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SigmaWay Blog

SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Visual Data in Decision Making

With every passing day, data and not instincts, are used for the expanding of business. Data is the new gold, as it helps in determining trend, offering better customer experience, responding better to market demands. However, given the data size is so big, Data Visualization is opted for, making the interpretations easier. The major reasons that data visualization is crucial are: • Data visualizations amplify a story with pictures and visuals. • Data visualizations makes difficult data comprehensible. • Data visualizations help in decision analysis. Read more at: https://www.experfy.com/blog/the-value-of-visual-data-in-decision-making

 

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Personalizing Customer Experience

Building good relationship with customers satisfies them with their purchases and makes them recommend it to others. With increasing competition in the online market, personalizing customer experience is one good way to attract customers. Success rates are as high as 77%. The ways to personalize experience are: • People tend to search for goods online and purchase in store. Hence, by using geological tools, customers can be notified about nearest shops and the ongoing deals which provokes them to make an early purchase. • Saving information like card details, shipping information, preferences saves time and gives customers a good experience. • Studying the customer preference and making personalized recommendations attracts more customers. • Determining the geographical location of the customers and using their native language and quoting prices in their local currencies gives the customers a clearer overview and therefore convincing them to make the purchase. • Customers are more driven by personalized videos of the products as compared to written description as watching a video involves almost no effort. Read more at https://www.vocalcom.com/en/blog/customer-experience/5-innovative-ways-to-personalize-the-customer-experience/

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A Smarter Approach to Customer Value Maximization.

Customer Value Maximization is a good method used to attract customers to increase transactions and keep active customers of a business for a long duration. The primary factors which contribute to the total revenues that a customer will generate are time, purchase frequency and monetary value of purchases. Maximizing the value of the customer to the business implies maximizing time × purchase frequency × monetary value equation. The pillars of every value maximization strategy are:

1. Customer segmentation 

2. Tracking customers over time.

3. Accurate prediction of future customer behaviour.

4. It should be based on the use of advanced calculations to determine the Customer lifetime value (LTV).

5. Marketing action optimization.

Read more at http://www.optimove.com/blog/maximize-customer-value-smart-way

 

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Someways Startups Can Apply AI

Artificial Intelligence startups are reaching a new record high with gaining good deals and investments from tech giants. There are four ways you can apply AI to your business. 1.Analysing various raw data you are able to find a cluster of similar minded people and get to know your next customer. 2.You will able to see how people genuinely using your product. 3.You will be able to get inside the user’s head using the user’s data pattern. 4.Making a digital assistant you will be able to provide affordable and always-on support.Read more at:https://www.entrepreneur.com/article/292286

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Future of AI

Artificial Intelligence is one of the most important part of our daily life from simple features like automatic image tagging to prediction and recommendation in business. AI will begin to learn emotion, better understand human sentiment and solve more complex problems. Soon, companies will be able to automate a large chunk of data analysis, decision making and customer service, allowing employees to tackle the most complex challenges rather than get bogged down in the details. Read more at:https://www.entrepreneur.com/article/290444

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How to target millennials through CRM?

Millennial refers to the population aged between 18 and 34. This makes up the largest chunk of mobile users, i.e. 85%. Thus technology consumption is the highest in this generation and CRM software can help brands to generate profit from this generation.

Social media is a powerful tool. Social media details are becoming more lucrative than communication methods and CRM stores these social media details in one place. It is a well known fact that almost all social media users search for product information and news from brands and also communicate with brands on social network. Most popular social media platforms are Facebook and Instagram.

Real time behavioral tools generate deeper insights into consumers’ purchasing pattern. These tools nowadays are available with CRM software. Real time data help to target precisely and also improves customer satisfaction.

Improving customer service is the key to success.  CRM software helps to track communications between customer and customer representatives and thus helps in resolving complaints promptly. 

To read more follow:- http://it.toolbox.com/blogs/insidecrm/3-ways-to-use-crm-to-target-millennials-74198

 

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Why VoIP for call centers is important

Customer service is important for any brand.  According to reports, the quality of client services will matter more than price as a key brand differentiator. It is also found that, organizations that invest in providing a superior customer experience can achieve 10-15% higher revenue and 20% higher satisfaction rates. Contact centers play a central role in the quality of customer service. Selecting the right technologies is important in powering a call center that in turn will yield high customer satisfaction  and switching to voice over IP telephone services allow cost savings and access to cutting-edge features. Lewis Robinson (a business consultant specializing in CRM and sales) writes in his article why VoIP for call centers isn't risky at all -- and how it's a sensible choice for many organizations. Read more at:  http://it.toolbox.com/blogs/voip-news/voip-for-call-centers-its-not-as-nutty-as-it-sounds-70769

