This months Expert Speak comes from Karen Jackson, MD, CPM UK.
At CPM UK, we’re leading the way in sales analytics by combining cutting edge analytics software, machine learning, artificial intelligence and our team of amazing data scientists to deploy the power of predictive analytics through our PREDICT solution.
Even today’s fastest retail analytics teams are gathering data today, analysing it overnight, to drive actions and resource deployment the following day – and they call this dynamic.
We believe that however fast this is – your teams are still being forced to react to historical data… and if you are reacting, you’re missing valuable opportunities and not running a fully optimised team. To be truly optimised and drive the highest returns possible, you need to predict the future. Predictive analytics is nothing new, but with the data that’s now available and the technology that can support in analysing that data – we now have the perfect opportunity to use predictive analytics to drive optimal resource deployment for our clients.
Machine learning is a form of AI that enables our systems to learn from data rather than through explicit programming. However, machine learning is not a fully artificial intelligence-controlled process. Our human experts set the outcome required to solve a business problem and the machine then analyses all variables to create the best hypothesis (and algorithm), and as new data is added the system learns and increases accuracy.
For example, consider what drives sales in stores (outcome), machine learning will look at all variables including consumer density, stock availability and sales data to create a predicted algorithm. As more data is added over time the algorithm adapts and increases in accuracy.
Put simply Artificial Intelligence (AI) is the ability of a machine to simulate human behaviour without
the need for human input. This differs from machine learning by not requiring a human to intervene once set up. The machine thinks like a human by setting the business problem, building the machine learning models and then rolling them out.
This means that AI becomes your ‘analyst’, learning from data and making recommendations that can help to improve activity to grow your sales
With our considerable investment in PREDICT we can now help brands, retailers and any business harness the vast amount of Big Data to hand to create true insight in the form of predictive analytics. If you imagine a world where you can accurately predict when and where your next biggest opportunity (or risk) is going to occur and then deploy the right resource, be it human, digital or phygital to optimise that opportunity, in the most efficient way, then you have imagined CPM’s new predictive analytics and liquid workforce solution. This ground-breaking solution will transform how businesses profitably sell, now and into the future.
Predict is now live and several of our customers are already benefiting from a considerable sales uplift through our integration of Predict with our field sales CRM and analytics solutions we that we have deployed for them today.
To read more about how predictive analytics can drive higher returns, click here
Creating Synergy to Achieve Sales Growth
This month’s Expert Speak comes from Pierpaolo Bertocco, MD, CPM Italy
The outsourcing of the sales force is more relevant than ever. This sales approach is gaining ground amongst both medium-sized local companies and multi-nationals because of the constant need for cost containment and the need to update their internal organisation with more flexible goals and better performing models in the medium term.
But the question “What can be done with an outsourced sales force?” is still key for each organisation which is facing this sales approach. CPM can offer a simple but strongly effective answer: “Exactly the same as you do with an in-house field force, but with a better control on goals, focus and ROI.” Essentially, outsourcing the sales force means we define, manage and monitor a direct relationship between costs and results. But if we want to go more in depth, the competitive advantage of the CPM sales outsourcing approach can be summarised in three key pillars. First, the greater focus on sales goals and results. Second, the possibility of creating a strategic mix of human resources engaged directly and those outsourced, thereby ensuring greater flexibility in the size of the sales force and consequently an optimised return on investment. And lastly, an unquestionable advantage in terms of costs and results, plus greater flexibility in the management of the budget.
In this article we would like to feature a sterling example of how a strategic sales plan based on the synergic co-work of field force and telesales resource can lead to a sustainable sales growth.
When DKV, the European provider of a wide range of services aimed to help transportation and fleet companies, felt the need to activate new customers and promote new services within small & medium businesses in the Italian market, they made contact with us here at CPM Italy.
After setting sales targets, we defined a dedicated field specialists team, focused on improving DKV Fuel Card sales through phone contacts and appointments with fleet managers. The results achieved in terms of sales growth and ROI convinced DKV of CPM’s outsourced field sales force solution. Thus, we were appointed for an even more challenging project which aimed to deliver a brand-new sales approach based on a synergic team working between a focused telesales team and a strongly skilled field sales force team.
