ClickFox today announced the launch of ClickFoxGO!, a new packaged software and services offering aimed at companies with light to moderate interaction volumes and limited customer service channels. The ClickFoxGO! solution will enable companies of any size to gain deep and powerful insight into customer experience trends and issues faster, easier, and more affordably than ever before.
Leveraging the industry-leading ClickFox CEA technology ClickFoxGO! will deliver advanced dashboards and reporting of high-level customer experience improvement opportunities. Marco Pacelli, ClickFox CEO, says:
“We’ve seen the adoption rate of customer experience analytics grow tremendously in the past few years, but it still remains largely concentrated around large-scale organizations. ClickFox is expanding its offerings to meet the demand for more accessible and affordable solutions to ensure that organizations of all sizes can benefit from customer behavior analysis and insight. This cost-effective solution will deliver immediate ROI and a better understanding of customer paths, preferences and service needs.”
ClickFoxGO! packages are available for a single interaction channel (such as IVR), or cross-channel environments, and include:
Up to 5 million analyzed customer interactions per month
ClickFox is proud to announce the launch of Customer Experience Analytics Insight (CEAi), a new industry research service to map the complete customer experience and identify the greatest opportunity for improvement across interaction channels and key points of service:
Rooted in analytics engine of 240 million monthly customer interactions, industry research pinpoints customer behavior trends and best practices
Findings reveal biggest opportunity is for companies to improve self-service to increase deflection and lower costs
Small improvements in heavy transaction volume areas drive multi-million-dollar savings for large organizations
Initial CEAi findings reveal a critical need for companies to focus on improving voice self-service:
Over 40% of self-service interactions result in transfer to a live agent, driving hundreds of millions of dollars in increased operating costs for call centers.
Deeper analysis reveals that 10% of these interactions transfer due to a failed transaction, and 24% transfer without even attempting self-service, pointing to a need to identify where customers encounter issues to truly make self-service experiences more intuitive and effective.
The most compelling findings and proven best practices of category leaders for optimizing voice self-service is detailed in a market brief, available for download at: http://web.clickfox.com/ceai-voice-self-service/.
ClickFox announced today significant company growth in the first quarter of 2010. With a growing roster of Fortune 500 customers in the utility, financial services and telecom industries, ClickFox continues to expand an already massive repository of customer experience behavior data and is now processing close to one billion cross-channel customer interactions per month. Say ClickFox CEO, Marco Pacelli:
“Market demand for actionable insight into customer behavior and experience continues to grow exponentially. A plethora of tools such as speech analytics have emerged in recent years, but only deliver insight into single-channel interactions (often at the conclusion of the customer experience instance), neglecting the fact that a majority of customers today utilize multiple touch points to interact with companies. Without insight into this cross-channel customer experience, organizations are missing out on huge opportunities to deliver efficient, effective and rewarding experiences.”
ClickFox announced today that it has signed a multi-year contract with a leading Fortune 500 energy company to analyze several million monthly customer interactions across a variety of service channels. The organization will use ClickFox CEA to track and analyze customer behavior across their web site, interactive voice response (IVR) system and call center (including agent desktop, call routing and electronic dialogue) to get a complete picture of the full experience from the customer’s point of view.
Says Marco Pacelli, ClickFox CEO:
“This new relationship further deepens ClickFox’s domain expertise in the energy industry and adds to an already impressive roster of Fortune 500 utility companies. With the addition of this customer, we now have insight into customer behavior for nearly 40 million energy consumers in the US, enabling us to focus on the most critical areas impacting their experiences and develop industry best practices for cross-channel customer experience excellence.”
Have you had a chance to check out our new Customer Experience ROI Calculator yet? It’s a truly unique ROI tool and many people have tried it out so far with a lot of eye-opening results. I’ve decided to put together a few posts with examples of using the calculator, based on fictitious examples of large, medium and small companies. Today we’ll tackle the large company example. First, I’d like you to take a quick look at the introduction video (click here if reading through RSS or email):
We’re going to look at a company that currently has 10 million customers and is growing at an annual rate of 5%. By leaving all the defaults in place we see that this company has 300 million customer interactions per year. These interactions are through the phone channel (IVR and Agent), Web and Retail. With a 5% increase in self service rates and industry average costs of $5 for a live agent call, $.50 for self service IVR, $.05 for a web session and $20 for a retail visit – we come to almost $1B in cost savings over 5 years. But let’s break this down a little and see what happens in a few scenarios.
Scenario 1: Let’s assume that the company in question is in the healthcare industry and has a much higher live agent cost per call, say $20. We’ll also reduce the number of retail visits to zero and the number of web sessions to 5. We’re going to keep our average number of calls per customer to 8 per year and see what happens. Now the 5 year savings have increased to almost $2.2B over 5 years. But the annual growth target should be lower so we will change it to 2% and we’ll lower the current self service rate to 40%. Even with those changes we’re still looking at a little over $2B in cost savings over 5 years.
Scenario 2: Now we’re going to look at a financial institution that has a robust website and a highly effective self service IVR system. Customers call for various reasons, from ordering new checks or checking an account balance (that can both be easily accomplished in self service) to disputing a charge, which may require speaking to a live agent. I’ve increased the number of calls to 12 per year and number of web sessions to 24. I’ve also increased the self service rate to 75% but reduced the average annual improvement in self service and the annual growth rate of the company to 2%. Even with these reduced improvement levels this company would be able to realize over $1.1B in costs over 5 years.