 

 

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CRM & Customer Service

CRM offers excellent customer service because it equips you with the tools you need to understand your customers and their wants and needs. But the effort is wasted if you don't use them properly. You can make full use of your CRM by delivering excellent service. CRM also provides the basis for excellent customer service by giving you a 360-degree view of the customer. Ideally, CRM system should contain records of all your customer contacts with your business, including any problems that might have arisen and especially any promises that have been made to the customer. Read more at: http://it.toolbox.com/blogs/insidecrm/crm-and-consistent-excellence-70338

 

 

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Integration of Social Media to Optimize CRM

Customer Relationship Management (CRM) is a management tool that gives businesses the opportunity to engage and interact with current and potential customers. The advantages of CRM are numerous. It streamlines customer service, provides customers with a channel for communication, and allows businesses to manage and control interactions in different ways that benefit the organization and their clients . CRM increases customer satisfaction and improve clients' experiences, integrating CRM with social media provide several benefits to businesses and customers. Read more at: http://it.toolbox.com/blogs/insidecrm/using-social-media-integration-to-optimize-crm-70291

 

 

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Putting Ideas And Imagination At The Heart Of Your Business

The atmosphere in an organization has a huge impact on the creativity and productivity of its employees. The kind of work culture you choose as an entrepreneur or businessman will determine whether your employees are loving the job or diminishing their efficiency under the immense pressure presumably being put on them. The importance of creativity and innovation is crucial for a company to grow out of the box and possibly become the next billion dollar company. In order to know more about the approaches to work, and their relevance and impact, click on the following link: 

http://www.callcentertimes.com/Articles/tabid/59/ctl/NewsArticle/mid/407/CategoryID/1/NewsID/1010/Default.aspx

 

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Struggling for customers? - NOT ANYMORE

Social media has changed the retail environment by becoming the new consumer watchdog and has bring forth new challenges. It has changed the way people see news and learn about new products. If used wisely, mobile, digital and social media can be a powerful business weapon. Another great weapon is Customer service!
For instance a good customer service where you resolve a problem quickly can have a great influence on repeat purchases.
By being ferociously committed to customer service you can contribute to the success of your company. We need to remember a few basics-

1- Understanding customer needs- its very important to listen and show interest in customer needs.

2-Stepping into your customer’s shoes- Human beings like to be treated nicely so it’s important to show the customers you care about them and they matter.


3-Providing extra benefits- Going beyond customer’s expectation insures speedy success.


Read more here- 


http://www.callcentertimes.com/Articles/tabid/59/ctl/NewsArticle/mid/407/CategoryID/1/NewsID/988/Default.aspx

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Improving customer service in social media

A recent survey has revealed that brands active on social media gather bad reputation for their qualitatively poor customer service. Brands should improvise techniques to improve customer service keeping in mind the statistics revealed by the survey. Brands should allow people to post on their pages in social media only if they intend to review and respond to those. Responding to queries could simply involve thanking the customer for their valuable feedback and also complaints should be never left unattended. Customer service team should be made a part of the social media so as to provide a better social media customer service. Read more at: http://www.business2community.com/social-media/state-social-media-customer-service-experience-01251083

 

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Customer Service @ SaaS

Like in any other service, in SaaS also, customer service is the most important element. And this becomes even more important because SaaS customers are different. They not only need service at the point of sales, but also for the whole duration of use of the software. If satisfied, then only, will they renew the subscription, otherwise not.

Micah Solomon, Customer Service Consultant, in his article at Forbes, explains the importance of customer service in SaaS by taking an example of PayScale, a B2B SaaS company. According to Mike Metzger, CEO of PayScale, “The SaaS environment makes the threshold for satisfying experience higher. We’re always working on it.

Micah has also shared few tips for a successful SAAS customer service. Some of them are:

  • Hire the right people
  • Carefully define and put into place customer interaction standards and guidelines.
  • Beef up your self-service options.
  • Always be there for them.

Follow these tips and boost up your customer service, because ‘customer relations’ is the key to a successful SaaS business.

