Benefits of integrated Content Management for Retail

Fierce competition, fostered by the necessity for shoppers to go online during the consecutive lockdowns across the globe, calls for key differentiators and operational excellence for ecommerce, marketplace, and classified ads platforms.

These now well-established players, ruffled by constant newcomers, aim to provide the lowest prices to their customers, but low profit margins do not allow them to always reach a lower selling price than their neighbors. Another key pillar for them to stand out is offering an even smoother online user experience. But how is it possible for the users to live an experience that is comparable to an in-store purchase, once they have been attracted to their website?

At first, Content Management seems to be a relatively simple concept, especially when applied to retail: it is important to have consistent information on products shown to the clients, in the right place at the right moment. If a customer is not able to find it on one marketplace or ecommerce platform (this can also happen to classified ads, to a lesser extent), but they are able to find it on a different one selling it for a similar price, they would not bother returning to the original website to make that purchase. Therefore, it’s important to retrieve all product information from different sources by skilled and industry-specialized content managers who are also able to run promotions or discounts, update prices, and take down sold-out products. This is what is commonly called catalog management.

This enables retailers to be efficient at organizing their products by ensuring consistency and quality information is displayed across different channels. Moreover, the combination of dedicated software with skilled content managers facilitates a collaboration between the advisor and retailer for a smooth online experience.

These three software tools significantly refines this whole process:

  1. Digital Asset Management: These tools will help different teams across an organization to easily operate together in an organized way, and modify media files such as images, documents, and videos.
  2. Product Information Management: They centralize the details that customers, platforms, or employees need to know about the products they are selling.  Syndication allows the data to be shared across all sellers, channels and languages. Managing it well is a lever to the localization of your catalog.
  3. Content Management Systems: These are essential to create consistent online user experiences. Their collaborative features support the organization of workflows and queues, as well as the ability to create, store, edit and publish web content. Moreover, they allow to put this online content into context.

With the three of these software tools combined, it is possible to offer a smoother online experience that is closer to in-store. It facilitates teams to have an exact idea of their stocks, a close connection to their CRM, and flawless ad equation between online and offline stocks for the whole organization. By using this data, it enhances the customer experience by being able to analyze and forecast trends.

The three immediate impacts:

  • It is possible to show more relevant recommendations to any specific customer
  • Avoids huge disappointments when a product that was displayed as available on the website – has just been sold or ordered in a shop
  • The retailer is able to have an integrated view of the performance of its products to then act upon it.

Automation and tools play a critical role in this process, but reactive content managers with the ability of retrieving information in an ad-hoc manner if the software is missing information is key, as one will not be able to work as efficiently as you would want it to.

This strategic stock management, that can only be allowed due to integrated Content Management, can be pushed even more when a retailer is present across different markets with different languages. To offer a best-in-class experience, customers need to feel close to the company’s values, which are mostly embodied by marketing strategies and the salesperson who is selling the product to you in a shop.

Online, this can be done through an accurate localization plan following trends analysis, based upon which digital asset works, in which context (placed by the content manager at the right time).

Thinking about its Content Management strategy as unified and collaborative, making use of the right combination of tools and the right people to enact it, is a lever to gain competitive advantage in a space that is getting more and more saturated. Consumers are searching for companies they resonate with, that are capable of not only understanding their needs but also predicting them.

The link to CRMs makes even more sense when the retailers know that a product lifespan is about to reach its end, and then offers to renew its purchase for example. Those smart ways of engaging with customers, which can only be facilitated by integrated Content Management – should be the go-to for any online platform aiming to remain competitive in the market.

Finding a partner like Webhelp, who is conscious of the different technologies available on the market and is able to find, train and nurture the right profiles that fit to your brand, with the ability to develop your digital strategy, is becoming more important than ever. Whether you are a retailer selling your products across multiple platforms or you are a platform yourself.

Talk to us today about how Webhelp’s Digital Content Services can help you deliver best-in-class online experience to your customers through designing the best mix of technology and people.


