What is IVR?
The full form of IVR is Interactive Voice Response. As name suggest, this specialized technology falls under the category of voice based communication system. It has pre recorded audio or text responses as per the possible problems and situations. Based on the inbuild data, the system navigate the caller as per his/her query.
This automated business system works in five stages:
- Interact with customers / callers
- Provide them real time information in a form of pre-designed menu and options
- Receive customer feedback in a form of keypad entries and passes (touch tone) or voice response
- Understand their accurate problems
- Transfer the voice call to specific department or human operator, only if the problem is not getting resolved on automation mode
If you have the said system built into your business operations, your customers will rarely need to speak to a human agent. The customers will not have to deal directly with people, so there will be few misunderstandings or fights. Also, you will get the chance to avoid unnecessary arguments with customers, and the service will be efficient. Unlike dealing with people, the possibility of this system committing an error are few. Apart from call centers, it can also be used in your business environment.
The following are 5 technological benefits of IVR system for business success.
1. Saves time and increase productivity
The system will allow you to accomplish several tasks at once. As an owner of a business or an executive director, working on multiple tasks can be a strain on your time. For example, you can prepare a presentation for an advisor meeting and take calls from customers about orders. The system will handle the calls for you, saving you time. If you want, you can check live call monitoring from the backend.
It is a part of office automation process. A huge number of human hours will be saved by installing an IVR system. It can easily handle a large volume of calls. Your employees get freedom from mundane work. If used properly, it can improve your service quality.
2. You get to save money
Most people don’t have the cognitive skills to talk with customers efficiently themselves. If you have an IVR system at your business or place of work, you can save time and money. With the help of it, you can make sure that the customers are getting accurate information from it. Moreover, if there is an unfulfilled order, it will take care of that too. It can also reduce cost, as you are not hiring manpower for such works.
Such Interactive Voice Response system is necessary for any modern business. Get an IVR API for your business from a reputable company to be competitive. It will improve the customer journey in your system with an ease.
3. Higher chance of better customer experience
As name suggests, it is an automated voice response system that can provide information to customers in a few seconds. It routes the incoming call to predefined system of multiple options. For example, if you are a restaurant owner, you will give your customers accurate information about the menu, prices, and all other details. The system will also handle complaints, and it can play customized messages to customers. It can also insolate priority calls.
It is one way that ensures that your business gets more loyal customers via this menu based service. You should evaluate the options periodically to make it more robust and increase the ratio of customer engagement. It is one of the best customer retention techniques. It provides real time engagement to users and can divert the call to specific department via it’s intelligent call routing algorithm. Such sophisticated interactive voice response system connects the caller with the proper agent.
4. You give unlimited access to customers
It helps to operate your business at any time of the day. It can be accessed from anywhere, and it is convenient for any customer. The large array of features allows you to access general customer needs: receive orders, and handle complaints easily. The best part is that it gives customers easy access to all the important details about your business.
Also, with an IVR system, you may get to solve many queries on the first call. It means your agents may not have to rush to get information and hurry customers. The system will deal with the most basic questions and only refer a customer to an agent if there is no possible solution. Customer satisfaction is always the prime parameter, so all the functions revolves around it.
5. An IVR system gives an impression that your business is well established
Every business can’t afford such system and might not even have a vision to install it. Having it in your automated system will attract more people. The number of customers who prefer an established company is usually high. Customers are likely to come to inquire about your business if you have an IVR system installed. It improves resolution times and increase customer experience.
Also, they are likely to give you more business if they know that your company is reliable. This system is a great approach for a startup business. You may want to inspire confidence in potential customers by using an IVR system. As new customers contact the company and the service is satisfactory, they may return for more business.
Wrapping up:
The above 5 are the most common benefits of IVR system, but you may find more advantages to using this system. It can help you to increase your profits and revenue by up to 30 percent, depending on the market condition. Scholars who have surveyed IVR systems’ profitability claim companies can improve their conversion rate.
The most useful IVR applications are banking services, customer care operations, retail and wholesale business, travel and tourism and various other online utilities.
Also, this mechanism can be paired with call recording software. It is an additional feature that offers more benefits to your business. The software helps to track what happens during every call and makes reviewing calls easier. It can help you track agents’ performance, the number of calls answered on time, and the time spent on each call.