Tag: CCO

Winning in the Competitive Contact Center Outsouring Market | Sherpas in Blue Shirts

The contact center outsourcing (CCO) industry has been growing at an average rate of 5-6 percent over the last few years. Yet some service providers in the mature, competitive CCO market, where most of the traditional offerings have been commoditized, have managed to expand their businesses organically at a higher pace than the CCO industry average, some to the tune of 10-15 percent. How have some small to mid-sized players with targeted CCO offerings such as HGS or Wipro, and the largest player in the market, Teleperformance, been able to so significantly exceed the average? They’ve been making right set of differentiating investments.

To set the stage, two key changes in the CCO market explain the reasons these value differentiators make a difference to the growth of the service providers:

  • Changing consumer mindset – The new tech-savvy consumers seek instant and painless gratification in their interactions, via the channel of their choice. Most providers are ill equipped to manage the expectations of these new-age consumers and are looking for solutions
  • Changing value proposition – There is growing realization within the buyer community that CCO is not just a cost containment measure, but also a means to drive strategic initiatives impacting business outcomes.

These changes present an opportunity for service providers to have a significant impact on their clients’ performance. They also mean a departure from the growth strategy used by providers so far – expanding operations to leverage economies of scale.

The new value differentiators

Through its extensive research, Everest Group has identified five key differentiators that will enable providers to outshine their competitors.

1CCO Diffs - 5 High Growth

Each of these is focused on providing a best-in-class customer experience to the new-age consumer, which in turn ensures positive impact on the client’s business outcomes. For example, high-growth service providers that have made significant investments in higher-margin value-added services – such as performance management and reporting, and customer retention management – have generated 10 percent more revenue than their competitors.

 

2CCO Rv by process for blog

To find out who these high-growth providers are, and how the value differentiators have helped them outpace the market, grab a copy of our recently published report titled “Identifying the Differentiators of High Growth CCO Providers.”

 

What’s Holding Back Organizations from Deploying Social Media Analytics in Their Contact Centers? | Sherpas in Blue Shirts

Adoption of social media as a commercial interaction channel continues forward at a rapid pace, both among consumers and the companies they engage. Nowhere is this impact felt more profoundly than in the contact centers charged with supporting these customers. One of the advantages, and some would say disadvantages, of social media is the vast amount of data generated by every click and every keystroke. A potential treasure trove of information about consumers and their behavior, the social media channel offers the chance to apply analytics to volumes of information only dreamed of in the past. So why aren’t more organizations actively leveraging social media analytics in their contact centers? Why are only a small number of mature social media adopters figuring out how to leverage this channel proactively instead of reactively, to drive their own business agenda? Everest Group research shows there are five main obstacles getting in the way:

  • Stakeholder alignment
  • Immature social media adoption
  • Lack of adoption roadmap
  • Channel integration challenges
  • Shortage of social media and analytics skills

Stakeholder alignment: Unlike past interaction channels, interest in social media cuts across various internal department, including marketing, customer care, and IT. Each department has its own objectives with social media, measures success by different metrics, and often funds and budgets for social media investments independently. These dynamics create complexity and misalignment in how social media is managed.

Immature social media adoption: Where companies stand on the social media adoption continuum greatly impacts the nature of their investments. To date, the more mature social media adopters looking to leverage existing pools of data have implemented the most advanced analytics capabilities. To date the majority of companies continue to focus primarily on their fundamental social media capabilities of interaction, monitoring, and brand perception, with a lesser focus on the associated analytics.

Lack of adoption roadmap: Getting off the social media analytics block is easier said than done for many organizations. Identifying where to start and how to implement analytics effectively to drive business and process value often creates hesitation in some organizations, slowing adoption timelines.

Channel integration challenges: Consumer expectations about an integrated interaction experience continue to grow. Integrating various interaction channels (voice, e-mail, chat, web self-service, mobile) is already high on the corporate priority list for many. However, the public dialogue nature of social media combined with the high volume of data captured create a situation where social media implementation cannot be separated from the corresponding analytics components.

Shortage of social media and analytics skills: The successful implementation of social media and analytics require specialized skills in two distinct categories: the IT professionals that implement and maintain these technologies and the customer care services staff that engage customers via this channel. In both cases, organizations often experience a lack of internal skills and find a shortage of experienced people in the broader market. Again, another obstacle slowing the social media analytics adoption timeline.

No doubt organizations are working their way through these challenges and developing the internal resources to support their social media and analytics strategies. Compared to other interaction channels, social media not only requires analytics to effectively utilize the channel, but also offers the greatest potential for impacting the consumer experience, whether positive or not. We will hear about this topic for quite some time to come. In our next piece on social media analytics, we’ll explore how some organizations are turning to contact center outsourcing providers to shorten their learning curve and get them out of those starting blocks more quickly.

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