Benefits of an IVR System
Most of you must be familiar with the Interactive Voice Response or the IVR, because when you hear this lovely voice on the phone telling you to “press 1” for this and “press 2” for that it is the IVR. The IVR system performs various functions like identification, segmentation, and routing. It transfers your call to the available support agent or the most relevant product or service information option.
Despite it being labeled as annoying and taking the human factor out of customer service, the IVR system has many benefits. Here is a list of some benefits of IVR system, and some reasons why you should have one.
- Increase first time call retention
IVR systems build up categories and transfer the customers’ call to the most appropriate support agent to provide the best help possible. It is evident if the agent is taking too much time to answer the question, the customer will lose interest. It happens because the customer care agent wasn’t qualified enough to answer that particular query. Had the call been transferred to the person who knew something about the specific issue, the call wouldn’t have been dropped by the customer.
- Provide freedom to customers
IVR system saves the callers from unlimited strings of call transfers and enables them to decide for themselves what they want. You may have heard the notion that the customer is always right, and same is the case with customers who want to direct themselves as soon as possible to the live agent. According to a survey, 75% of the respondents said that the self-service is the most appropriate and convenient way to address the customer issues.
- Increase organizational efficiency
If the IVR system directs the call to the live agent, it is certain that the customer care representative will be qualified enough to answer that particular question. It will improve the efficiency of the agent, and hence the overall ability of the company will also increase. Apart from efficiency, the IVR systems also allow you to track certain metrics to ensure that the productivity is properly managed. The IVR systems also record call abandonment rates, hold times and customer satisfaction score, etc. By getting all this information, you can work individually on the targeted areas making the efficiency of your company much higher than it previously was.
- Reduce operational costs
Time is money, and if you are using manpower, it is obvious you will be paying a significant amount of money to people. On the other hand, if you use an IVR system, the amount of workforce will reduce, and you will have to pay much less to support your customers. According to one research, it can cost between $6 to $12 to a company to hire a human for chat interaction. On the other hand, if you are using an IVR system, it will cost you 25 cents per interaction.
- Make your company seem bigger
By installing IVR systems, you can greet your clients more professionally. Even if you have a small business, you send a message that you can afford IVR, presenting the company as a solid enterprise.
Many companies still don’t recognize the importance of the IVR system, and the argument whether to have one or opt for a live line continues. According to research by JD Power & Associates, the IVR is present only in 27% of the total call experience.