To know more, please visit the following link:

http://www.forbes.com/sites/micahsolomon/2015/04/25/how-and-why-to-improve-customer-service-at-your-saas-company-starting-today/

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Sales Opportunity Through Customer Service

Customers always want good customer service and like timely support and excellent customer service drives repeat business. Customers can pay a little more for products or services if they receive good customer service. CRM system helps to improve customer support and increase sales through automated e-mails, quotes, and invitations to sales events. Anthony Ortega (Analyst with Studio B) writes in his article link about how to turn great customer support into sales. Read more at: http://it.toolbox.com/blogs/insidecrm/turning-customer-support-into-future-sales-opportunities-66195

 

 

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How Technology Is Changing Customer Service in 2015

Technology had an impact on customer service. Social media have augmented the voice of the customer and created a space for dialogue and discussion among consumers. The key to win customer service in this landscape is intelligently using the technologies. Forrester Customer Index, which was published last year showed that companies with a strong focus on the customer experience has gained in performance accounts to 43 percent, while those that did not focus on outcomes had a drop in performance by 33.9 percent. Read more at: http://it.toolbox.com/blogs/insidecrm/seven-ways-technology-is-changing-customer-service-in-2015-66154

 

 

 

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Communication Service Providers: Best Practices

Communication Service Providers (CSPs) supplies a variety of services to business and other customers, such as high speed Internet, TV, and both wireless and traditional phone services. But customer satisfaction is very difficult. CSPs must deliver superior customer service and support in order to retain customers and acquire new ones. First Call Resolution (FCR) is critical because it directly impacts customer satisfaction. Larry Lien (responsible for product definition, product marketing, and strategy at Resolve), writes in his article about the best practices that CSPs can implement. Read more at: http://www.in.techradar.com/news/software/business-software/5-best-practices-to-improve-CSP-call-center-support/articleshow/44997854.cms

 

 

 

 

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Customer Service Technologies

Today's contact center must leave traditional approaches behind and transit itself into a real-time customer engagement center. According to Donna Fluss (founder and president of DMG Consulting), real-time analytics is quickly becoming a necessity in customer service. Recent innovations gives an organization a practical approach to use real-time input from customers and enterprise business intelligence solutions to optimize service experience. Real-time speech analytics takes traditional speech analytics to the next level, looking at interactions while they are happening. According to Frost & Sullivan's "2014 Big Data and Analytics Survey", it was reported that 75 percent of firms have either deployed or plan to deploy a real-time analytics solution in their organizations. Read more at: http://www.destinationcrm.com/Articles/Editorial/Magazine-Features/5-Hot-Customer-Service-Technologies-100524.aspx

 

 

 

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Improvement in the Pharmacy Department via Lean Six Sigma

According to some renowned pharmacy technicians, the application of LSS techniques in the inpatient pharmacy department at the University of North Carolina (UNC) Hospitals brought in a great deal of improvement. Kaizen ("improvement") events were conducted by the UNC inpatient pharmacy to progress work flow and customer service to patients and nurses. Overall, these improvements have refined work flow and improved employee and customer satisfaction. With LSS as a tool, UNC is constantly striving to promote the culture of continuous quality improvement. To know more read the article by Jami Mann, PharmD, MBA ( PGY1 health system pharmacy administration resident at UNC Healthcare), Allison Dipper, PharmD candidate (pharmacy technician at the Central Inpatient Pharmacy at UNC Healthcare), Erinn Rowe, PharmD, MS (clinical manager at UNC Healthcare)and Chad Hatfield, PharmD, MHA, BCPS (assistant director of operations at UNC Healthcare) at: http://www.pharmacytimes.com/publications/health-system-edition/2014/September2014/Lean-Six-Sigma-in-the-Pharmacy-Department

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Self-Service Rollout: A Roadmap

Organizations have numerous options to get answers from customers about their product or services. To get answers they use live-chat, speaking directly to a customer-care agent, and another gradually popular service called self-service. Self-service is becoming an important tool for any business. So, companies should keep in mind some points while implementing self-service. In her article, Jodi Beuder (Customer Experience Advocate at Impact Learning Systems), writes about those points which are to be kept in mind while rolling out self-service. To know more, follow: http://www.icmi.com/Resources/Self-Service/2014/09/The-Roadmap-for-a-Successful-Self-Service-Rollout

 

 

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Smart Process Applications: A Study

Jonathan King (Vice President of Technology at K2) writes in his article that a new group of applications has emerged to meet demands, and therefore, making it easier to support business activities. They are called Smart Process Applications - or SPAs. In a recent AIIM study supported by K2, it was found that information professionals weighed in on the capabilities of SPAs and eighty percent reported that automated classification, recognition and routing of inbound content would helpful for their business. To know about SPAs, follow: http://www.icmi.com/Resources/Customer-Experience/2014/09/Improving-the-Customer-Experience-with-Smart-Process-Applications

 

 

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