The final outcome of the roles became the opposite: the telesales team supporting the field sales force team in closing the deal meanwhile autonomously appointing new clients, speeding up the process and doubling the new clients acquired.
The result? A huge increase of the number of clients and turnover – with over 35% success rate and 30%+ turnover year on year –, over 66 million euro of annual contracts in less than 5 years and a minimum small drop-out rate which confirm the quality of the clients acquired.
Marco Berardelli, Country General Manager, DKV EURO SERVICE Italia, talking about this encomp
assed sales service project stated: “Outsourcing a part of the sales force was a weighted and innovative decision. We have focused on the prospecting activity and we have achieved in a short time, after a first phase of learning of our Services by the new outsourcing sales agency, a considerable increase in contracts signed through a strong motivational drive, high productivity and flexibility of resources and a convinced result orientation. But that’s not all, what most surprised us was the highly professional and proactive attitude of our outsourced sales partner in proposing new innovative sales solutions and communication methods, in order to multiply, with success and in perfect synergy, our sales potential!”
Contact us today for more information
Detail, enabling brand manager to track product ratings online – It’s a popularity contest
Consumer rating is a crucial selling point for brand managers and retailers alike. Faced with two equal products, a consumer will likely go for the one with the best rating. At the highest rated store. So how does one achieve a 5-star consumer rating? And how can brand managers keep track of their products ratings? Our online merchandising tool Detail can help, and this article will tell you how.
Put your money where your stars are
Consumer ratings can be used to evaluate a specific product, a retailer or a customer service desk. For a brand manager this can give valuable insights in to how and where to put one’s effort and marketing budget. Say for example that the same product receives different ratings at different retailer websites. Why is that? Is the product marketed differently at the different websites? How does the retailer websites differ from each other? Is it a customer service issue? Detail helps brand managers and product owners to keep track of ratings over time, and at different retailers, in order to effectively boost a brand or product.
Benchmark against competitors
For brand managers and retailers alike, a rating-system is a great way to benchmark against other products and retailers. It gives an instant evaluation of how well you are performing in this very moment. Are the product specifications up to date? You can be sure you’ll find out if they are not. Is the website easy to navigate, can the consumers find the products they are looking for? Expect low consumer ratings if they can’t. Consumer rating is a tool for feedback and evaluation, make sure to use it. Don’t despair over a bad rating; make sure to learn from it in order to get better. Because that is the secret of reaching a 5-star rating – the ability to listen and respond.
How to reach 5-stars
The headline is misleading, there are no secret tricks to getting an instant 5-star rating. That is also why it is so valuable, consumers know that if a store or product has enough ratings, it will be somewhat accurate. But there are steps that you can take in order to increase your chances of hitting the review jackpot. As an online channel manager, you can make sure that your products are visible, searchable and properly listed – in that way making the consumer experience a pleasant one. In a physical store it’s easy to check that your products are correctly displayed, but online it has been harder. Until now, thanks to Detail Online. Detail helps to collect information to evaluate your online presence and product description pages, making it easier to identify improvements in the shopping experience (which leads to better consumer ratings).
An ongoing process
Like concluded above, the only way to become and stay a 5-star retailer is to listen to the consumers. To make continuous improvements and to be consistent in everything that you do. And to put emphasis on proper product display and a smooth shopping experience.
Make sure that your brand and product is visible, has a good share of shelf and is kept in stock. Focus on the details. And reach for the stars.
Good luck with your sales!
Contact us today for more information
Outsourced Field Sales Team – What happens at night….
This month’s Expert Speak comes from Bastiaan van Houten, MD, CPM Netherlands. In 2001 Bastiaan started his CPM career with a field sales job at Diageo and in 2004 moved into CPM’s Dutch head office for a role in direct sales. After various roles and positions Bastiaan started Cosine Benelux in 2011 and merged this business in 2015 with CPM Netherlands.
In this article we would like to showcase a new solution for our logistic process and the path we followed to get there. We all know the challenges in our Industry, clients asking us to improve ROI by driving efficiency whilst on the other side we experience increasing prices and a tight labour market. Let’s take you to the situation that triggered this new business innovation.
