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How Interactive Voice Response Boosts Profitability of Call Center Companies

How Interactive Voice Response Boosts Profitability of Call Center Companies

Interactive voice response technology has become widely used by call center companies over the years. It is the voice-driven menu that incoming callers experience. With a basic IVR system, callers respond to the voice via pressing buttons on their telephone keypads. With a more sophisticated conversational IVR system, customers speak when prompted and the IVR system understands keywords to respond appropriately and help the caller in a relevant way.

In addition to directing customers to the right departments and the information that can best answer their queries, IVR systems are able to do a lot more. And when you understand all of an IVR system’s capabilities, you will see how the technology can boost call center profitability.

Quick and Accurate Call Routing Leads to Customer Satisfaction

When callers are not routed to the most relevant resources to handle their queries in the right way, customers can soon become frustrated with the automated system. You do not want your customers to experience any difficulties when calling. If they do experience frustrations, they could never return to your company.

With the latest IVR system, speech recognition technology is utilized to more precisely identify callers’ needs and direct them to the best human agent for handling the specific issue. When customers are able to swiftly get through to the person who can help them best, your company will be able to retain those customers and build a reputation for customer care, which will attract new customers. So, with IVR technology’s routing capabilities, you save time, your customers are happier, and you gain an increased opportunity for future sales.

IVR Systems Can Provide Caller Prioritization

With an IVR system, caller data can be collected and analyzed to ensure certain customers are prioritized. By screening customers, your IVR system can prioritize them based on their concerns, prior engagements, and loyalty level. A speech-based IVR system can also determine specific words, phrases, and other variables to determine the priority level. Therefore, customers with urgent needs can get through to human call operators quicker and have their issues addressed immediately. By being able to identify and prioritize high-value customers, you will be able to get them into the sale cycle faster.

Self-service Actions Reduce the Number of Human Interactions Needed

While IVR systems enable callers to get through to the best human call agent for handling a specific query, the systems also enable many customer concerns and questions to be handled directly by the IVR system, meaning they never have to speak directly to a call center agent. For instance, IVR could direct customers to an automated service for paying bills or direct callers to self-service web apps. By encouraging callers to find their own answers, your business can reduce the number of human interactions required, thus reducing costs and increasing customer satisfaction. Outbound, proactive IVR systems can even use customer patterns to reach out to customers with things like reminders for renewals, helping to drive your revenue and boost your profitability.

Feedback Gives You Relevant Data to Use in Marketing Strategies

To come up with effective marketing strategies to boost your company’s profits, gaining customer feedback is crucial. Once you analyze and understand your target audience’s needs, feelings, and demographics, you can create specific marketing campaigns. IVR allows you to do that. It is the perfect mechanism for collecting customer feedback after customer service calls, purchases, and other engagements. By generating such valuable information, you can increase customer satisfaction and your revenue.

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by Lottie Pritchard // Lottie Pritchard is a contributor to Businessing Magazine.

Opinions expressed by contributors are their own.