Experian is a leading global information services company providing consumer information, credit services, decision analytics and marketing services to customers. The Nottingham based contact centre deals with customer enquiries handling around 200,000 calls per month across 270 agents. Here we delve deeper into how speech analytics helped Experian achieve their retention goal.
A high proportion of calls relate to the CreditExpert product, an online monthly subscription service which helps customers manage their credit report and score and also offers identity and fraud protection. The contact centre strategy is to provide best possible service which in turn directly correlates to customer retention, and this is all important. Therefore, understanding why customers initially signed up for the service and making sure these benefits are provided through their membership package delivers enormous value to the company.
Prior to implementing speech analytics, business insight was derived from the telephony and IVR systems as well as anecdotal information shared by agents. It was evident to Experian that better technology could deliver these results faster and more effectively.
Chris Barkataki, Strategy Manager at Experian comments: “When we first started looking at Speech Analytics our retentions goal was the obvious choice for achieving a return on investment but interestingly the proof of concept uncovered other quick wins such as addressing non-talk time on calls. It made sense for us to implement analytics immediately so that better decisions could be made based on what our customers and employees were saying.’Working closely with Business Systems and through a Proof of Concept, Nexidia Speech Analytics was identified as the appropriate solution.
Integral to the implementation was ensuring the technology was correctly embedded into the culture of the organisation. According to Lee Hancock, Operations Analyst at Experian “The mentoring programme delivered by Business Systems was really beneficial, providing onsite support on a regular basis and it was great to have someone who knew the system that we could bounce ideas off. The provision of an analytical framework was also useful in terms of getting our people to really understand how they approach a problem, think through it and drive positive change.”