Imagine yourself; a client with an outsourced field sales team, the sales representatives are working on a maximum workload (#locations and #tasks per store). The client wants to expand the number of locations, without budget for extra resources. They ask CPM for a solution. We all know these challenges, drive efficiency and improve ROI.
On the other side the project manager has the same challenge. The labour market is tight, suppliers are raising their prices on a yearly base and we’ve already implemented several efficiency plans with this client. Expanding stores means expanding the team or downsizing the tasks.
CPM organised a brainstorm and investigation session and it became clear: the big bottleneck in the efficiency was the time the team spent driving to the storage location and then to the first appointment. We knew if there was a way we could do things differently we could create more time in-store, which would result in achieving an increase in ROI.
Now that we had identified the bottleneck we were close to the solution. How can we improve? What is not used yet…..? Exactly, the night! Yes, we can do an overnight car delivery and forget about our traditional storage! Whilst the team sleeps we can get all materials delivered to their cars, so when they wake up they can go straight to their first address, eureka!
But would this be cost efficient? We put all the elements in a calculation module. The cost for cost calculation ended up equal, but we were able to increase in-store coverage by 6% to 8%. By switching to overnight car delivery we found a cost and time efficient solution. We managed to expand the stores, using the same quantity of people and tasks, without raising the costs. Case Closed!
Overnight car delivery
How it works: The driver picks up the materials at a dropping point. The cars are equipped with a high tech GPS system that allocates the cars they need to supply and directly calculates the most efficient route. The car boot can be opened with a smart lock, which locks again automatically. Returns can be picked up by the driver at the same time. A flexible solution, that’s scalable when needed.
At this moment we’re rolling this out with our first client and expect many to follow. Overnight delivery is a cost effective solution for areas with a high density and raising salaries, small countries with many inhabitants or the bigger urban area’s in low density countries.
As an outsourced sales agency we need to keep looking to the future and what the future is bringing us. The time we live in is very exciting; of course clients & employees are more and more demanding. However on the other side the world is changing so rapidly there are innovative solutions everywhere. Let’s explore them, find out how we can use and implement these new solutions in our daily business. Embrace new technologies and continuously be that innovative and flexible partner that looks one step ahead.
The Means Matter – Improving Sales
Our latest CPM Expert Speak comes from Mandeep Singh; MD & CEO, CPM India.
The process of closing a business at CPM India is akin to any other business pitching to win. Upon receiving the requirements, we prepare extensively by discerning the pain points of our prospective client, strategise masterfully the exact method of execution, and present stunningly to secure the client and win the business.
Moments of celebration later, a conventional business would begin the process of delivering on the promised key performance indicators and commence the execution of the won project. This is the output phase where a company gets lost in the daily grind of achieving the end results of increasing the share of shelves, improving sales numbers, etc.
A vacuum is created between these two phases which is what separates CPM India from the conventional business. We, at CPM India, believe that ‘the means matter’ and we put the same amount of efforts in this input phase as any other phase. How do we do that?
We do it through PERFORMICS which is nothing but performing retail execution by building better insights and capabilities for improving sales. We essentially integrated CPM’s brand essence to create a product that puts us on the retail intelligence map.
PERFORMICS is a tool-aided process to synergize the efforts of different silos and smooth the flow of information from the top to bottom and vice versa. It enables the client teams to plan activities such as merchandising activities, target tracking, and route planning through a customized web portal, the information from which directly flows to the android applications available with the field sales force which can use it to easily capture data and carry out the planned activities and also provide the client sales teams access to real time information. PERFORMICS includes compliance and analytics modules to audit the work and transform the available data into actionable retail insights. The whole process accelerates the performance and improves the sales manifold.
PERFORMICS has been a great enabler for us to look at the quality of inputs and focus on some data points to ensure that the end results are achieved. All in all,
PERFORMICS is a way to fill the void that existed in a client-agency relationship and has opened the doors for CPM India to venture into the retail intelligence space and make a huge impact. More importantly, PERFORMICS lets CPM India work more effectively for its existing clients to create insights that create the influence to drive sales.
