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Web Chat Case Study

Proving benefits realisation & carrying out BAU activity to monitor ongoing performance via Management Information
by

Devereaux Harry-Barnwell

on 1 November 2012

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Transcript of Web Chat Case Study

KPI Data Sources Key Performance Indicators Benefits Realisation
& Optimisation Business Process/ Operations MI/ BA
Compliance (Security/Legal)
Customer Service
IT
Lines of Business
Marketing
Web Optimisation (CRM/ UX) Web Chat - Case Study Using Management Information to optimise & increase Web Chat value Proving Benefits Realisation &
Monitoring Ongoing Performance Who Requires the MI Analysing the usage of the data correlated with customer satisfaction to help with usability.

Identify places of engagement for path/journey of the customer. Know where to implement the chat request on the page.

Assess Web Chat metrics to understand users behaviour and implement positive changes.

Looking at chat history and cross reference lead via chat against database to validate them.

Post chat surveys gives an indication of benefits via visitor scoring.

Cross referencing Web analytics & Web chat MI will identify opportunities for assisted revenue conversions

Conversation can be recorded for later analysis which gives insights into how to build better customer banking relationship. Of all the times Web Chat was offered (initiated by adviser), how often was it accepted?
And how many made it to at least 2 interactions during the chat?
Did chat have a positive impact on web conversions?
How often does web chat lead to offline conversions?
What pages were visitors on when they decided to chat?
How "engaged" were visitors at the time they started to chat (Were they interacting with the website enough)?
Do long chats lead to higher conversion than short chats?
Do we have logged in ID's for those chatting such that we can pass chat metrics to CRM? Strengths &Weaknesses Key Business Stakeholders Key Business Stakeholders KBS Individual Objectives Improve customer service efficiency
Improve customer service quality
Increase the Accuracy & Balance of Support Responses
Improve Visibility, Trust and Regulatory Compliance /Reduction in Complaints Compliance (Security/Legal) KBS Individual Objectives Reduce Customer Touch points,
Improve customer service efficiency(Improved Resolution Rate of Customer Service Issues & therefore, Improve Levels of Customer Service)
Improve customer service quality
Expand customer service channels
Reduction in Cost:(Associated with Call Centre & Branch Operations)
Increased Revenue:
Reduced Support:
Improved Visibility, Trust and Regulatory Compliance /Reduction in Complaints: Business Process/ Operations MI/ BA
Compliance (Security/Legal)
Customer Service
IT
Lines of Business
Marketing
Web Optimisation (CRM/ UX) Reduce Customer Touch points
Improve customer service efficiency
Improve customer service quality
Expand customer service channels
Reduction in Cost (Associated with Call Centre & Branch Operations)
Increase the Accuracy & Balance of Support Responses
Improve Visibility, Trust and Regulatory Compliance /Reduction in Complaints: Customer Service Increase the Accuracy & Balance of Support Responses IT Reduce Customer Touch points
Improve customer service efficiency
Improve customer service quality
Expand customer service channels
Increase Revenue Lines of Business (Accounts, Insurance etc.) Reduce Customer Touch points
Improve customer service efficiency
Improve customer service quality
Expand customer service channels
Increase Revenue
Improve Visibility, Trust and Regulatory Compliance /Reduction in Complaints Marketing Reduce Customer Touch points
Improve customer service efficiency
Improve customer service quality
Expand customer service channels
Reduction in Cost (Associated with Call Centre & Branch Operations)
Increase the Accuracy & Balance of Support Responses Web Optimisation (CRM/UX) Reduce Customer Touch points
Improve customer service efficiency
Improve customer service quality
Expand customer service channels
Reduction in Cost (Associated with Call Centre & Branch Operations)
Increase the Accuracy & Balance of Support Responses
Improve Visibility, Trust and Regulatory Compliance /Reduction in Complaints Business Process/ Operations MI/ BA Questions to Solicit Optimisation
& Access Benefits of Web Chat Benefits Realisation & Optimisation using MI /Web Analytics Reduce Customer Touch Points KPIs Number of times customer contact the bank (branch).
Average cost per customer contact
Assisted Conversions
Usage by New and Existing Customer
Signup rate (unique customers –segmented by Geography- customer segment, sales channels etc.)
Usage rate (visits/hits per day/week/month/etc. - segmented by Geography- customer segment, sales channels etc.)
Sales generation rate
Number of Links to Conversion Improve Customer Service Number of customers served per hour
Average issue resolution time
Numbers of customer service issues resolved per adviser per day
Number of outstanding customer service issues
Success rate of engagement Reduction in Cost Internal measure of how many time customer contact the bank.
Average cost per customer contact – which should go down
Assisted Conversions
Usage by New and Existing Customer
Signup rate (unique customers –segmented by Geography- customer segment, sales channels etc)
Usage rate (visits/hits per day/week/month/etc - segmented by Geography- customer segment, sales channels etc)
Sales generation rate Expand Customer Service Channel Number of customers served
Number of up-sales as a result of chat request
Cross-sell and upsell revenue
Average value per customer (i.e. The average amount of revenue from each customer)
Average number of products sold per customer
Customer retention rate
Overall revenue
Overall OPEX (operational expenditure) –channels where chat supplies supplementary service to. Improve Customer Service Quality Click to Chat (CTA)
Top Click locations
Customer satisfaction scores (Customer satisfaction depends on satisfying 3 questions. What do the customers want? What’s hindering their progress? What would it take to resolve it?
Detail Customer Satisfaction
Custom complaint to customer resolution ratio
Number of complaints – should go down
Time on chat
Visitor Loyalty Improve Visitbility, Trust & Regulatory Compliance Number of Complaints via Call, Post/ Email
Customer retention
Number of Abandon Chats Sessions
Customer satisfaction scores
Detail Customer Satisfaction
Visitor Loyalty Increase the Accuracy & Balance of Support Responses Availability (stability)
% errors,
% drop out,
Number of technical customer issues resolved
Time to resolve of technical customer Increase Revenue Number incremental sales;
Number of cross sales;
Number Up-sales
Sales generation rate
Days to Conversion KPIs KPIs KPIs KPIs KPIs KPIs KPIs Seasonality – People spend less, complain less/more at different times of the year, so this could impact/obscure results

