As a business, you know how important it is to retain customers. Not only does it cost more to acquire a new customer than to retain one, but loyal customers are also more likely to spend more (increased customer lifetime value) and refer others Without retained customers, , your business will fail - but have you considered the role that your agents' experience plays in customer retention?
Agent experience (AX) directly impacts customer experience (CX), and therefore retention in a big way, as we explain below.
The Link Between Agent Experience and Customer Retention
Your agents are the voice of your business, and the experience they provide can make or break a customer's experience. If your agents are knowledgeable, friendly and efficient, customers are more likely to have a positive experience and continue doing business with you. On the other hand, if your agents are untrained, unengaged or unresponsive, customers are more likely to become frustrated and take their business elsewhere.Research has shown that there is a direct link between agent experience and customer retention. In fact, a study by Temkin Group found that companies with highly engaged employees outperform their competitors by 147% in earnings per year. Additionally, a report by Gallup found that companies with engaged employees experience a 10% increase in customer ratings and a 20% increase in sales. Improving agent experience contributes towards profit increase through retained customers:
First impressions
Your agents are often the first point of contact with your customers, and first impressions matter, especially when it comes to turning new customers into loyal ones. If your agents are friendly, knowledgeable and efficient, customers are more likely to be satisfied and come back to do business with you again. If a customer’s first experience with an agent is negative, it’s unlikely they’ll come back. Lost customers often leave negative reviews, meaning future customer acquisition could be impacted by a poor first impression, making it all the more important to get it right first time.
Efficient issue resolution
When customers have issues or complaints, they want them to be resolved quickly and accurately. As the saying goes, it's often not the issue itself that's the problem, it's how you deal with it. If your agents are well-trained and empowered to resolve issues, customers are more likely to have a positive experience and feel satisfied with the outcome, allowing you to boost retention. This also increases the likelihood of first-contact resolution which, in turn, frees up your agents to help more customers in a timely manner.
Personalisation
Customers want to feel valued and appreciated. Agents who have the tools and systems that route account information efficiently are able to personalise their interactions, and this can make a huge difference to whether or not customers will be inclined to come back and stay loyal.
Consistency
Customers want consistency in their interactions with your business - especially existing customers. If your agents provide consistently good service and experiences, customers will feel more comfortable using your services multiple times because they know they can expect a high level of service. There is some research that says customers will even pay more for good customer service.
Benefits of Improving Agent Experience
In addition to contributing to increased rates of customer retention, improved agent experiences can provide a multitude of other benefits to your business, your wider team, and your customers.
Increased job satisfaction
Improving agent experience can lead to increased job satisfaction. Agents who feel valued, supported and empowered to help customers are more likely to enjoy their work and feel fulfilled in their roles. This, in turn, can lead to higher levels of engagement and productivity, as well as a greater willingness to go above and beyond for customers. Businesses that prioritise agent experience can create a positive work culture, which can improve staff morale and reduce turnover.
Reduced staff turnover
Reducing turnover is another benefit of improving agent experience. High agent and advisor turnover can be a significant cost for businesses in terms of recruitment, training and lost productivity, and it can increase workloads and stress for remaining agents if resources are low. By investing in their agents, businesses can create an environment where they feel valued, supported and are engaged, which can reduce turnover rates overall. This, in turn, can lead to greater consistency in customer service and increased customer retention.
Improved productivity
Improving agent experiences can also lead to improved productivity. Agents who are well-trained and motivated are more likely to be effective in their roles, which can increase efficiency and productivity. Businesses can invest in tools and technologies that help agents to be more productive, such as customer journey software and automation tools such as co-browsing, which can free up time and enable agents to focus on delivering excellent customer service where it’s most needed.
Increased customer retention
Ultimately, the goal of improving agent experience is to improve customer retention. Satisfied and engaged agents are more likely to provide excellent customer service, which can lead to increased customer loyalty and retention. By investing in their agent experience, businesses can create a positive feedback loop where happy customers lead to happy agents, and vice versa.
How to Improve Agent Experience
As we know, happy and engaged agents are more likely to provide a positive customer experience, leading to higher customer satisfaction and retention rates, but how do you go about improving agent experiences?
Provide training and development opportunities
Ongoing training and development are essential for keeping agents engaged and motivated. It also helps them improve their skills, which in turn enhances their performance. Provide regular coaching sessions, skills workshops and opportunities for further education and development to retain your agents and make them more engaged in their role.
Offer incentives and recognition
Ongoing training and development are essential for keeping agents engaged and motivated. It also helps them improve their skills, which in turn enhances their performance. Provide regular coaching sessions, skills workshops and opportunities for further education and development to retain your agents and make them more engaged in their role.
Offer incentives and recognition
Agents who feel valued and appreciated are more likely to be engaged and motivated to do well. Incentives such as bonuses, awards or extra time off can be a great way to show agents that their hard work is valued. Recognise their achievements publicly, whether through company-wide announcements or through social media platforms, to motivate other agents to do well.
Create a positive work culture
A positive work culture is crucial for keeping agents engaged, motivated and happy at work. Encourage a positive work environment by fostering open communication, providing opportunities for collaboration, and creating a sense of community. Celebrate success and encourage teamwork, and ensure everyone feels safe and welcome at work.
Provide the right tools and technology
Investing in the right tools and technology can significantly improve an agent's ability to deliver exceptional customer experiences. Providing agents with the right tools, such as access to a comprehensive CRM, co-browsing software to aid customer queries, or enhanced CCaaS to appropriately filter customers to the correct representative, can lead to improved customer interactions and increased satisfaction, as well as reduced workloads for agents and less risk of burnout.
Provide regular feedback
Regular feedback helps agents to know what they are doing well and where they need to improve. Regular feedback sessions provide an opportunity to discuss goals, performance and expectations, as well as an opportunity for agents to highlight anything you could be doing as an employer to empower and engage them. Feedback should be constructive and actionable on both sides.
Agent Experience Tools at Vizolution
At Vizolution, we specialise in improving AX and customer experience management. Our comprehensive software tools can be applied to various industries to enhance AX, optimise customer journeys and elevate customer satisfaction overall. We offer a broad range of solutions, including intuitive, dynamic, scripted agent-assisted journeys. To learn more about how we can help you improve your agent experience and customer retention, please contact us.