 

Author

Thomas Japy

Digital Content Services Business Analyst

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KYC

B-Case – How does a bank manage KYC in a B2C marketplace… by using a non-dissuasive process?

Webhelp KYC bank

Webhelp supported a major international bank to manage all financial flows for its B2C marketplace customers through its specialised internal electronic money institution. Webhelp KYC Services carried out the entire vendor identification and onboarding process : a solution that means it was able to validate more than 10,000 vendors worldwide in just a few months.

This bank’s B2C marketplace customers offer their platform to thousands of vendors from around the world.

  • This sector of activity is regulated by the Sapin II law, which targets money laundering and financing of terrorism. Non-compliance fines are on the rise and are expected to exceed $400 billion by 2020 in Europe and the US.
  • This regulation requires that sellers and beneficiaries must have been formally identified by a KYC procedure (Know Your Customer) before they can operate in the marketplace.


The bank
 does not have an international task force to manage the KYC vendor registration process in the marketplace.

  • Legal constraint: where the vendor is a legal entity, beneficiaries must be personally identified when registering and then periodically as soon as they hold more than 25% of the capital.
  • The specific language and administrative requirements of each vendor’s country of origin must be taken into consideration.
  • Each country has its own specific requirements regarding connections to administrative databases.
  • Procedures for identifying and onboarding vendors must be fast and efficient enough not to be dissuasive, and reliable enough to comply with regulations.


In order to manage
 complex, multilingual and multi-country KYC procedures, Webhelp KYC Services has developed a project methodology that was rolled out in seven weeks. The organisation is based on five simultaneously processed areas: data collection (HMI), exchange security, APIs, acceptance rules, and management of reminders. Using our multilingual KYC hub, KYC identification operations can be managed in over 40 countries and in 15 languages. This takes into account each country’s specific administrative requirements and the KYC validation practices particular to the ordering parties. Generally speaking, only 55% of onboarding files are complete the first time around: Webhelp KYC Services uses a reminder program to optimise file completion.

The +: Onboarding a new vendor takes just a few minutes. Additional human verification, when necessary, is carried out in under twenty four hours.

“Unique in the market, our People & Solution procedure combines two components: a dedicated technical platform and multilingual operators trained in KYC verifications. It makes it possible to operate a multilingual, multi-country KYC service with a file rejection rate of less than five per cent.”

Hervé de Kermadec, president of Webhelp KYC Services


Read the 6th edition of our OneShot magazine on Social Engagement

Our 6th edition of the OneShot is here!

Download your OneShot Magazine

Tick tock tick tock…

Time is ticking away – now is the time to start focusing on social engagement.

Social commitment means becoming aware, but above all, taking action and standing up for inequalities.

Taking action can be as simple as these recipes to be: more human, more green, and more equal. Not only are these good for you, but for others too.

Compelling your company to pledge and commit in the fight for social and environmental changes, such as the global warming crisis or social justices and equalities – are vital steps to take now for a brighter future.

And it all starts with knowledge. So, here’s to your learning with the latest edition of the OneShot.

Dare to be ‘woke’ and be a driving force for change?

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OneShot - Three opinions

Hervé Rigault, Director General for France of Netino by Webhelp

Herve-Picture

The notion of a key opinion leader is coming back into fashion. Previously, this role was held by journalists, speakers, analysts, etc. Yet, on the one hand, journalists no longer have the time to do research and, on the other, many experts lack neutrality. This is because influencers have learned to establish themselves with solid audiences, mainly thanks to blogs and curation, but also thanks to social media. This phenomenon is seen in both B2C and B2B. LinkedIn’s recent and considerable development, for example, is a result of its transformation: this social network has become a very influential social media platform. So it is no longer enough to be an expert to become an influencer; you have to have a vision, a certain talent for expression, a taste for sharing, a dynamic network, etc. Brands can profit from it, through attentive listening.

