The Power of Combined Interaction Analytics and Voice of the Customer
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38% increase in average order value between low and high NPS
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27% higher conversion rate in customers with high vs low NPS
For more details of our analytics services or to discuss how we can help you generate richer insight from your customer interactions, please get in touch!
Identifying sales opportunities using speech analytics.
Overview
Davies was engaged to help a high street retail client identify sales opportunities using speech analytics and then matched this output to their customer survey NPS data to understand if a better customer experience leads to higher sales conversion and sales values.
Our Approach
Davies developed a set of speech analytics language packs to identify sales opportunities from within the client’s inbound calls. The speech analytics looked to identify a sales opportunity and then how the agent acted to drive conversion. The results were then matched to the individual customer NPS survey data.
The results have proven that the agents that deliver a great experience [as measured by customers] convert more sales opportunities and drive higher revenue, therefore justifying the business case that investing to improve the customer experience would create a positive ROI.
Return on Investment
In our analysis, we segmented agents into 3 simple groups, those with low, medium or high NPS.
The sales conversion between the mid and high NPS groups was comparable, however there was an increase in the average order value of the two groups with the high NPS group delivering a 28% higher average order value.
Comparing the low and high NPS groups, the increase in average order value rose to 38% and the improvement in conversion rate was 27% higher with the high NPS group.
For more details of our analytics services or to discuss how we can help you generate richer insight from your customer interactions, contact:
Lee Mostari
Director of Insights & Analytics
Michael Anderson
Vice President – US/Canada
