service Delivery and Quality Industries are making strides in basic customer service transactions but can learn lessons from other industries CX Dimensions Multi-channel Information Access Expanded Hours Price Comparison Seamless Integration Loyalty Programs Retail Banking Airlines Hotels Healthcare Mature Mature Mature Developing Developing Mature Mature Mature Mature Developing Mature Developing Unknown Unknown Developing Unknown Mature Mature Mature Developing Mature Mature Mature Mature Developing There is a Bit of Tension Involved with Transforming QA Programs to Deliver a ROI Customer Experience (CX) requires the following changes however upstream issues causes downstream problems Your QA Program should be a response to changing customer expectations Governance Cultural Process Discipline Adoption issues with agents; outsourcers Coordination and syndication with HR Investment in enabling technology required i.e. VOC programs, mystery shops Legal / compliance; Audit; Regulators Personal contact Flexibility Customer needs Follow-up Trust / Authenticity Knowledge Responsiveness 3

4 Agenda Current Reality Customer Experience and Quality Assurance Program Maturation The Financial Impact of Quality Customer Care Qualitative vs. Quantitative Customer Experience Drivers Defining the Experience New QA Metrics to Consider Apples to Oranges Traditional contact center performance and customer-centric metrics are completely different ways of examining business performance Examples of Contact Center Metrics Average Handle Time Cost per call First call resolution Hold time Examples of Customer- Centric Metrics Incremental quarterly revenues driven by word of mouth recommendations Changes in Net Promoter Score tied to Customer Service Changes in Lifetime Value tied to Customer Service Month-to-month change in Lifetime Value tied to queue time 4

5 The Financial Impact of First Contact Resolution (or Lack Thereof) # Calls to Resolve % Overall Calls # Problems # Calls Offered 1 60% 60,000 60, % 20,000 40, % 15,000 45, % 5,000 20,000 40% 100, ,000 Company Assets Cost per Call Failure to resolve 15% of calls Quality & Customer Care Profitability Impact (per quarter/per annum) 200,000 customers x $1,000 annual revenue per customer 5,000 extra calls x $5.00 cost per call Results in a CSAT drop from 50% to 40%.and the survey says $200M $25,000 extra cost per quarter $80M protected assets or a loss of $20M per quarter $20,525,000/quarter or $82.1M/annum Agenda Current Reality Customer Experience and Quality Assurance Program Maturation The Financial Impact of Quality Customer Care Qualitative vs. Quantitative Customer Experience Drivers Defining the Experience New QA Metrics to Consider 5

6 Steps to QA Program ROI Step One Step Two Step Three Mapping Your Customer Journey Will Inform New QA Standards And Allow You to Start Capturing QA ROI Assumes QA is no longer viewed as a contact center function only Customer expectation and behaviors are the new standards Marry up QA and VOC results at an agent level to start capturing ROI Omni-Channel Customer Journey Map Process Determine critical customer touch points (aka, Moments of Truth ) from customer s viewpoint Document Expected Customer experience (incorporate VOC and benchmarking) Determine actual customer experience Develop tactics to close the expected-vs.-actual gap (incorporate VOC and benchmarking) Sales Fulfillment Service Interest Me 1. Marketing web site 2. Advertisements 1a. Website available > 99.99% 1b. Website satisfaction > Recognition factor > x 1a. Website available = x% 1b. Website satisfaction = y 2. Recognition factor = z Meet My Initial Need 1. Apply by phone 2. Apply by website 3. Get notification of decision 4. Close financial transaction 1a. Review SLAs with hosting vendor 1b. Minimize size of graphics to speed page loads Keep Meeting My Needs 1. Account issue raise by phone or 2. Complain by web mail 3. Receive solution to complaint 4. Hear about other products 5. Take part in surveys 1a. Average hold time < 2 min 1a. Average hold time < 2 min 1b. Application time < 10 min 1b. 1 st time resolution > 95% 2a. Website available > 99.99% 2b. Application time < 15 min 5 Develop reward & recognition for achieving or exceeding expected customer experience Develop appropriate set of rewards and recognition 6

