Online Retail is a competitive sector, and providing exceptional customer experience whilst optimizing operational efficiency in a revenue collections space are crucial for success. However, many businesses struggle with identifying the rooted pain points that hinder their ability to deliver on their goals. One such business recently partnered with Genii Analytics to identify and address their challenges, leading to brilliant improvements. In this blog, we explore how Genii Analytics’ innovative solutions helped the online retail business unlock real agent controllable opportunities and transform their collections operations. We look at how Genii Analytics unlocked real agent controllable opportunities, leading to improved disposition accuracy, enhanced customer satisfaction, and increased operational efficiency. Learn how Genii Analytics’ AI-powered data analytics and insights platform helped the business identify and address pain points, optimize processes, and drive personalized customer interactions. Below you will find out how this innovative solution has helped online retail businesses gain a competitive edge, optimize their processes, and achieve remarkable success in the competitive market.
CHALLENGE:
The online retail company faced significant challenges meeting their required KPIs, which for leadership was baffling because on the surface it seemed all processes were adhered to. The disposition data suggested that a higher than expected number of customers were committing to payment and not following through. This naturally meant the revenue collections targets were missed and in an already fast-paced, high pressure environment of a call center floor, this can be frustrating. Disposition data refers to the outcome from the interaction between customer and agent, such as completing a sale or taking a payment.
The Genii Interaction Intelligence Solution would then be underway, which analyzes the customer interaction data at its core and provides quantifiable insights with actionable solutions. The dispositions data provided by the online retail company suggested that most reasons for not being able to collect revenue from defaulters was outside of the call center agents control. With the objective of understanding factors in the call center agents control and those that were opportunity areas by agent and agent improvement, the data also needed to be scaled, which is done brilliantly through the Genii Interaction Intelligence Solution. We honed in on collections from their whatsapp channels. We discovered some great data which showed us that 43% of the time a customer made a commitment to pay and it wasn’t actioned, it was due to the call center agent’s behavior and not outside of the agent’s control. This also suggested that the call center supervisors, team leaders were not covering the elements they should as part of their job description.
Looking deeper into the data we saw that agents struggled with active customer engagement and discovered that 59% of the time this was dispositioned, it was due to failure to empathize with the customers, failure to acknowledge and respond to the customers queries and lastly call center agents forcefully disconnecting the interaction with the customer. We also identified process adherence gaps alongside tone, politeness challenges.
SOLUTIONS:
A multidirectional plan was put into place and implemented by Genii Analytics in collaboration with the Online Retail company and the results were phenomenal. Personalized improvement roadmaps were assigned to each call center agent, focusing on their individual development areas, such as rapport, empathy vs sympathy and product/system knowledge. In the first month of implementation the Online Retail companies leaders were electrified to see an immediate 19% improvement in PTPs and 11% in successful payments. Seeing double digit improvements within the first month, meant the expected growth would be amazing.
Conclusion:
The partnership between Genii Analytics and the online retail business demonstrates the power of data analytics and insights in transforming operations and customer experience. By unlocking real agent controllable opportunities, businesses can optimize their processes, enhance customer satisfaction, and drive growth. With Genii Analytics, online retail businesses can gain a competitive edge in the market and achieve remarkable success!
