How to Evaluate a Voicebot?
Why are voicebots Trending?
Voicebots have currently become an inseparable part of our lives, specifically because it has made it very easy for us to engage every pace of our lives with technology and making handling daily tasks like setting alarms, scheduling meetings, sending reminders, etc. all the more easier.
Today in the current global e-commerce space, Voicebot like Google Home, Amazon Echo, etc. are known as the programmed human-voiced Chabot which have the facility of exchanging dialogue, to perform tasks like accepting verbal and written commands and being interactive with humans.
How will voicebot Help in Business Operations?
In the global e-commerce market, the AI voicebots has been in an ever-increasing demand both for businessmen and customers for a multiplicity of reasons. Firstly AI voice bot has significantly improved inbound marketing for firms, like sales, customer support, increased profitable sales, marketing strategies, etc.
Secondly, AI voicebots enable the smooth generation of qualified leads for business dealings, without having to disturb the office support members. Thirdly, handling of existing customers becomes very smooth and flexible, due to upselling done via AI voice bots.
Other benefits offered by AI voice bots are the improvement of two-way communication in customer support for the firms, reducing the friction that occurs for customers while conducting online actions, helping auto-download options of files and other applications, etc.
How to Evaluate Voicebot in Business?
There are two ways to evaluate the success of Voicebots:
To enhance your business, the correct implementation of Voice Assistant is the most central premise and scalable way to increase customer engagement and render speedy resolutions. Therefore to ensure tech success for customer support, the firm is required to overhaul the routing process, where the Voice Assistants can ask the customers the reason for their call and act like a human secretary. Voice assistants are ideal solutions for improving calls with customers, scaling up voice operations for customers, reducing transaction times, etc.
Voice assistants or voicebot need to address specific business need. The best way to evaluate if a voicebot has addressed a business requirement is to have set KPIs. For Example- if the priority is to reduce the average handle time then the voicebot will be used to focus on quicker response time and remove the transition time between connecting a human to an agent in case of escalation.
This way it is easier to evaluate the business performance when compared to scenario with or without voicebots. The huge profits every firm has been blessed with after the implementation of these voice assistants has also led to the development of automated call centres and advanced customer support services.
How to measure the success of Voicebot?
The major KPIs to measure the success of Voicebot are as follows:
Increase in Net Promoter Score
NPS or net promoter score measures the loyal customer percentage of a particular brand when compared to the potential customers that can be acquired to elevate the business. Voice bots, therefore, help the firms to increase and amylase the NPS of that particular firm.
Usage of voice bots by the company is bound to increase customer satisfaction for the company and hence, this raises the firms’ NPS, where customers recommend the brand to others, increasing the popularity and brand image of the firm.
First Call Resolution Rate
The AI voice bots help the firms attain the goals of creating a sustainable customer experience, enacting multiple channels, and various touchpoints. Sustainable customer retention helps in the affirmative ways to increase revenues, increase higher margins, increase the number of loyal customers, and therefore increase their satisfaction levels.
The first contact solution or FCR rate has been proven by statistics to drive greater customer satisfaction, increase two-way interaction, and offer better resolutions to them.
Speed of Answer
Since voice bots have been created to deliver speedy customer services, the usage of voice bot aims at transforming conversations using technology to enhance the business level. Therefore the customer service portal depends on the answer speed delivered by these voice assistants which is not only swiftly delivered but accrues to a more calculative answer speed than human chat agents.
Know more about the Top KPIs of Call Center which Every Manager should Focus on
Call Handle Time
Voice bots offer services for the firms irrespective of the time frame, i.e. they are designed to render 24×7 services for the customer services. When calculated it is found that a voice bot of superior quality is designed to calculate a cost of 3-5p per minute, which is equivalent to the rate of offering £2.00 on a per hour basis.
The voicebots, therefore, are the most convenient options firms can use up for handling multiple and simultaneous calls or customer interactions. Voicebots can seamlessly handle n number of calls throughout the day, without having a barrier, and thus are the cheapest alternative for firms to provide customer services to their clients.
Average Handle Time
With the efficient usage of Natural Language Processing or NLP and smooth semantic searches, technically empowered voice assistants judiciously identify the keywords spoken by the customers, and convert them into accurate knowledge, to converse with them without making mistakes. This technical smoothness ensures the reduction in the average handling time of calls, also eliminates the possibility of error occurrence, and finally assures the availability of accurate information.
Lead Conversion Rate
Marketing firms use AI voice assistants to combine automated calls, emails, etc. to the under qualified leads. The voice assistants lead certain questions to the leads like their user experiences, or current location, solutions to improve their conditions, etc. With these queries asked by the voice assistants, when the leads become qualified enough, the sales processes of the firm or the lead scoring process via normal machinery, these voice assistants are introduced to normal people. In this manner, the firms can increase their high lead conversion rate.
With the world making gradual steps towards AI based transformation, there are many organizations coming up to bridge the gap between affordability and AI solutions. Organizations like Kwantics foster multifaceted AI based solution implementation and handhold organizations while they digitally transform. Offering simple and affordable solutions , Kwantics has made it easier for large as well as small and medium firms to explore the new developments of this AI era.
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