 

Jérémy Rodney, Head of Digital Content & Social Media Bouygues Telecom

At Bouygues Telecom, influencer marketing started in 2013, with 4G. We had to spread the word about its high data speeds, relying on the power of recommendations from a few influencers. First we targeted gamers, big bandwidth consumers and their subscribers. Today, the use of influencers is ingrained in our media campaigns. We don’t use nano-influencers, they are too complex to manage with our services and products. When we have a reach objective, we look for macro-influencers. And to find more engagement, and oproduce original content, we work more and more with middle or micro-influencers. Adults, parents, seniors, etc. All age ranges are represented; the palette of influencers has become very large and diverse.

 

Jeroen Dijkema, CEC Cluster Lead Europe Unilever (Rotterdam)

Unilever has a vast galaxy of agribusiness brands of international renown. Some of these brands have strong local ties. On an international or local level, we reach out to influencers with three goals in mind: to develop brand reputation, deliver messages on specific brands and test certain new products. The authenticity of these influencers is a criteria for selection, since our products are built on data that reflects the needs of the consumer, but they are also a societal goal. Mainly on Instagram and Facebook, we reach out to macro or micro-influencers.

Read the full article

Recommerce

Recommerce on the surge: Why second-hand stores are booming

Why is recommerce on the rise? And why are marketplaces such as VINTED, thredUP or Poshmark thriving in this business model? Is it just trendy, cost effective, sustainable or a mix of all these that explains the current surge? Tomorrow’s personalization and customer journeys are expected to be even smarter, more immersive, more trust-enabling than they are today. The question is: Are brands and consumers ready? Here is an analysis from Olivier Carrot, Global Business Unit Direct, Retail & E-commerce.

So which are some of the factors that have contributed to this increase?

  • Rise in the use of mobile devices. The accessibility of mobile devices globally has essentially contributed to the growth of e-commerce thanks to the increased reach which has consequently increased the sales. According to Aaron Orendorff – Forbes Top 10 B2B Content Marketer, e-commerce has helped businesses launch beyond borders reaching out to millions of new potential customers. By 2023, an increase of 276.9% in the total global sales in retail is projected with APAC taking the lead (source: shopify.com).
    The easy accessibility of mobile phones and internet has definitely elevated the demand of recommerce as a service. This surge has seen many start- ups joining the bandwagon to not only meet the growing demand but also to take advantage of the efficiency and scalability that marketplaces provide.
    Through the creation of an application that links second-hand products to customers, VINTED has grown from being owned by its two co-founders Milda and Justas to an organization that employs more than 450 people and unites a community of 25 million people.
  • Personalized customer experiences. In reference to platforms like VINTED, personalized services that match customers preferences are highly sought after. Customers want to feel valued and there is no better way than to offer a personalized experience. Even though many consumers are in search of products being offered at discounted or affordable prices, they will not compromise on the experience. Brands are thus competing not only on price but also on offering the most memorable experience to their customers.
  • Old is new again. Founded in 2009 as a swapping company for men’s shirts’ thredUP is a huge consumer marketplace that flaunts over 35,000 brands. In one of his keynotes, CEO and co-founder James Reinhart forecasts sales of upto $51 billion from the second-hand apparel market by 2023 (source yahoo.com)
    In reality, people buy twice as many clothes and wear them half as long. If one can buy a branded item for half the price of the new, why not? There is a growing trend to transform consumption through reuse. And so as to keep up with the changing environment in the retail industry, integrating a resale option in traditional retail outlets is seen to boost the overall sales. Customers are sparked to spend 21% more and visit 70% more frequently. James attributes the massive increase in the visiting percentage to the fact that second hand collection is restocked every two weeks whereas in the traditional format, new collection arrives between four to six times a year (source: www.thredup.com)
  • Cost friendly. Pocket friendly purchases is a big driver in the recommerce boom. Customers are increasingly seeing the value in buying recycled brand-name products for huge discounts. “Recommerce has seen a tremendous upsurge” says Steven Bethell, founder of Bank & Vogue – a firm that specializes in the logistics of selling used goods and operates a sister company called Beyond Retro. Prior to making a purchase, many shoppers aquent themselves with the resale possibilities of items they wish to buy with the plan to resell them in the near future. The retail industry is seeing a continued shift with the majority of consumers shopping smarter.
  • Sustainability. The new affluent generations like the Gen Z are more environmental and social conscious and as such, they expect brands to be more ethical and sustainable in their production processes. Fashion brands that have this audience as their customer base, are obliged to revamp their business models to be able to not only attract but most definitely also retain this segment.
    VINTED is one such brand. By investing on its brand ethos which is providing a platform for purchasing and selling of second-hand clothes. These clothes reduce the environmental impact of Co2 levels that are usually released in the production of new clothes (think water, chemicals, fertilizers and pesticides). In addition, it prolongs the shelf life of clothes that would otherwise head to the dumping sites in one or two years. It’s estimated that 600 kilograms of used clothes would lead to a reduction of 2250 kilograms of Co2 emissions, 3.6 billion liters of water saved, and 144 trees planted. (www.smartgreenpost.com).

