The fundamental question which drives all business is did my customers have a good experience today. The bigger your enterprise gets, the more difficult it is to determine. ResponseTek holds the entire organization accountable on a minute-by-minute basis to ensure customers get the experience they are promised. When this doesn’t happen, you get big churn rates – which can be as high as 20% in the telecom sector.
ResponseTek connects every customer and transaction point via NFC, IVR, email and text messages so companies can get instant feedback according to Syed Hasan the CEO of the company who spoke with me at MWC 2014 in Barcelona.
He continued by saying companies have to stop looking at customers as averages. He said he doesn’t know any person which is 72% happy with a company – in other words, a cumulative score doesn’t do it, we need indivual metrics, especially in the age of social media where one customer can have an audience with many others.
“We are connecting 250M consumers at 30 carriers in real-time to their carriers to determine what service level they are receiving,” he exclaimed.
Hasan continued by saying that corporations don’t want you to know they think of you as an average. Continuing, he told me this is a problem for consumers as well as the front-line workers. When a manager says they want better quality, the front line has to ask for which customers? in other words, they aren’t able to get results from all people who were communicated with that day.
ResponseTek allows every customer to become a data point – not an average. And this information goes to the front line allowing instant improvement. Front line workers can now react in a more proactive manner having access to instantaneous feedback.
In one case they have a customer who is able to see real-time experiance levels from 15 countries at once.
He says this data can be very useful as you are able to determine which customer has had a bad experiance and then send an apology as opposed to a pre-scheduled mass-blast upsell.
They just raised $6M in growth equity to expand into Europe, Asia and Middle East. They also hope to get into the US market. Their next goal is half-a-billion subscribers.
He says his company will know more about the Samsung Galaxy S5 before Samsung does because of the instant surveys they do. Moreover they will receive this information in 24 hours. The next step is to update carrier agreements to eb able to share some of thsi information.
As carriers look to reduce churn and boost ARPU, CEM is more important than ever. This is why ResponseTek seems to be at the right place at the right time.