The Key to Delivering a Successful Regional Sales Activity
Delivering Success Across the Region
Our latest CPM Expert Speak comes from Martin Ryan; Chief Development Officer at CPM Group of Companies Asia Pacific. Martin has worked for CPM for eighteen years and has over twenty five years industry experience. He has overseen numerous regional projects, experienced great success, but also some crushing disappointments.
Here’s his candid overview of how to deliver regional success based on personal hard lessons learned.
Delivering Regional Success
Winning regional business across a diverse geography is a special thrill. Within the space of a few hundred miles, languages, cultural norms, and currency can morph into something wholly different. Navigating across regions is always tricky and although better communication tools may have made distance seem smaller, the secret of successful regional sales activity lies in how we combine the efficiency of modern technology with other more human tools.
The Starting Line
Start by defining your team’s purpose. When CPM Singapore embarked on a regional project with a leading tech client we spent time completing a detailed analysis of their particular vision of success. What were the common threads applicable to all countries? What were the precise elements of measurement?
If possible, look for insight to those who are already delivering. A major factor in CPM Singapore winning a regional project with another tech giant was the time invested in understanding how the established Australian team delivered their strong track record of success. They were hugely generous in sharing their knowledge and we made substantial effort to join the dots so we could apply their established procedures across the region. This knowledge also gave us deep insight into the client’s culture and their expectations of an outsourced field sales agency. I believe this was a significant differentiator between CPM and our competitors, and a critical part of our successful bid.
You Need a Detailed Contract
Once the team’s purpose is clearly defined, time must be taken to draw up a robust contract. Of course, it’s always hoped that everyone will play fair, but when crossing country boundaries it is crucial to state any legal liabilities, payment terms, and other obligations. Painstakingly outlining these clauses is something I learned the hard way. Relationships built on trust are important, but when other departments and countries get involved you need an unambiguous written agreement that balances transparency with what you may normally be take on trust.
You also need a clear process to manage billing and currency fluctuations. Having this in place in advance makes billing seamless and revenue easier to forecast. Outlining obligations when the contract ends is also important as different employment laws exist in different countries and you don’t want to be exposed to large redundancy payments.
This is also the time to set some ground rules for communication and response times, and all KPIs should be stated. Clearly outlining these before the activity starts will set realistic expectations and avoid mission creep.
Build Credibility by Building Key Relationships
A regional team must ooze credibility and to do this they must be capable. Some of the leadership attributes required include a good dose of self- confidence, the ability to think clearly and make decisions, being self- driven when remote, endowed with brilliant communication skills, technically astute, and not scared to present both to groups and in front of the camera. An underrated skill is the ability to communicate over the telephone, both one to one and in a conference call.
To make regional activity fly you also have to be a relationship ninja.
Start by knowing the client’s country by country structure. How does it differ? Who are the key people and what do they do? Have a clear understanding of which relationships to concentrate on and then put the time in to make them work.
Part of this includes an attitude of transparency and openness which can go beyond your working life. Trust people and give them access to your calendar, include details like holidays and children’s events at school. We live in a time when the boundaries between work and life are blurred and a regional role means you will be working outside of your own time zone’s conventional working day. This is the new norm so embrace it and make it part of your life. Inject a genuine and vigorous enthusiasm.
Once you have established this human connection and built key relationships at a local level you will know who to contact in each market, you will build respect, save time and avoid potential misdirection.
Make Your Field or Contact Centre Team the Most Important Aspect of the Activity
Your most important customers are the team delivering results. They’re the ones generating sales and smashing targets. They’re also spread over a large geography and making them feel part of a unified, emotionally connected team is a critical priority. Involve them, talk to them face to face whenever possible and painstakingly understand their needs and frustrations. Take the time to really listen and make sure you paraphrase what they are saying to prove you have heard them.
A regional sales project requires a global vision to set the strategy, but management of it needs to be carried out regionally utilising a deep insight into local processes. It takes dogged determination and patience to unravel and understand each step of the data collection process and collation of reporting. Acquiring this knowledge ensures a strong foundation, and facilitates informed decision making. Applying this rigor along with an understanding of where existing CPM solutions can fill gaps means you can make informed and creative decisions on what to adopt, or if it almost works, what to adapt, and only as a last resort do you revert to reinvention.
