Customer retention is the most important aspect of doing business. It helps you realize your company’s profitability and improve customer service, market share, and revenue. However, retaining customers can be one of the most challenging aspects of running a company. Studies show that only 30% of companies retain more than 50% of their customers after two years! The good news? There are ways to improve this ratio – including call coaching.
What is call coaching?
Call coaching is a method of improving customer service through training. It’s used by large and small companies to help employees improve their performance on the phone and provide better customer service.
Call coaching helps you retain more customers by teaching your agents how to deliver great customer support every time they talk with someone who needs help from your contact center.
What can call coaching do to help improve customer retention?
Call coaching helps improve customer retention by:
- Improving the customer experience. If customers have a great experience with your company, they will likely remain loyal and buy from you again.
- Improving customer satisfaction. Nothing is better for business than happy customers! The happier a customer is, the more likely they will buy from you again in the future or refer others to do so!
- Improving customer loyalty. Customers becoming loyal to your company and brand will be less likely to switch brands when shopping online or elsewhere because they like how much value they receive from purchasing products through your website/company instead of somewhere else (e.g., Amazon). This leads directly into improving your bottom line.
What are the challenges of traditional call coaching?
Traditional call coaching, however, has its limitations. One-to-one call coaching can be difficult to scale, especially when you want to ensure every customer gets the same level of service and support. The cost of hiring full-time employees for this purpose alone is not feasible for most businesses either.
What’s more, the long-term effects of one-to-one call coaching are difficult to measure. It’s hard for companies to know if the objectives set by their employees during call coaching sessions are helping them to meet their KPIs. Over time, this can lead to a lack of motivation in your customer service reps.
Why is AI-powered call coaching better for customer retention?
AI-powered call coaching is better than traditional call coaching in several ways. The first and most important reason is that AI-powered call coaching is more effective at helping your customers, allowing you to retain more of them and make them happier.
- It’s easier to use AI-powered call coaching because it’s scalable, flexible, and cost-effective. It ensures that every employee can monitor each contact, giving you a better understanding of what works best to keep customers happy.
- Traditional software gives you less control over how your employees handle customer calls. You can only tell them what needs to be done but not how to do it directly because there’s no way to monitor their performance or provide feedback when needed.
Contact centers using AI-powered call coaching will boost customer retention, reduce turnover, and create happier customers.
Inbound contact centers have seen a rise in calls from customers who are already unhappy with their service experience. This is why it’s important for contact centers to keep their customers happy and retain them as long as possible. Call coaching is one of the most effective ways to do this! But sometimes, traditional contact center management software just won’t cut it when it comes to improving customer satisfaction and retention rates—especially because most of these tools are outdated, expensive, or both!
Call coaching can be a powerful tool for improving retention rates, reducing turnover, and creating happier customers.
But the key is to use AI-powered call coaching built on top of a robust AI platform with the right expertise and tools. This way, you’ll get the most out of your investment in call coaching while avoiding costly mistakes.
This blog post was first published on the Omnicus blog.