Scenario 3: This time we’ll look at what happens to a cellular provider who only allows customers to get to an agent after an extremely elaborate IVR. Customers still get through at a very high rate of 70% and they call in 20 times per year. Since these are fairly short calls, each of the company’s live agents is able to handle 35 calls per day. We know that many of these calls can be self-served so we’ll leave the annual self-service improvement level at 5%. At these rates this company will have a slow start and will only realize a little over $400K in costs savings during the first year. But over the course of 5 years that will grow to over $1.4B in total savings.
Do you want to find out how your company can realize these kinds of savings with ClickFox’s Customer Experience Analytics solution? Check out our free Customer Experience ROI Calculator and customize it to your needs. You might also want to read our CEA White Paper to get a better understanding of how it all works.
ClickFox today released a free interactive Customer Experience ROI Calculator and we invite everyone to try it out. Focused mostly on operational efficiency, this real world calculator was designed based on previous engagements with leading, world-class organizations across several industries. These companies have already realized millions of dollars in cost savings by identifying ways to serve their customers more efficiently across different interaction channels.
We tried to keep it as simple as possible and all you need to do to use the ROI calculator is enter the number of customers your company serves. The tool then calculates your potential ROI using default data gathered from ClickFox’s growing repository representing billions of complex customer interactions. You can then play around with many optional parameter ranging from cost per interaction and channel-to-channel transfer rates, to specific measurements such as annual self-service containment improvement goals.
There’s also a quick instructional video to help you get started.
When you’re done, you’ll be able to download a customized ROI Report, which includes graphs showing potential operations savings over a 5-year period. The report provides details on specific areas of impact that have been identified as having the most significant and immediate effect on an organization’s bottom line. This also includes real-world examples of customers who have achieved huge returns using CEA.
“ClickFox’s calculator is extremely useful for demonstrating the tangible financial benefits of cross-channel customer experience analytics,” said Marco Pacelli, chief executive officer of ClickFox. “The calculator was built not just for customer experience decision makers, but also executives in finance, sales and marketing, product development and more, who need to understand the impact that customer experience has on their departments and the overall business.”
We announced today that we’ve grown our processing volume to over 750 million customer transactions per month, up from 500 million earlier this year. These complex cross-channel customer interactions span across multi touch-points and include Web, IVR, CTI, CSAT, Live Agents, Handheld Devices, Interactive Kiosks and others.
“No other company has gathered such a complete, collective data set that truly represents today’s varied, complex cross-channel customer,” said Marco Pacelli, chief executive officer of ClickFox. “As we continue to grow our customer base, this wealth of data deepens our domain expertise so we can identify and apply proven best practices for our Fortune 500 customers, many of whom have already realized hundred-million dollar ROIs.”
A new press release today details how a top-tier telecommunications organization, a current ClickFox customer, has decided to expand their CEA deployment to now include all customer interactions. Based on a proven track record of multi-million dollar results with ClickFox CEA, this leading wireless provider will leverage both existing and new interaction analysis to further improve operational efficiency, customer retention, revenue generation and customer satisfaction.
From the release:
“The telecommunications industry is challenged with steep competition, high customer churn and highly publicized customer satisfaction issues. These issues need to be constantly monitored and analyzed, and limited analysis doesn’t deliver the insights that drive major, bottom-line changes,” said Marco Pacelli, chief executive officer of ClickFox. “ClickFox CEA provides unprecedented levels of insight to all our telecommunications customers by unlocking high-value, time-sensitive information from previously inaccessible sources, including structured and unstructured data.”
Consumers and enterprises are expected to increase interactions with their financial service providers in response to the current economic climate as they strive to re-evaluate finances and shift around assets. Each of these interactions represents the potential to keep or lose important customers, according to Forrester Research, which two years ago defined customer experience as “one of the key skills for survival in the financial services industry.” That prediction seems even more relevant today as financial institutions strive to retain customers in a climate with few, if any, growth opportunities in the short term.
ClickFox Customer Experience Analytics (CEA) enables some of the world’s leading banking and financial institutions to understand and drive the ideal customer experience by leveraging the significant amount they’ve already invested in automated systems and data collection. By translating complex customer interactions across multiple, self- and assisted service channels – touchtone or speech-enabled Voice self-service, Email, Web, Chat, Agent Desktop/CRM, Kiosks – ClickFox turns data into fact-based insights for optimizing cross-channel business performance and improving overall customer experience.
Last week TMCnet.com published an article discussing the ways that Customer Experience Analytics can help companies overcome the shortcomings of BI tools. Here is a short excerpt from the article:
Certain surveys have found that only 13 percent of companies implementing BI tools will ever achieve their original business objectives. Market research has shown that of surveyed executives in Fortune 500 companies:
76 percent were forced to make decisions because not all the information was available in time 63 percent believe that BI reports are simply reference documents used to justify a decision after it was made 70 percent do not receive reports that provide predictions about problems or potential opportunities.
In today’s complex customer interaction environment, it is becoming increasingly more difficult to navigate through the data jungle in order to find what you’re really looking for. While companies have invested heavily in building multiple customer interaction touch-points, they have neglected to understand that their customers will ultimately decide how they want to interact with them in the first place. Instead of focusing on cross-channel customer behavior patterns, customer tendencies and the ability to understand customer intent, they have been focusing on analyzing customer interactions in silos and using BI tools to generate limited insight.
Although the shortcomings of BI tools can be easily overcome by using new CEA solutions, this does not mean that the time and money invested in BI has gone to waste. On the contrary, a well-designed BI solution with a powerful schema can be used as one of the data feeds into a new CEA system. By combining the capabilities of both systems, working in unison, results will be achieved much faster and with greater ease.