At Webhelp, our clients are at the heart and our core objective is to ensure that their customers experience world class service in every touchpoint. The creation and upholding of a sustainable environment also go hand in hand with what our company stands for.

In our endeavor to always provide seamless interactions, we go the extra mile to guarantee that customers’ needs are met. We focus on making the purchase process in the marketplaces as simple and fulfilling as possible 

Our flawless and memorable customer journey from order management to returns and replacements is swiftly executed with our dedicated service specialist who are located globally in the different hubs. 

And thanks to the booming second-hand industry, content management and moderation is also on high demand. Ever thought of outsourcing your content moderation? Our highly experienced offshore content moderators ensure that our clients’ brands are duly protected across their target audience. We support our clients’ to not only maintain their brand integrity, but also to shield their customers from inappropriate, aggressive or illegal content.  

Are you looking for an experienced partner who will help you take your marketplace to the next level? Get in touch to receive your tailormade solution: Olivier Carrot.


Taking a human centred approach to cyber security

In response to the evolving cyber challenge in the post-COVID-19 landscape, James Allen, Chief Risk & Technology Officer for the Webhelp UK Region, considers the way that risk in customer service has evolved and reveals the steps Webhelp has taken to protect its clients and people, with a human centred approach to cyber security.

The humanitarian crisis brought by COVID-19 undoubtedly caused rapid and universal disruption to businesses across the global stage; impacting economies, and leaving some companies struggling to maintain business continuity, whilst increasingly vulnerable to unscrupulous cyber criminals.

In fact, the Council of Europe’s Cybercrime division has reported evidence of a substantial rise in malicious activity (specific to the topic of COVID-19) in areas like phishing, malware, ransomware, infrastructure attacks, targeting teleworking employees to gain system access, fraud schemes (fake medicines and goods), misinformation and fake news.

In July, Action Fraud, the UK’s national reporting centre for fraud and cybercrime, published that victims had already lost over £11 million to COVID-19 related scams.

Consequently, the pandemic has put an intense spotlight on personal cyber practices, especially as working from home (without proper measures) can create more risk than the traditional controlled office environment. Similarly, Tech Republic reported that, from phishing attacks to malware, 71% of security professionals have been recording increased security threats or attacks since the COVID-19 outbreak, and as a result many countries and companies have been spurred into rapid action.

In the UK more than 80 coronavirus-related phishing and scam websites were taken down in just one day after the UK’s National Cyber Security Centre (NCSC) asked for the public to report suspicious emails. Existing takedown services, in one month alone, removed more than 2,000 online scams related to coronavirus, including 471 fake online shops, 555 malware distribution sites, 200 phishing sites and 832 advance-fee frauds. NCSC chief executive officer Ciaran Martin believes that the rise in technology use is making online safety more critical, saying:

 “Technology is helping us cope with the coronavirus crisis and will play a role helping us out of it – but that means cybersecurity is more important than ever,”   Source: Zdnet.com

 And, according to PWC, 80% of UK CEOs are concerned about the risk of cyber threats to their business, it is the issue they are most worried about, above skills (79%) and the speed of technological change (75%).

