The ROI of Modern Customer Engagement
Increase sales opportunities, marketing conversions, revenue streams, and employee satisfaction by turning your contact center into a customer engagement center. Part 3 of a three-part series.Read E-Book
The ROI of Modern Customer Engagement
Successful customer engagement is proven to increase sales opportunities, marketing conversions, and employee satisfaction. Engaged consumers tend to be more loyal and will, ultimately, choose to spend their money supporting the brands they love. As they become more demanding and more digital, how do you maintain their loyalty? How do you ensure the delivery of innovative customer experiences at scale, 24/7? Start by modernizing your contact center: if done correctly the rewards are quick and significant.
In this age of "anytime, anywhere, any channel" service, many businesses are finding that customer expectations are getting harder and harder to meet. That’s because many companies are saddled with antiquated contact centers that cannot be adapted to support the most basic customer engagement strategy. To thrive in this digital economy and to retain customer loyalty, enterprises need to improve their communications by transforming contact centers to become proactive, dynamic, intuitive customer engagement centers.
Consider a recent Dimensions Data report which examined companies that have undergone a digital transformation focused on the customer experience. The study revealed that since making the switch over 84% have experienced revenue uplifts and 79% report cost savings. While the thought of transforming the way you connect with customers may seem daunting, there are new technologies that bring together innovative engagement tools allowing companies to adapt quickly, all while keeping pace with their ever-changing customer base. Bonus: these stackable technologies can be instantly deployed today, so you don’t have to wait to engage with customers to accelerate your ROI.
Productivity and Bottom Line Benefits of Successful Engagement
By integrating a modern contact center solution, you will not only realize substantial productivity improvements and uncover increased revenue opportunities; you’ll also gain tangible engagement benefits such as:
Relevant proactive communications.
With a modern contact center, you can be completely omnichannel, allowing you to connect with your customers on whichever channel they prefer. New contact center technologies will enable you to easily adapt your conversations while advanced analytics will help you better understand and anticipate a customer’s intent during each stage of their journey. That way you can create more personalized relationships with your customers as their needs and desires are met.
Engagement ROI: A fully engaged customer represents a 50% share of wallet.
Increased revenue and upsell opportunities.
With the right technology in place, you can improve lead routing, create a context-rich understanding of the customer, and enable sales teams to pick up where the conversation left off so they can focus on what they’re best at—selling. And if it’s a returning customer, you’ll start the conversation already knowing what they’ve purchased, when they’ve last interacted with your business and the best way to move them through the sales funnel.
Engagement ROI: Returning customers spend 67% more than new customers.
Streamlined operations and efficiencies.
With a modern platform for customer engagement—one that provides an AI-driven dashboard view of the customer—agents can easily pivot across channels to conveniently connect with their customers in whichever method makes the most sense them, and carry on a conversation with ease.
Engagement ROI: Over half of an agent’s time is spent searching for customer information stored in multiple locations
Ability to adapt and grow exponentially.
By moving your communications infrastructure to the cloud, you can convert capital expenditures related to hardware to operations expenditures. Leveraging the cloud, allows you to prototype, build, deploy, and rapidly iterate new communication solutions with little or no impact on your operating budget. Plus, with the right cloud communications platform, you get the benefit of a secure, compliant global infrastructure and carrier network without the burden of maintaining those complex services yourself.
Engagement ROI: Average cost savings of $1.1M by discontinuing legacy communications platforms.
Digital Transformation in Action: Simply Business
Simply Business, a Traveler’s Insurance company, transformed their contact center by re-engineering the way they interact with their customers. By combining omnichannel communications and customer data analytics with the vastness of Twilio’s global network, Simply Business has been able to measure, respond, and adapt to every step of the customer journey. Results include: - A 15% increase in call handling rate. - A five-point increase in Net Promoter Score (NPS). - A dramatic decrease in wait times. - A 9% uplift in inbound sales conversion. - A 17% increase in outbound contact rate.