Lack of Benchmark Data – to properly measure benefits realised a business needs reliable and trusted benchmark data, i.e., what were last year’s figures for these KPIs to measure against, without this measuring benefit it is very difficult to prove true benefits of Web chat.

Web Analytics data can be access and relevant reports can be generated for certain KPIs on the NBS website to cross reference pre and post implementation of the Web Chat project.

Other variables –A big TV Ad campaign, for example,may naturally force up cross-sales – it might look like web chat did it but actually it was another factor. It will help with Assisted conversion.

For other channels, if the data was captured in a database then the relevant information from DB can be pulled for comparison/ cross referencing.
Offline: TV Ads, Branch, Call Centres
Online: Digital Ads, Social Media, Product /Service Pages -web analytics data Determine how to reach out to visitors whose behaviour indicates inclination to complete an application engage by a specialist adviser in that area. By integrating Web Chat feed/ MI along with other web analytics metrics it will provide customer insights into resolving Complaints, sales leads, suggestions for process improvement etc. Benefits Realisation & Optimisation using MI /Web Analytics By looking at average bounce time pre and post implementation.

Comparison pre and post usage of other site tools like search or FAQs. Why Implement Web Chat? Web Chat influences decision making: Visitors with question but not ready to act
Those looking to switch financial situation
Tech Savvy people setting up 1st account Web Chat will allow for NBS to meet the customer at their need Web Chat gives the customer sort after options:
They don’t have to wait on the phone
They don’t have to wait for an email
They don’t have to research
They don’t have to drive
They can do other things while chatting
They can ask a human being a question and not a robot
They can end the conversation when they need to
Data Channels Strengths & Weaknesses In order to assess how Web chat helps improve conversion , generate more sales etc. according to KPIs, there needs to be data (benchmark and on-going) from channels (touch points) readily available compare and validate against those from the Web Chat metric /Management .
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