Revealingly, just under half of UK CEOs (48.4%) have taken some action regarding their own personal digital behaviour, including deleting social media or requesting a company to delete their data.

This is a worrying trend, which was noticeable even prior to the current crisis, as (according to the U.S. Securities and Exchange Commission) 2019 saw a 350% increase in ransomware attacks, a 250% increase in spoofing or business email compromise (BEC) attacks and a 70% increase in spear-phishing attacks in companies overall.

Furthermore, the average cost of a cyber-data breach rose from $4.9 million in 2017 to $7.5 million in 2018. Likewise, worldwide spending on cyber security increased by over 20% during 2017-2019 ($101Bn – $124Bn) and inevitably these costs will continue to rise, but without addressing the human behaviours contributing to this trend, much of this investment could be wasted.

And behaviour change is the key, as research firm Proofpoint revealed that a staggering 99% of threats observed relied on human interaction like enabling a macro, opening a file, following a link, or opening a document – highlighting the role of social engineering in enabling successful attacks, and the importance of knowledge as the top factor for prevention.

A recent FirstData study revealed that 60% of individuals are currently concerned about online security, and feel the need to do more to protect themselves. But information on how to do this is clearly absent, as over a quarter of those asked were entirely uninformed about the subject.

We know that the pandemic has led to record numbers of individuals now working from home – often without prior knowledge and experience of safe remote working practices and the potential security risks.  And, this situation is complicated by the fact that too often companies publish complex security policies, which are difficult to understand for the regular user.

As a people-first company, Webhelp is committed to a human centred approach to Cyber Security, aiming to provide all our people with the essential skills to keep them and their families safe online.

From the start it was clear that education was critical to delivering this goal. We recognised a need for clear and simple guidelines, put forward in an engaging and easy to follow manner, to help employees gain insight and confidence in recognising and protecting themselves against potential scams and take action when approaching cyber security.

So, in 2020 we launched our Cyber Super Heroes Campaign, designed to make complex security advice simple and accessible to all colleagues. This campaign talked to these issues in a humorous yet informative voice, and our activity has accelerated to support our colleagues through a time when cyber threats were increasing.

Focusing on a different topic every fortnight, guidance has been delivered across multiple channels including on site, email, social media, the employee intranet, desktops and screen savers and by using digital animations and posters.

Our people were also given the opportunity to get involved by becoming a Webhelp Cyber Superhero, through signing up for in-depth additional information to better champion the cause to their teammates and families.

The campaign has covered a full spectrum of cyber security topics including:

  • Phishing
  • Safe Passwords
  • Physical Security, both at work and at home
  • Keeping safe online
  • Social Engineering
  • Malware
  • Social Media
  • Keeping kids safe online
  • Safe Online Banking
  • Keeping your devices secure when you’re out and about
  • Cookies

Finally, to add a truly human face to our campaign, personal stories from volunteers in our business were shared. Colleagues were extremely keen to highlight their experiences and offered heartfelt advice to their colleagues, with the goal of really delivering a relatable message that Cyber scams can and do happen, and that together we can make our online activity safer, both in our workplaces and in our homes.

However, the work doesn’t stop there as Head of Cyber & Privacy for Webhelp UK Region, Chris Underhill, explains:

“The cyber threat landscape is constantly evolving, requiring businesses to monitor threats, adapt to change and deal with incidents swiftly. As part of my new role in Webhelp, I will be supporting our international teams and clients with cutting edge cyber intelligence, training, technology and consultancy services that not only help secure organisations against a growing number of threats, but also provide professional, certified level assurance to help secure business as usual against a backdrop of regulation, uncertain times and new working conditions.

