Case Studies
Etech Insights helps Global Telecommunication leader to improve Sales conversion with Market Intelligence study and analysis.
Industry: Telecom | Service: Quality Monitoring and Analytics
Success At a Glance
Challenge
Ecommerce companies that have invested in an online chat sales channel know that it is an ongoing challenge to improve and sustain conversion rates in order to meet their aggressive revenue goals. As part of their sales strategies, many companies run promotional offers on their website every quarter to drive revenue and sales. Companies can find it difficult to develop the right promotional offers to attract new customers. Some promotional offers do well and some do not.
Solution
One of the key aspects to ensure that a promotional offer does well is to get timely feedback and reactions from customers in the first few days. This helps companies quickly make adjustments and changes to their promotional offers. In today’s competitive marketplace time is money and a delayed decision or an incorrect decision directly impacts revenue and profits. So, it’s imperative that companies close this gap to ensure that they are ahead of the competitors in the marketplace.
One of the best methods to gain customer reactions and feedback is to analyze a statistically valid sample of chat interactions. During the first few days of a new promotion, data can be collected to determine customer reactions. This is quantified to help drive actions or changes to the promotional offers in a timely manner and maximize the offer’s penetration in the marketplace.
The company chose Etech Global Services’ QA Solution, Etech Insights, for their deep industry experience led by QA experts with over 20 years of experience. The Etech Insight’s team included scrubbing and analyzing chat interactions to understand and capture the voice of the customer and their reactions to new promotional offers positioned to drive sales and revenue.
Results
The telecommunications provider was extremely pleased with the Etech Insight solution of providing voice of the customer data and analysis based on reviewing and scrubbing chat interactions. Based on the findings, the telecom provider made changes to the promotional offer. Conversions in the first two weeks went up by 4% and the third week to 5%. The overall conversion for the quarter was 3% higher than the previous quarter. It was determined that half of the prospects had concerns with the actual services being provided, specifically around the contract terms and when comparing the features of the services with other competitor offers. A third of the prospects were price-comparing and had concerns with the client’s price points when coupled with contract time commitment requirements. The remainder of the prospects were general information inquiries.
Conversion in second week went up by 4%.
Overall conversion for quarter was up by 3% than the previous quarter.
Here’s how it works
From the day the company launched their new promotional offer, Etech Insights reviewed a statistically valid sample of all chats with any discussion around the new promotional offer. The purpose was to identify and capture the voice of the customer and their reactions to the new promotional offer. Etech Insights’s team quantified the customer reactions into actionable categories and data. A daily analysis was sent to the Telecom client to ensure they have visibility into the customer reactions to their new promotional offer so they could make quick decisions to improve the promotion, if needed.
Conversions Increased Quickly
This client acted on these opportunities and realized a sales conversion improvement of 4% by the second week and 5% by the third week. The overall conversion for the quarter was 3% higher than the previous quarter. The leading telecom provider understood the value of quality assurance and how it could benefit their overall sales goals. Our partnership continues to flourish and Etech Insights works diligently each day to provide best-in-class QA services. Today Etech continues to provide the customer with market intelligence data that helps client to drive more effective promotional offers and also Etech provides the insights into customer perceptions to help improve their website effectiveness and order process flows.
Top Reasons For Customer Dissatisfaction With The Promotional Offer
