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How a Savvy Service Provider can Survive and Grow – Part I August 11, 2017

Posted by Dominic Black in Uncategorized.
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Many businesses in the UK, small, medium and large are suffering. Pressures created by fears of what BREXIT may bring, austerity reducing the flow of money and challenging economic conditions, mean they are searching for efficiencies and cost saving opportunities to maintain and grow. These are requirements that the savvy Service Provider can meet to grow their own business. Services have become increasingly competitive and the number of Service Providers in the UK now exceeds 95, so business customers have choice, and this creates the need for Service Providers to increase the attractiveness of their offerings creating stickiness to maintain their current clients and to introduce new value-added services to increase their client base.

Value Added Services that Improve Customer Service

Good customer service is key to business success in every sector and the market research firm Cavell are reporting an increasing demand for call centre features for business telephone users beyond the contact centre. They surmise that this is a direct result of the drive to improve customer services.  The business goal is to collect data from communications that will provide information to help the business to make customer communications better and enable multiple communication channels to be utilised beyond voice, including social media and instant messaging. Call Recording and Analytics are the two key basic call centre offering in demand and large platform providers are increasingly developing these capabilities, or collaborating to be able to offer these services to SME and large enterprise businesses.

Call recording has been available for a while and is a mature product. The key applications have been MIFID II for financial Service tracking and PCI compliant call recording for where credit card details are collected over the phone. The recent change, is that there is an increasing use of Call Recording to provide the business with the data to target areas for improvement through staff training and to secure details of customer interactions for future reference and to improve customer service.

Analytics is the second growing offering. Businesses are increasingly using Analytics on every customer inbound channel to gather information to help them to sell better and to understand what media their customers are using to communicate with them. This data helps them to understand how their customer is interacting. Demand for these analytic products is very high. Service Providers such 8×8 have invested in building their own analytics solutions and others are collaborating with providers like Akixi, Dubber and Tollring to be able to offer analytics solutions. The data provided helps the business to understand how to manage calls effectively and to identify future possibilities for new products.

Stay tuned for our upcoming posts where we will be covering what else we have seen makes Service Providers successful in this ever-changing and highly-competitive market.

Also, if you wish to contribute to our market research (due to be released on August 31st), please follow the links below. All participants will receive one ticket at our upcoming European VoIP Summit and have the opportunity to join our webinar on September 7th where we will be communicating our top-level results and some of the main trends we have seen in the UK Hosted VoIP and SIP Trunking market in the last six months.

Hosted VoIP Survey

SIP Trunking Survey