 It’s clear that threats facing businesses extend well beyond the network perimeter and a move towards a new ‘human centric’ approach to cyber security is required to protect critical assets from compromise. Webhelp are committed to supporting our teams and clients using the very best in technology and educational programmes that will provide a robust suite of solutions across the industry.

Agility and innovation in risk has been crucial to managing the pace of change during the pandemic, so despite the challenges brought by COVID, fear must not stand in the way of progress. This is something that will be explored further in a forthcoming blog for the #servicereimagined series.

 

To discover more about customer service models post COVID-19 read our new Whitepaper, a joint publication with Gobeyond Partners, part of the Webhelp group, on Reimagining service for the new world which is underpinned by our unique industry perspective alongside new research to discover the operating models of the future.


OneShot #5 - Influence

Our 5th edition of OneShot is here!

Download your OneShot magazine

Following the unprecedented situation of the COVID-19 pandemic, numerous companies have been forced to make vital adjustments to stay afloat and also guarantee business continuity. Our interesting reads also include:

A Word: KOL – Key Opinion Leader
A Number: 10,000 subscribers and no more
Three Opinions: Influence: How to get your messages across?
One News: TikTok supports its position in Europe
A Demo: The dark social
A B-Case: How Webhelp’s KYC participated in securing a platform by Bpifrance
A Hashtag: #TrustYourInfluencer
An Offer: MyStudioFactory
An appointment: Conversation 2020, Paris
A Conversation: How to restore confidence in the time of fake news?
A Story: Santa Claus, citizen of the New World

Read all about these exciting and thought-provoking topics in our 5th edition of OneShot.


Reimagining Service: retail spotlight

The existing retail transformation agenda has been radically altered. And, while doors are now reopening following what could be the toughest ever period of trading, it is clear that the sector has been hugely impacted by the current crisis.

Many bricks and mortar stores (and even entire portfolios) are still teetering on the brink, so reduced footfall coupled with social distancing measures may render them un-viable. Government intervention may help in the medium term but, as cash reserves dwindle, insolvencies and consolidation will rise.

For multichannel retailers, digital growth has helped to subsidise bricks and mortar revenue. However those behind the curve on the digital agenda will suffer the most, with w-commerce and mixed model adoption (like click and collect) becoming a huge priority. Emerging winners will need established robust digital channels, a modern and scalable attitude to customer service, and have less exposure to costly store portfolios.

What's next?

Brick and mortar focused organisations will have to work much harder for success, as profit margins decrease. Options include undergoing restructuring, investing in omni-channel approaches, or exploring experiential outlets. But, ultimately, retailers must understand how to recreate brand and human experiences digitally.

Obsolete legacy retail teams must merge with digital teams for the benefit of the consumer and, importantly, new digital should not be layered onto an outdated operating model or “broken” customer journeys. Ideally, companies should be rethinking their new world customer experience from the ground up.

Delivering a seamless, consistent service through a blended home/office model will be a difficult balance to strike, especially as moving forward employees and customers will become less forgiving. So, being human and transparent has never been more important – but a laser-focus must remain on performance management and repeatable customer experience, irrespective of location and model.

This may be a tall order for those retailers with limited transformation funds, already reeling from the current shock. However, the first lesson in retail is to begin with a deep understanding of your customers: harnessing existing data and insight and ensuring that expertise and exemplary practices are in place when building new journeys, will be the best starting point for retailers to succeed on their digital journey.

To discover more about customer service models post COVID-19 read our new Whitepaper, a joint publication with Gobeyond Partners, part of the Webhelp group, on Reimagining service for the new world which is underpinned by our unique industry perspective alongside new research to discover the operating models of the future.

 


How AI and data analytics can support vulnerable customers

Well before the COVID-19 pandemic began, the identification and protection of vulnerable customers was a significant focus for companies and regulators. Here James Allen, Chief Risk & Technology Officer for Webelp UK Group looks at the impact it will have, now and in the future.

In these testing times, the identification and protection of vulnerable customers will now assume even more importance as organisations work on proactively recognising customers who need assistance, prior to the predicted surge in demand for financial support - as aids like employee furloughs, payment holidays and credit schemes end.