Grow Your Capabilities and be Innovative
Regional sales activity is not rigid; it is an iterative process that requires a solution that’s nimble and responsive. Knowing how to leverage existing solutions and apply the best of what is available locally is a fine balance, as giving teams too much freedom can compromise results. You need to know what’s non-negotiable and apply a rigorous application of continuous improvement. When you spend time understanding how people work you will know when it’s time to use the carrot, and when use of the stick is more appropriate.
To summarise, here’s what I’ve learned about running a successful regional sales activity. Start by really knowing your purpose, both regionally and in each country. Once you have clearly defined your objectives, assemble the reporting structure around them. Adopt processes that work elsewhere in your business, adapt them to give local relevance, and only reinvent as a last resort. Make sure you have a detailed contract and include clauses that define liabilities.
Build key relationships. Success stems from open human trust. When possible be available across the region’s working day but also let people know when you are not available. Embed yourself into your client’s organisation and become indispensable without being arrogant.
Build credible and capable teams, culturally adaptable and results focused. Understand and connect with your sales team. Make sure they feel you are involving them and understand their needs and frustrations. Grow your capabilities. Solutions are iterative and constantly evolving. Be energetic and responsive and don’t become complacent.
Branching out from the local to the regional can be bewildering and at times maddeningly frustrating, but it can also be richly rewarding and joyous, transforming your understanding of both yourself and the hyper connected global world we inhabit. Fully embracing a deep knowledge of your client and becoming a trusted indispensable regional partner is one of the best things in our business.
Welcome to our latest edition of Expert Speak, ”How about we tell you how much we can accelerate your sales?” which comes from Véronique Motte, President CPM Group of Companies in France
How about we tell you how much we can accelerate your sales?
A few weeks ago, our teams organised a conference during the 2018 edition of the MPV trade show which took place in Paris. The title of this conference was “The 4 drivers which really influence sales demos performance”. CPM France teamed up with L’Oréal France to present real-life feedback from this innovative approach.
True fact: sales demonstrations are a sell-out driver for brands
Deployed on a large scale over 40 years ago, at the same time as mass-market retailing, demonstration days are one of the most popular marketing drivers for brands and also one of the most outsourced. Interestingly, according to a study done by EY in France, it is also one of the most preserved media spends:
For a long time in France, sales demonstrations were a sell-in incentive. Nowadays, being a media in its own right, it is therefore central to the concerns of marketing and sales departments.
Measuring sales demonstrations performance: an innovation on the market
Using sales data provided by L’Oréal and a mathematical equation defined by CPM France’s Business Intelligence team, we were able to build a robust statistical model based on linear regression. That’s how the ROI-focused approach for L’Oréal Consumer Products Division came into life.
We found out that in order to achieve a specific ROI, four drivers that can influence performance must be taken into account: the product display, the store environment, the promotion and the ambassadors themselves. This proved that when all the right drivers are aligned, the sales demonstrations performance can be accelerated by over 300%.
Reaching new heights…
I cannot express how proud I am of the teams at CPM who have made this possible. We are reaching a brand new level: we were famous for the quality of the field work execution we provided, which has never and will never be easy, but the right people with the right tools help… we are now able to measure for our clients the performance of the activities they outsource with us.
In other words: at CPM, we make demonstration days work. Oh, and by the way we also measure the performance of our other solutions too…
President CPM Group of Companies in France
Leadership #IWD2018 by Lorraine Butler
International Women’s Day creates time in our busy lives, for awareness and reflection on women’s efforts and achievements. It reminds us to stop and reflect on the progress women have made, our contribution & our successes. In turn, it reminds us to continue our future strides to create future success both individually and collectively.
Personally, I have very seldom been comprised in my career because of my gender. That is not to say that I have not seen others (of both genders) who have been less fortunate. I have always taken the approach of the ‘best person for a role’. However as I have matured through business and life, I see that personal circumstances have to be considered and accommodated in order to help the best person be the best they can be. My management team live by this philosophy and I ask that we seek out leaders in all layers of our business who will embrace this philosophy. This philosophy doesn’t happen by accident, it takes time to nurture, develop and appreciate.
