It’s 2019, and many companies are starting to adopt Customer Experience as a pillar of their ongoing strategy, yet they are still struggling with how to execute. Put simply, the objective of great CX is more people buying more products while enjoying and sharing their experiences with a brand. That’s achieved by offering great products, eliminating inhibitors to buying those products, and mitigating friction points in the post-purchase lifecycle. And where can companies uncover these inhibitors and friction points? From the millions customer interactions for which they’re already paying.
Every sizable company has made investments in the standard customer communication & engagement platforms – website, PBX/ACD, call recording, chat platform and email management. Most companies have added more technology to this stack to handle social media, SMS, surveys, in-app communication and more. Giving customers many options for communicating with a company, buying products, and resolving issues is clearly a necessity that is being fulfilled. Great – check that box.
Most would argue that the millions of dollars being spent in this bucket is simply the cost of doing business. True, and the actual cost of customer contacts increases exponentially when you include the labor cost of contact center agents and management, the costs of facilities, the costs of bandwidth, and more. For large companies, that all-in cost can approach a billion dollars on an annual basis, so it’s natural that the focus here has been on cost. But what about value? Are these investments really just table stakes, or can they be the source of immense strategic value for the business?
We’re also seeing more companies deploying resources in the form of CX or VoC teams to deliver on the promise of customer experience management, but why do they continue to struggle? There are two primary reasons:
- First, the data from each of the communication and engagement platforms listed above tends to reside in different departments across the organization, leading to fragmented and disparate data sets;
- And second, most businesses lack the means to normalize and analyze the sort of unstructured, conversational data inherent in customer communications.
This issue is exacerbated by the seemingly constant addition of new customer communication channels, leading to even more fragmented data. CX/VoC teams find it nearly impossible to conduct analysis on a set of disparate communication channels that can range anywhere from 3 to 12. As a result, they often tend to focus on the most accessible channels, but that’s a recipe for disaster. Every channel matters because customers choose how to communicate based on the reason for contact, accessibility, and demographic preferences. You cannot ignore any channel.
Topbox was created to overcome these CX management hurdles by serving as an “agnostic aggregator” that pulls structured and unstructured interactions from every channel, normalizes and classifies the data, and provides an elegant interface for deep analysis.
Along the way we’ve learned that it allows companies to finally maximize the ROI of their customer interaction assets (technology AND labor), transforming them from cost centers into strategic sources of customer intelligence and business insights.
Our software helps companies of every size and industry leverage their existing technology investments to finally have a complete, unified view of how customers feel about their brand and products, and more importantly, WHY they feel that way. The insights generated from the interactions, and the resulting business changes, is where the true value is!