Wednesday, April 2, 2014

A Global Stock Transfer Company Reaches Huge ROI With Virtual Agents

A few weeks ago noHold posted a blog about The Most Commonly Used and Most Effective Virtual Agent Solutions. We talked about the monthly value card of a leader in the PC industry and the metrics they report on. To clarify, Virtual Agents automatically capture actionable customer intelligence based on each interaction, and powerful administrative tools allow your company to create customer reports on the usage of the Virtual Agent based on organizational needs. The monthly value cards are an additional resource provided by our Professional Services team here at noHold, containing helpful recommendations, best practices, and a snapshot of monthly metrics.

At the top is a screenshot of the monthly value card for the experts in high integrity data management and stakeholder engagement. The metrics above are for one Virtual Agent for a specific business unit within the company. In their value card, noHold shares the ‘number of interactions’ or the number of completed conversations had with the Virtual Agent (per month). Also, one of the most important metrics to pay attention to is ‘weighted effectiveness.’ This represents the percentage of people who have said the solution they found via the Virtual Agent was very helpful. This number is important because it allows your company to get some feedback straight from their customers. In addition, the ROI snapshot includes 'break even' - this particular client achieves 'break even' with only 1% effectiveness; that means that the Virtual Agent already paid for itself with 1% helpfulness votes. Therefore, the percentage of ROI is in the thousands. 

Besides having a huge ROI, additional benefits from the Virtual Agent include:
  1. Reduced service cancellation
  2. Improved customer satisfaction
  3. Real-time feedback loop to product marketing
  4. First contact resolution
  5. Reduced call time
Kudos to this company for positioning their Virtual Agent successfully and utilizing all its advantages. Cheers!