Companies in the telecommunications industry see the most significant competition in the residential and small business markets. These markets are saturated with companies whose success relies heavily on having lower prices than their competitors. The relative ease for customers to move from one service provider to another makes churn rate particularly concerning for telecom companies. In addition to price, customer service plays a huge role in the decision to switch telecom companies. A study from The Contact Center Association said that 63 percent of people will become disloyal to a company because of a negative contact center experience. Voice self-service powered by AI addresses the concern of both price and customer service. Automating more call types can help telecom companies drastically reduce overhead costs, while increasing customer satisfaction by providing a more effortless experience.
Challenges for the Telecommunications Industry include, but are not limited to:
• Long queue times for customers waiting to speak to customer service representatives.
• Routine account and billing issues take up too much live agent time.
• Inefficient methods for communicating information about products.
• Complex billing information results in repetitive and frequent calls that cannot be processed through a traditional IVR.
• Personalizing calls based on an assessment of customers’ needs accessed through account information on file.
Our perspective on voice self-service for Telecommunications customers:
High churn rate makes customer SERVICE and PRICE the top priorities.