The principles of leadership can be taught yes, but it takes a person with leadership inherent in their personality and DNA to truly & naturally lead & embrace leadership principles. I believe leadership can be improved upon and learned over time, even for those who don’t have a natural leadership tendencies. But in order to become an effective leader, one has to truly want to lead, for the right reasons and needs to believe in the cause – only then will you win trust of your people, which is an absolute requirement of effective leadership. And of course you have good and bad leadership; The concept of Shadow Of the Leader is something I have always embraced – being mindful of the shadow that your leaderships casts, considering others are likely to follow in the same steps.
People skills are critical to any leadership role in our organisation. Our greatest asset is our people and leaders at all levels need to continuously inspire and motivate our employees. Good empathy and intuition are important skills – and knowing when to dial up or down each. In order to lead teams, you have to build a good team around you, realising that often others on your team are better at certain things than you yourself are. A good leader will show the potential to embrace diversity within a team and take ownership of developing their people – where people grow, business grows.
My advice to women today at all stages of their careers – Anything is possible ! Whatever you want to achieve, it is achievable, but you are responsible for your own journey and destination. Surround yourself with good people. People you instinctively trust and can learn from. Regardless of whether you realise it or not – every day you are being interviewed! Do what is expected of you in your current role with excellence, but adopt practices and behaviours of the role you want next! Work to identify & secure a mentor who you respect and will learn from – but ensure to take heed of their advice –they haven’t achieved the success they have without learning a thing or too along the way – so listen, observe and action on their guidance, it will speed up your journey to success
Leading Merchandising as Something Bigger, by Andrew Potter, MD, CPM Australia
As a business who has been deploying merchandising services on behalf of national and multi-national clients for over 20 years, we’re always trying to challenge the status quo and ensure we are leading best practice. We are constantly re-evaluating, re-inventing and re-calibrating the ‘old’ processes and systems and asking ourselves “Is our merchandising model optimizing the best deployment of resources and costs – plus are we creating value for our clients?” These questions keep us in line with our mantra of helping our clients ‘sell more for less.’
Whether it be merchandising, direct sales or customer service, we’re continually rethinking the way an activity can be structured and managed so that it delivers value not only to our clients, but also to retailers and their customers.
One of the best examples of where we got to lead best practice and to trial merchandising as something ’bigger’ is the merchandising work that we’ve implemented and still manage for our national telecommunications client.
In 2016, our telecommunications client recognised that their current field merchandising structure was underperforming. Their ineffective call cycles and below-average compliance results were just a couple of signals that their field approach needed an overhaul. To increase market share in the highly competitive prepaid category, they appointed Retail Safari in Australia to help drive operational excellence and to assist in bridging the gap between their merchandisers and third-party retailers.
The key challenge was to build better retail conversations amid non-branded stores Australia-wide and to undertake this exercise, our first step was to reinvigorate the merchandising function by introducing a sales-led approach.
To ensure higher brand presence than their competitors, the newly formed sales merchandising team were tasked with both traditional and non-traditional merchandising responsibilities, with the main focus on ensuring their in-store influence maintained a positive halo effect post their store visit.
By reinvigorating the merchandising function with this sales-led approach, our client’s product has never been more prominent and as a result their service and sales numbers are at an all-time high. Their time and reach provides valuable engagement time that allows our people to: foster in-store relationships, ensure higher brand presence against their competitors and promote product benefits.
Since the inception of this program, we’ve been arming staff with the appropriate sales skills and value drivers. With this know-how, our field team continue to have meaningful sales conversations in-store with key stakeholders in the retail environment. These informed conversations stem from an insight-led approach where staff can access real-time insights and post-sale data which in turn results in driving orders and incremental in-store space, plus the ability to articulate the latest product features and benefits.
Andrew Potter, Managing Director, CPM & Retail Safari, Australia.
Welcome to our first edition of Leadership Team Blog articles for 2018, from CPM International Contact Centre, Barcelona ” Artificial Intelligence & Machine Learning: Demystified ” which comes from Emanuele Ceppelli, IT Director at CPM International Contact Centre.
