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Sometimes it’s the journey that teaches you the most about your destination. The customer journey speaks volumes about the paths that lead customers to exceptional experiences or problematic outcomes. This sentiment certainly rings true for Western Union’s recent implementation of NiCE Nexidia’s Customer Journey Analytics to ensure a frictionless payments experience for their customers.

In recent years businesses have been rapidly changing the ways they interact with customers and employees by delivering an Experience Transformation. These changes are in response to radical shifts in experience expectations, enabled by technology platforms (e.g. mobile, social and digital) that offer self-empowerment, flexibility and immediacy. NiCE is at the forefront of empowering organizations to transform the experiences they deliver. In this blog post, I will cover Hyper-Personalization, one of the essential pillars needed to successfully accomplish this and explain the role NiCE’s solutions play in making it a reality.

A successful customer interaction with an agent depends on the agent’s ability to engage and connect with the customer. Today, 60 percent of consumers end a customer service interaction with an agent due to lack of engagement. It’s no surprise then that these consumers also report dissatisfaction with the level of customer service they receive. Recently, NiCE surveyed more than 3,000 consumers across the US and UK to understand their customer service interaction preferences and a key takeaway from the 2019 State of Analytics in Customer Service survey is that the role of intelligent analytics is critical in ensuring a personalized customer experience. Moreover, the research shows that analytics-driven interactions are key to a successful omnichannel approach.

Customer churn can be extremely taxing on any organization. The toll it takes is not limited solely to lost revenue. Statistics show that, on average, 65% of an organization’s business comes from existing customers, and acquiring new ones is 15 times more expensive than retaining existing customers. So the full cost of customer churn consists of lost revenue and the marketing costs involved with replacing churned customers with new ones.

When measuring customer satisfaction, the experts seem to agree that no single measurement can properly address all the service factors that influence customer satisfaction. The recommendation is usually to engage in some trial-and-error experimentation to find out which mix of measurements is the most effective for your company.

It seems as though the contact center industry is hurtling toward digitization and wholesale adoption of digital channels at the speed of light. Here’s the thing, though – voice still matters.

​IVR is a widely used contact channel because it allows customers to accomplish simple and straightforward tasks independently and conveniently. Interactive Voice Response (IVR) is a telephony menu system that enables the dial pad for identification, segmentation, and routing of callers to the most appropriate agent in your contact center. Even though companies are providing new contact channels such as web portals, chatbots, and mobile apps, the self-service IVR channel still accounts for 73% of contact center traffic!