7 Identify Your Customers Moments of Truth 1 Incorporate voice of the customer and benchmarking Surveys (conducted by sales, marketing, and / or service Mystery Shops Benchmarking Internal customer improvement efforts To inform what the expected customer experience should be at each moment of truth Sales Interest Me or The Hook Product / Value / Solution Proposition Fulfillment Meet my initial need Do what you said you would do Service Know what I have done across your channels Document the Expected Customer Experience 2 Customers use a mix of different channels to find a solution Web Contact Center Agent IVR Field Service Technicians SoLoMo (Social, Local, Mobile) And bring their perceptions or dissatisfactions with them once they reach an agent Contact Center Average hold time is less than two minutes When I speak with an agent, they understand why I am calling before they ask me 7

8 Determine the Actual Customer Experience 3 Having good data and historical context is necessary Data Warehouse / Data Stores CRM ERP Opt-ins Catalogue Billing Order System Voice of the Customer To determine the actual customer experience against the benchmarks your company sets Online Online satisfaction = x% Contact Center Average wait time = x% Answered question on first attempt = y% Agent was knowledgeable = z% Tactics to Close Gaps in Performance 4 QA syndicates performance cross-functionally Front-Office Middle Office Back-Office to develop tactics to close gaps to improve and measure customer performance Online Review SLA with hosting vendor Contact Center WFM should incorporate special onetime events marketing events in longterm forecasting models 8

9 Reward Agents for Customer-Centric Behaviors 5 Additional incentives should be considered to reward agents for customer centric behaviors Front-Office Middle Office Back-Office to develop tactics to close gaps to improve and measure customer performance Online Review SLA with hosting vendor Contact Center WFM should incorporate special onetime events marketing events in longterm forecasting models QA Monitoring Guideline Design Tips Make the form easily updateable Customer needs change; product & services change; YOUR business changes Make the form specific down to the skill & knowledge level of the agents Take an a subject area like Listening and break it down into smaller components Consider trending specific areas of your QA form to be used for future coaching and training opportunities Develop the quality monitoring form based on the competency of the job Consider graded and non-graded measures There may be specific areas you want to grade to drive behavior change, but there may be other areas that you want to note but the score is not relevant to driving the right agent behavior Example: Will the customer choose to take their business elsewhere because the agent didn t use the proper greeting? 9

10 QA Voice Monitoring Guideline - Example QA Monitoring Guidelines - Example 10

11 Agenda Current Reality Customer Experience and Quality Assurance Program Maturation The Financial Impact of Quality Customer Care Qualitative vs. Quantitative Customer Experience Drivers Defining the Experience New QA Metrics to Consider New QA Metrics to Consider Contact Center ROI What? Measures the value creation/destruction of customer interactions at an organization level Enablers Contact Center income statement or P&L Agreed upon calculation for ROI Number of customers served during the period Way to capture VOC Revenue/customer Fully loaded costs (G&A) Agent Peak Performance Index Measures the value creation/destruction of customer interaction at an agent level Fully loaded agent costs QA Score by agent VOC tied by agent 11

12 Contact Center ROI Need the number of customers served by the contact center and their monthly value (marketing metric) Figures obtained by determining the percent of customers who were delighted by their experience Figure shows the quantitative value of the contact center to the organization Agent Peak Performance Index Calculation Agent ROI x Accuracy (QA Score) / % Delight Treating Customers as Valued What it Measures Each agent that a survey is conducted is scored by the actual voice of the customer If the index is falling, it raises a red flag to supervisors/trainers for additional coaching/training If the index is rising, it demonstrates which associates are providing customer-centric support 12

13 Benefits vs. Limitations Contact Center ROI Benefits Measure begins to syndicate the value of the contact center across the organization and places a value on successful customer interactions Limitations Must have a way to capture delighted and dissatisfied customer interactions (may require investment) May not agree with formula or approach Contact center costs are not included Agent Peak Performance Index Quantifies the value and impact an agent may have on customer interactions Fully loaded agent costs are not included In Conclusion The purpose of QA is not improve quality scores but to improve quality holistically This means QA has to be positioned to understand and measure customer perceptions cross-functionally and not just within the confines of the contact center organization Executive support and syndication is required to get peers to buy-in to this #ACCE13 #ACCE13 #QAROI icmi.com

14 Keep in Touch Art Hall Alvarez & Marsal Business Consulting 3426 Peachtree Road, Suite 1500 Atlanta, Georgia Direct: Mobile: Thank you for attending Please fill out a session evaluation 14