Worryingly, prior to the outbreak over half of the UK population were already financially vulnerable, with one in six people unable to cope with a £50 increase in monthly bills, according to a survey of Britain’s personal finances by the City regulator. The Financial Conduct Authority’s biggest ever survey of households found that 4.1 million people are already in serious financial difficulty, falling behind with bills and credit card payments, with 25- to 34-year-olds the most over-indebted.

Furthermore, 50% of adults (over 25.6 million people) “display one or more characteristics that signal their potential vulnerability” and just under 8 million are over-indebted.

And this is not limited to the UK, as the 2019 Prosperity Now Scorecard finds that forty percent of American households lack a basic level of savings and don’t have enough savings to make ends meet at the poverty level for three months if their income was interrupted. Almost half (48.1%) of Americans with credit had scores below prime and 20% of households had no credit in the past 12 months and were likely to be without access to it.

Furthermore, a report from the ING Group states that southern European economies like Italy and Spain are especially vulnerable to the economic effects of COVID, exacerbated by the importance of tourism which accounts for at least 13% of GDP and about 15% of total employment. They also have a larger share of vulnerable workers and a higher chance of bankruptcies due to firm size.

However, throughout all this we must remember that vulnerability can be a temporary and fluctuating status, with many causes, including mental health, dementia, changes in employment and personal circumstances, literacy, numeracy and socioeconomic factors.  It is key to use technology to help people on an individual basis, never forgetting that unique set of circumstances they may be experiencing.

Plus, regulators will be keeping a close eye on these new developments, and the pressure may soon be on firms to use all available routes to safeguard customers and prevent the global financial crisis from deepening.

So the question for many global companies has become, in the post COVID world, how do we identify and support customers who are financially vulnerable, without compromising operational efficiency?

And this is especially important for us at Webhelp, as we carry a people-first commitment and our think human value through to the customer base of over 32 clients in the UK, India and South Africa.

It’s clear that data analysis and artificial intelligence (AI) is already changing the way that companies offer support to their most vulnerable customers, and that this may play a part in reshaping the regulatory landscape. While establishing if someone is vulnerable and how best to support them is a very human judgment, at Webhelp we believe that sensitive and careful use of data, using AI to segment, can help direct the right customer support teams to the right people, spotting potential issues before they become a problem.

We combine the very best in technology and skilled people to create the best outcomes, as Chris Bryson, Webhelp Global Data & Analytics Director explains:

“We’re helping clients leave no stone unturned to reveal customer vulnerability. Whether customers tell us directly that they’re experiencing issues, or if they show characteristics of someone who can be vulnerable; using analytics from customer contacts and records helps us and our clients see those signals clearly.

We use our own unique speech and text analytics engine, which is applied to advisor and automated customer conversations. The resulting Voice of the Customer analytics drives constant improvements in the way we measure quality and enhances the overall customer experience.

As a result, we can help our clients to spot vulnerable customers who would otherwise slip through the net. At the heart, it’s about helping our advisors to better support that customer, and working with our clients to ensure they are recognising these signs of vulnerability.”

By using this insight, and access to the best analytical technology, and to the right people to put this in action for the greater good, we can confidently move forwards and create a better financial environment for both clients and customers in the future.

To discover more about customer service models post COVID-19 read our new Whitepaper, a joint publication with Gobeyond Partners, part of the Webhelp Group, on Reimagining service for the new world.                                        This aims to address these crucial questions and is underpinned by our unique industry perspective alongside new research to discover the operating models of the future.

 

 

 


How AI is changing the retail experience

As part of our #servicereimagined series, Helen Murray, Chief Customer Solutions Officer for the UK Region, looks at how Artificial Intelligence is influencing the retail sector, how it is being used to leverage new customer service models and why brands must evolve to embrace this unstoppable wave, or risk falling behind the curve.

