Today, we’ll be sharing an excerpt from our newest ebook, a 2.0 version of our original Sales Performance Gap ebook, which looked at the four critical behaviors sales reps should perform and improve upon to drive sales and success in the contact center.
In our new and improved ebook, How Customized Strategies Drive Dependable Sales Performance & Outcomes, we analyzed over 6 million conversations – up from 340,000 in our first Sales Performance Gap eBook. Cresta’s proprietary generative AI prompts agents in real time to perform behaviors, and then tracks if those behaviors are performed. Based on the opportunity to perform these behaviors, the agent following through with them or not, and the corresponding business outcome, we calculate the KPI impact of performing these pivotal behaviors at the right opportunity. Read on to learn about how this impacted four leading businesses.
A top five bank in the US wanted to increase promises-to-pay (PTP) in highly delinquent collection claims
Powered by Cresta’s generative AI, one of the five largest consumer US banks had built out processes to guide their collectors through the negotiation and collections process with customers, but found that oftentimes, collectors were not adhering to the playbook when engaging clients.
They further discovered that in cases where claims were three or more cycles past due (highly delinquent), assuming a promise-to-pay – their default behavior – from cardholders for the full amount was far less effective than negotiating payment and taking a more nuanced approach.
Over the course of 90 days, agents who followed a “negotiate payment” hint by asking “how close can you come?” achieved promises to pay 30% more frequently than agents assuming the cardholder could pay the full amount due.
This subtle shift in agent behavior – which also engendered a culture of empathy and relationship-building with clients – had tremendous implications for the business. Now, rather than charging off these highly delinquent claims, the team was able to collect on the claims.
One of the largest telecommunications companies in the US drove higher sales and conversion rates across critical KPIs
The company discovered that agents who follow prompts to assume the sale have average conversion rates nearly 5% higher than those who do not follow the behavior.
But the results are even more compelling when exploring a level deeper. When agents follow prompts to upsell phone accessories, the average accessory revenue per chat is $9.77, compared to $3.69 if they don’t perform the behavior – over 2.5x the revenue.
Similarly, when the agents follow hints to cross-sell the organization’s home internet offering, home internet sales are made in 3.3% of conversations; if they do not follow the hints, home internet sales convert only 0.5% of the time.
And to ensure that agents face no unnecessary roadblocks in performing this behavior, Cresta includes personalization through an integration to identify who ‘qualifies’ for home internet based on address eligibility.
To read about how two other leading companies transformed their contact center operations and outcomes through Cresta’s real-time generative AI and to learn how to apply these learnings to your organization, download our ebook now!