Artificial intelligence (AI) is one of the most significant transformational break-throughs – and perhaps least understood – in modern times. In many ways, the charm of AI is that we don´t realize we are using it when we use Siri, Alexa, or when the phone automatically corrects your grammar.
In very good company with the more notorious innovations like the steam engine, electricity, and the combustion engine, AI is the most important general-purpose technology of our era. But, what is AI doing and how quickly is it improving? Two are the areas of progress that best support the AI journey to improvement: perception and cognition.
With regard to the “perception”, some of the most practical advances have been made in relation to speech. Voice recognition is still far from perfect, but millions of people are now using it — think Siri, Alexa, and Google Assistant as an example (by the way – this article was dictated to a computer and transcribed with sufficient accuracy).
These advances in voice recognition have evolved into the ability of a computer to recognize the human natural way of speaking. This ability is known as Natural Language Processing, or NLP. Rather than face limited touch-tone or rigid Directed Dialog, customers can now speak naturally to the device in use.
A study by the Stanford computer scientist James Landay and colleagues found that speech recognition is now about three times as fast, on average, as typing on a cell phone. The error rate, once 8.5%, has dropped to 4.9%. What’s striking is that this substantial improvement has come not over the past 10 years but just since the summer of 2016 (source: Stanford Education Research)
We are also assisting to a rapid improvement in the machine’s ability to recognize images.
An app running on your smartphone will recognize almost any bird in the wild. Image recognition is replacing ID cards and customers analytics, access control; public safety has also started counting massively on facial recognition.
In terms of “cognition” on the other hand, the improvements are going as fast as those around “perception”.
Machine learning (ML), is based on learning from examples rather than a rigid code telling the software what to do and at what time. This is an important break from previous practice.
In a world where DATA are produced at an astonishing rate and machines can learn from examples, we have served the perfect loop for constantly feeding AI engines with relevant information to exponentially grow the ML capability.
A system using IBM technology automates the claims process at an insurance company in Singapore, and a system from Lumidatum, a data science platform firm, offers timely advice to improve customer support. Dozens of companies are using ML to decide which trades to execute on Wall Street, and more and more credit decisions are made with its help. Amazon employs ML to optimize inventory and improve product recommendations to customers. Infinite Analytics developed one ML system to predict whether a user would click on a particular ad, improving online ad placement for a global consumer packaged goods company. JPMorgan Chase introduced a system for reviewing commercial loan contracts; work that used to take loan officers 360,000 hours can now be done in a few seconds. And supervised learning systems are now being used to diagnose skin cancer (source: JPMorgan, Bloomberg)
Let´s see how AI can help our Contact Centres to deliver a better service more efficiently.
Powered by ML and NLP, an Intelligent Front Door replaces and upgrades traditional IVR routing. It allows offering the ease of conversational communication, with Natural Language intent capture at the outset of every call.
An Intelligent Front Door can provide benefits in:
Customers are still calling and every year their expectations are higher than the previous year.
AI helps to offer a proactive and personalized experience from the start. With AI and the right data, customers are recognised and their needs anticipated.
More than half of the customers liaising with a Contact Centre wants to “self-serve”.
With an AI engine and the right DATA, it is possible to provide a personalised and efficient self-service to customers starting from a natural conversation. Many are the processes that can be automated thanks to AI.
By removing the initial contact steps thanks to an intelligent front door, Agents are talking only to the right customers and at the right moment, those that need them most. Customer experience success and failure often revolve around customers’ experiences with Agents.
Since routing and self-service can be automated for the repeatable tasks, Agents are likely to be more engaged. They have access to calls and the most updated customer data through CTI and/or screen pops; warm transfers become the norm thanks to AI and as most of the customers hate repeating information, the Agents do not have to make them.
In summary, AI is likely not a fake and the first to use it effectively will reap the most benefits. Whilst still in its infancy phase, the pace of innovation is exponential and the signs of progress will never be so slow again. Speech recognition has reduced the error rate by 50% only in the last 12 months. This means that in a blink of an eye many Contact Centres will run AI engines as they have configured IVRs until now. But it is only through trial and error that businesses can reach effectiveness in using AI.
To find out more or if you have any questions, please contact Emanuele Ceppelli on: firstname.lastname@example.org.