How do Multi – Level IVR Solutions Maximize your Business Revenue?

March 2, 2022
IVR Solutions

Revenue is the dominating factor for the sustenance of any business enterprise, irrespective of whether it’s a start-up or an already established corporation. Revenue growth is directly proportional to the overall growth of the company. Customer relations and communication can directly impact revenue growth, for which reason companies take special interest in tools that can give a boost to these factors. While considering customer relation, Customer Relationship Management (CRM) software prove to be an effective tool in building an operational, collaborative and analytical bridge between the customer and the company. Similarly, taking into account the communication division, cloud telephony solutions take the lead as the technological breakthrough which shifts your business into the cloud and expediates complete wireless cost-effective & quick communication system for the customers, partners and your employees to connect with the company.

Multi-Level Interactive Voice Response (IVR) solution is one of the most sophisticated and cutting-edge features of cloud telephony services which allows customers to have fundamental interactions with a computerised telephony system making choices through voice or touch–tone dialling going through numerous stages of input so that they can be routed to the accurate department or offered the precise solution to their issue. Due to the multiple stages of input, multi-level IVR solutions help prepare a customer database for each call received, which eventually helps explore potential leads for various product/service sales and even categorise an elite customer base from impulsive or need-based customers. This database can help further determine the revenue relevance for each customer and the business approach towards each of them.

To better understand the application of a multi-level IVR, a comprehensive perception of the interactive voice response system is much needed and advised.

Here are a few ways to ensure business revenue maximisation while using multi-level IVR solutions.   

1. Self-Sustaining Multi-Level IVR Automation :–

The true beauty of automation can be displayed in the workings of a Multi-Level IVR. As discussed, a multi-level IVR solution lets the customer get their queries resolved by pitching them multiple-choice questions and appropriate options to choose from so that they can input their issues with the automated system; in turn, according to the algorithm of the IVR, it suggests the best possibilities and solutions for the customer. Customising the IVR software simplifies checking availabilities for bookings, placing orders, the status of orders, arrangement of callbacks and many more provisions. The personalisation of the IVR solutions according to the customer’s need can immensely impact the increase in sales profits. Customers need not wait too long to get to an agent to ask them a simple question regarding the product/service they are interested in and can avail of the IVR anytime, 24×7.

2. Easy Research Trail on Customer Base & Audience :–

Business marketing hinges on researching the customer base & the target audience to determine the purchasing needs & preferences. Feedbacks and surveys provide invaluable knowledge about customer behaviour, need, inclinations and choices. Multi-level IVRs assist in conducting IVR surveys about your service/products, their experience, betterment of the product/service, relevant offers & discounts, recommending your company to their family and friends, etc. It becomes extremely easy to dole out what approves with the existing customers and what clicks best for potential new leads, after which sales propositions can be made effortlessly and as the sales inclusion rate increases, so do the revenue. With the advanced option of prioritising and personalising the IVR system, you can also change the questions and use the same number with a few minor changes for a very different promotional or feedback campaign, which ultimately saves a lot of money for the company. The cloud IVR solution offers great flexibility and high response rates when feedback and survey modes are in question.

3. Prioritizing Valuable Customers via Multi–Level IVR :–

For a customer-oriented business enterprise, there can be various customer interactions. Based on the revenue production, the customers can be divided into five types such as loyal customers, who might be the minority customer group but help in generating the largest portion of the sales; the discount customers, who might be engaged constantly but whose buying decisions are based on markdowns, the impulsive customers who do not have a specific pattern in their purchase but can contribute significantly to the revenue, the need-based customers who are prone to buying specified products/services and finally, the wandering customers who are never sure what they want, out of all these types of customer base, the loyal customer base as they add extensively to revenue growth and are highly profitable. Highly profitable customers should be prioritised as they possess a greater percentage of the revenue. The multi–level IVR system can be customised to prioritise these loyal and profitable customers and maximise their customer experiences. The IVR solutions also optimise profitability by allowing the rest of the customers to complete their orientations.

4. Constant IVR Availability in Absence of Manpower :–

Human resource is invaluable to a corporation. However, maintaining manpower availability after office hours and during holidays can be too costly and upsetting. But it becomes unfair to sacrifice the company’s growth due to the unavailability of resources and point of contact. This situation can be easily eliminated by the introduction of the IVR system. The need for a dedicated receptionist is also removed with this feature of cloud call management solution and callers can directly interact with the automated version and get their queries resolved quicker.

5. Smart & Optimized Call Routing with Multi-Level IVR solutions :–

Although interactive voice response is a glorious substitute for small queries and quick problem resolutions, no technology can replace humans when dealing with sales’ emotional aspects. The multi–level IVR solutions also helps re-route the calls to the proper desk in such cases, which eventually proceeds towards successful sales transactions.

Related Posts