The Cost of a Misspelled Name
The Next Caller origin story hinges on a single customer service mistake – a misspelled last name. Our CEO, Ian Roncoroni, had his name misspelled as “Ron Coroni” on a rental car reservation. He ultimately lost the reservation because the company could not locate the record and ended up missing the wedding he was scheduled to attend. After becoming so frustrated and enraged at this constant phone-based inconvenience, he quit his job and founded what is now Next Caller.
Anyone with an accent, a last name longer than seven letters, or a name with a combination of c’s and y’s and z’s can tell you that this frustration is constant. If a customer is calling with a complaint, spelling and respelling their name is not a way to move to a fast resolution nor is it helping improve their already poor customer experience. If someone is calling with an intent to buy, you have just created a hurdle to converting that prospect into a customer.
The costs associated with misspelling names aren’t hypothetical, they’re real. If one customer became so frustrated he quit his job, what could these types of challenges be costing your business? Here are a few examples:
Our analysis of tens of millions of calls have pointed to every 30 seconds of handle time costing a company $0.50. At a volume of 200,000 calls monthly, a company that is able to shave off just 30 seconds of handle time can save $100,000.00. That’s $1.2 million annually.
Some firms are interested in saving money, others have an eye towards making money. It’s not an either-or though, as improving the call experience can do both. Research shows that a 7% increase in NPS correlates to a 1% increase in revenue. That friction-filled first 30 seconds of spelling and respelling information is an NPS killer. If you’re able to remove that hurdle from the call, you’ve not only saved money on handle time, but you’ve allowed your agent to get right to work, ultimately resulting in a more satisfied customer. Satisfied customers result in higher NPS, and higher NPS results in more revenue. A win-win.
If you are relying solely on agent input to capture priceless contact information from the customer, you are setting your organization up for failure. Misspelled names and addresses hurt your fraud and direct mail efforts, while poorly captured email addresses limit the reach of your email marketing campaigns. And are your agents doing anything to record the social media handles of incoming callers? Without high-quality, real-time caller data, your business is performing below its potential.
By screen-popping information such as name, address, email, and social media profiles for agents in a real-time environment, businesses are able to decrease handle time, decrease front-end call friction, increase NPS, and ensure the validity and richness of their CRM. For too long a solution like this was a fantasy. The mobile revolution made it near impossible to identify callers with any semblance of accuracy. However, by using Next Caller through the ShoreTel Summit platform, businesses have seen match rates exceeding 90% on incoming callers – allowing them to increase satisfaction, efficiency and revenue.
Tim Prugar is Director of Customer Success at Next Caller, specializing in Call Center efficiency and Fraud Prevention. Tim is a frequent contributor to the International Customer Management Institute, and is a member of the Consumer Education Committee of the Communications Fraud Control Association. He lives in Connecticut.