Whilst I love a good movie, the fictional relationship with Artificial Intelligence (AI) is not a happy one – and almost universally results in a troubled experience for the human! The silver screen, and latterly the internet, often warns of the dangers of pitting man against machine, but in reality AI has seamlessly, quietly and unobtrusively embedded itself into our daily lives.

AI shares our homes, guides us when we travel, takes our selfie when we socialise and influences our retail and leisure activities, and it may well have become the most indispensable tool of the 21st century.

Beyond the media tropes, today AI is firmly focused on problem solving, by making millions of decisions at a basic level without human intervention. Machine learning allows processes to adjust to new inputs, and avoid pitfalls based on experience. Essentially it uses multi-layered data analysis to predict patterns and, in some cases, to uncover and direct customer behaviours.

It is much simpler, more benign and much, much more useful to business than its movie counterpart.

Dave Pattman, Director of CX Services at Gobeyond Partners, part of the Webhelp Group, sheds some light on this when he says;

“Whilst AI is everywhere, most experts agree that business is currently using the narrowest point in the definition, by enhancing brand delivery with mathematics, statistics, machine learning, deep learning and big data. However, even in its simplest form AI is making a radical difference, and is visually in our daily lives in our smart home device functions, autonomous vehicles and predictive text.”

 “AI solutions are being developed in a broad range of sectors, and will inevitably be used for common business tasks like auto classification and recommendation services, which will streamline operations and drive revenue. However, the real benefit will come to those business that combine next level AI technology with the right skilled personnel – and use this to stimulate and track consumer emotions!”

But what does AI mean for retailers?

Both physical and virtual retailers could see a benefit of integrating AI into their processes, to improve task management and customer insight. As we reported in our blog on the future of retail post COVID-19, shoppers will be looking for a more experiential real journey, and traditional brick and mortar enterprises will have to work harder to compete. As the storefront.com magazine reports:

“Brands need to reimagine the total in-store experience, and technology is key. In-store technologies must be able to solve business processes and incorporate planning and strategy, rather than just implementing flashy, PR-driven technology. It’s crucial that retailers effectively merge technology and function, which is why AI is at the forefront of in-store tech.”

However, I believe that it is in customer service management where AI has the most significant potential for change, gathering detailed customer patterns and preferences, capturing both short term consumer market fluctuations and informing longer term business planning.

As AI grows more and more prevalent, at Webhelp we are also exploring language processing for the purposes of automation, as Chris Bryson, Webhelp Global Data & Analytics Director explains:

“The direct interaction between customer and machine is allowing us to analyse conversations, at scale, and to make recommendations. We have developed own speech and text analytics engine, which we apply to agent and automated customer conversations.

At Webhelp, this is deployed to drive efficiency in our measurement of quality and to create CX improvements through actionable Voice of The Customer analytics”

When intelligent algorithms are used to process customer and sales data, there is a wealth of actionable and valuable information to be discovered. Intelligent chat bots, voice analytics and word recognition are also changing the game for retail customer service. And, as David Turner, Webhelp CEO for the UK region, Webhelp are at the forefront:

“We have already made significant investments in our digital and automation capabilities to help clients improve customer experience and reduce costs using digital self-service, and leverage technologies such as chatbots to reduce volumes of non-complex and low value interactions. At the same time, we are identifying where human support adds value to digital experiences. Providing guidance and support to customers during high value, complex and emotionally important journeys.”

These technologies are unavoidable, and brands must learn how best to use them to their advantage, as Craig Gibson Chief Commercial Officer Webhelp UK recognises:

“As the urgency for change and transformation intensifies in the post COVID landscape, some pivotal questions will be raised: How different will service look and feel in the future? How will businesses and their operations need to adapt? And how can employers engage and support their colleagues to deliver on new customer promises?”

To discover more about how to leverage customer service models in this new world, I would suggest that you read our new Whitepaper, a joint publication with Gobeyond Partners, on Reimagining service for the new world, which aims to address these crucial questions and is underpinned by our unique industry perspective alongside new research to discover the operating models of the future.