74% of customers expect businesses to customize their experience based on the information they know about them. The ability to flexibly respond to your customers is essential when delivering outstanding Customer Experience (CX). And to do that, you need to understand customer service behavioral analytics.
Customer service behavioral analytics cover a huge range of different metrics, KPIs, and indicators. Value-driven customer service behavioral analytics are framed around outcomes; that is, what do they tell you about your customers and your business?
Customer service behavioral analytics can be divided into three sub-categories based on outcome:
Interaction analytics – Those metrics that tell you about a single interaction, its success or failure, and the impact on the customer.
Journey analytics – Those that track the customer across multiple interactions with your business, charting their attitude over time.
Lifetime analytics – Those that view the customer in the long term, measuring lifetime value, as well as customer loyalty and churn on average.
Each of these categories offers a new perspective on your business and your customer service. For the best CX, you need the broadest possible picture.
Interaction Customer Service Analytics
Interaction analytics tell the story of a single interaction. From the moment your customer reaches out to you, to the moment that interaction ends, the customer is generating information. These metrics let you understand and improve your communications on the micro-level, interaction.
Examples of interaction analytics include:
Customer Satisfaction (CSAT) – CSAT is measured by asking the customer one question: “how satisfied are you with your experience?” From here, customers respond on a scale from ‘very satisfied’ to ‘very dissatisfied’. The scale can be from 1-5 or 1-10, giving you a score between 0 and 100.
First Contact Resolution (FCR) – FCR is one of the most significant metrics of contact center performance. It measures the number of interactions resolved on the first attempt – a failure to achieve a high FCR is indicative of inefficient customer support, or perhaps a problem your agents can’t resolve.
Customer Effort Score (CES) – CES tracks the level of effort the customer had to expend to reach a resolution. This metric is a good indicator of how accessible your organization is, and how easily your customers can navigate through your customer contact ecosystem.
Each of these metrics allows you to pick out the pain points in your customer contact. This is incredibly useful at the micro-level, but to build a broader CX strategy, you need a higher level of abstraction.
Customer Journey Analytics
The customer journey doesn’t stop after a single interaction (or certainly, it shouldn’t). To get meaningful insight into the success or failure of your CX, you need a view that spans multiple interactions. Customer journey behavioral analytics include:
AI-Powered Sentiment Analysis – Sentiment analysis is an AI-backed technique that assigns and emotional value to every word in a transcript. The values of those words are then totaled up, to reach an overall sentiment score for that interaction.
Comprehensive transcription – Sentiment analysis, however, needs a transcript to work with. Natural Language Processing (NLP) is an AI-powered technology that allows for word-perfect transcription of every voice interaction. These transcriptions can be tagged to an associated customer record, linking together every interaction, for a complete interaction history.
Predictive analytics – Armed with a complete record of a customer’s interactions, and an overall sentiment score, you can make predictions on their next steps. A low sentiment score can indicate that they’re likely to drop you. It’s time to make proactive contact before that happens.
By building a complete picture of the customer journey, spanning multiple interactions, you can predict what they’re likely to do next. But your business is bigger than one customer, and you need a plan for the long-term.
Lifetime Customer Service Behavioral Analytics
Medium-term analysis can only take you so far; you need a long-term perspective, and that requires a deeper level of analysis. Lifetime analytics are a sub-category of customer service behavioral analytics that let you assess the long-term value of a customer, over the lifetime of your business.
Measuring Customer Retention – Customer Retention Rate and Customer Churn Rate measure the same phenomenon from different perspectives; that being, how many customers stick with your organization. Poor retention means it’s time to rethink your CX strategy.
Customer Lifetime Value – All customers are not created equal. Some will offer greater lifetime value to your business than others. Customer Lifetime Value (CLV) is calculated by an algorithmic process, factoring in customer acquisition costs, average purchase value, purchase frequency, and other factors.
Planning for the long-term – Efficient CX is about managing limited time and resources. By calculating the lifetime value of your customers, you can craft a strategy that prioritizes the most valuable customers, tags them within your systems of record, and routes them to a priority line.
Calculating Customer Lifetime Value isn’t easy. Bringing all these customer service behavioral analytics into a single interface is even harder. You need a powerful, flexible CX analytics solution.
Customer Service Behavioral Analytics with storm®
Customer service behavioral analytics are an essential tool for building outstanding CX. To make them a part of your CX ecosystem, you need a customer surveying solution that can operate over any channel, from voice, to SMS, to social media, and bring that data into a single, easy-to-use reporting solution. Content Guru’s cloud CX solution, storm® provides this through storm ASK™ and storm VIEW™, powerful surveying and reporting tools that put CSAT in the palm of your hand.
Ready to learn more about Customer journey behavioral analytics? Continue your analytics journey by downloading Content Guru’s whitepaper, Beyond CSAT: 4 Tips to Elevate Your CX Reporting, discussing customer satisfaction metrics and surveying strategies.