“Twilio helps us optimize the workflow of our consultants so they can concentrate on having a phenomenal conversation and solving our customers’ problems, rather than thinking about the technology.” Lukas Oberhuber, CTO, SimplyBusiness
Attributes Needed for Modern Customer Engagement
As you look to modernize your contact center, it’s imperative that you design a customer engagement strategy around your customer’s journey. Don't settle for a solution that won't enable you with full customization capabilities. A customizable contact center offers the following benefits to your business:
Align and empower your staff.
For successful alignment across the organization, simplification is key. You deserve a cloud communications platform that provides every employee interacting with your customer with the right tools and the right information, all at the right time. Enable employees with easy-to-use interaction tools such as drag-and-drop visual builders to customize messages, route leads, and design interfaces to proactively support the customer journey. Your developers will appreciate straightforward communication APIs that allow for ease of integration and make it simple to add new channels as your customers adopt them. Also, because different department in your business may be working with customers through your new contact center, be sure to look for one with a simple and intuitive with which to engage.
Create a unified and shared view of the customer.
Make it your mission to develop one single source of truth about your customers. Employees interacting with them should have no questions about who the customer is, what they’ve purchased and when, and what has been discussed during previous interactions. With this information, your employees can personalize conversations, reinforce marketing messages, close sales based on qualified interest, and know how best to respond to your customer’s real-time requirements.
Drive proactive customer engagement channels.
Once you know what makes your customer tick, you can then refine messaging across all channels and touchpoints. Understanding where your customer is in their journey lets you engage with them on their terms, proactively present offers tailored just for them, contact them about delivery, and send timely reminders anticipating their needs. As mentioned above, be sure all agents have a central dashboard that lets them connect with the customer regardless of the channel being used.
Lead with intelligent communications.
With so many channels and multiple touchpoints, it’s common to lose track of individual communications. Thankfully, innovations in artificial intelligence are being deployed to deliver context to every conversation. With advanced analytics and machine learning gathering, deciphering, and sharing customer intent in real-time, both virtual and human agents can better anticipate customer needs and have engagements that will lead to mutually beneficial outcomes. These technologies are multi-faceted and evolving fast, so be sure to design with this in mind.
Design for flexibility and scale.
Think agility, speed, and innovation. Whether you choose to layer cloud-based communication software on top of your existing system or decide to re-engineer your platform completely, the cloud will provide a cost-effective and scalable approach. To keep up with customer demand, choose a provider that you can entrust your data to. Look for one with a reliable global carrier network that is completely secure and complies with changing regulations. Most importantly, choose a provider you feel you can rely on to continually innovate so that you can instead focus on the individual engagements and overall experience of your customers.
Experience Bottom-line Savings With the Right Cloud Communications Partner
Customer engagement is the lifeline of an enterprise’s organizational strategy. It has been proven to increase customer loyalty, improve employee productivity, and have a positive impact on the bottom line. It all starts with partnering with a contact center provider who helps you meet your customer's ever-changing expectations by being agile, innovative, and proactive—a partner whose offering is known to a notable and positive impact to their client’s ROI.
According to a 2018 Forrester Total Economic Impact study of enterprise companies that have turned to Twilio to power their digital transformation, benefits have included significant costs savings, increased conversions, and improved developer and agent productivity. Forrester concluded that the three-year financial impact of switching to Twilio brings customers $12.6 million in benefits versus costs of $3.3 million, resulting in a net present value (NPV) of $9.2 million and an ROI of 277%.
Looking to reap the rewards of excellent customer engagement? There’s no need to wait. Twilio Flex, our first-of-its-kind programmable contact center platform, allows you to develop, customize, and manage your customer communications, quickly and easily. Built on Twilio’s global infrastructure, Flex delivers what you need to run an enterprise contact center right out of the box, and is completely customizable so you can design the exact experience you need.
Dive deeper by reading the rest of this three-part series:
- Part 1: Transform Your Contact Center, Accelerate Engagement
- Part 2: Automate the Customer Engagement Lifecycle
- E-book: The Complete Customer Engagement Handbook