Reinventing Retail Experiences for the 21st Century

Retail Experiences
0 %
Reduction in Cost per Transaction
0 %
of Calls Migrated to Messaging
0 %
Reduction in Average Handle Time
0 %
Improvement in Customer Satisfaction

 

Challenge

Customer expectations have transformed at an unprecedented pace, forcing brands to rethink “traditional” CX operations. As part of its 3-year plan to reinvent itself for this new landscape, our client, a global retailer of home products, wanted to implement a digital-first, omnichannel strategy that would reduce its operational costs while continuing to offer industry-leading customer retail experiences.

When the COVID-19 crisis hit, the client found they lacked the capability and easy access required to meet customers digitally. Their goals evolved from simple digital enablement to stabilizing the enterprise, investing in infrastructure, and –most importantly –working with a partner to develop clear digital objectives for connecting, engaging, and supporting customers in their life moments.

Solution

Having begun design sessions with the client prior to the pandemic, we were able to apply that work to the client’s new vision and brand strategy. We proposed a realignment of our collective efforts with a results-based contract in which we funded the transformation to improve CX while guaranteeing long-term savings. Concentrix experts across CX strategy, technology, insights, and delivery collaborated to lead the client’s reinvention into a digital-first, omnichannel retailer.

Concentrix began by using Customer Experience Analytics to identify gaps in the consumer journey, which pointed to a wealth of CX improvement opportunities. With 60+ enhancements quickly identified and prioritized, we deployed our Agile implementation methodology to begin aggressively achieving cost and customer retail experience improvements in 2-week sprints.

We started by replacing the client’s traditional menu-based automation with conversational AI to provide for a more natural, intuitive customer interface, and paired that with a redesigned bot and advisor assisted messaging experience. Our collective efforts enabled easy access for customers to self-serve order inquiries, discounts, support, account questions, and gift registries via text, social media, and web.

As the transformation continued to accelerate, enabled by our XP Orchestrationplatform, we turned data captured across customer touchpoints into customer journey insights.

With insights gleaned from connecting a customer’s search and order history, chats and emails (whether bot or human-assisted), previous calls, and social media mentions or tags of the brand, we can better predict customer needs, empowering the client to proactively engage with customers and their life moments, delivering seamless, effortless retail experiences, sometimes even before the customer reaches out with a question or concern.

In addition to informing better business decisions for the client, critical data points gathered by Concentrix tools were transferred to advisors, with that holistic view of a customer’s history assisting them in personalizing engagement, empathizing with the customer, and more efficiently determining resolutions to the customer’s needs or concerns.

Beyond collaboration between Concentrix and the client, the success of his transformation also incorporated critical customer inputs, providing insights we could share with the client. Speech and Text Analytics were used to identify and prioritize opportunities for advisor behavioral training and coaching, while Voice of the Customer surveys measured and calibrated both customer and advisor experiences, making each interaction one of shared accountability, increasing advisor self-awareness, and driving proactive improvement throughout the customer’s life with the brand.

Outcomes

With information shared in a partnership across Concentrix and client teams, we have successfully:

  • Transformed the client into a digital-first, omni-always retailer
  • Promoted better customer life moment experiences
  • Driven greater efficiencies for customers and the client
  • Empowered more successful, better-engaged advisors

We are on pace to shift 4 million conversations to messaging by the end of the first year and provide $9M in guaranteed cost savings over 3 years. Results to date include:

  • 20 percent reduction in cost per transaction
  • 41 percent of messaging conversations resolved by bots
  • 35 percent of voice conversations resolved by bots
  • 40 percent of calls migrated to messaging from voice channel
  • 27 percent reduction in average handle time for voice
  • 12 percent reduction in average handle time for advisor-assisted messaging
  • 8 percent improvement in customer satisfaction for voice
  • 6 percent improvement in customer satisfaction for messaging

Learn how Concentrix can help you take your digital experience to the next level.

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