In most respects, there's not a lot of common ground between a regional water utility and a multinational logistics giant. But one thing that does unite the Las Vegas Valley Water District and FedEx is their respective passion for using customer analytics to improve the customer service experience.For Las Vegas Valley Water District, which received the Gold award in the Customer Analytics category for the 2012 Gartner & 1to1 Media CRM Excellence Awards, the utility's efforts to better understand its customers' needs occurred after seeing a spike in call center volume a few years ago. Prior to its use of customer analytics, the water district had limited means to determine why customers were reaching out to the contact center in such high numbers. The use of analytics enabled decision-makers for the utility to gain deeper insights into why customers were calling, enabling the organization to help customers proactively and reduce the number of follow-up calls.
And while FedEx has seen a drop in its contact center call volume in recent years due to increasing use of self-service capabilities by its customers, calls being handled by its agents have become more complex. To help resolve issues for customers more effectively with an eye towards increasing loyalty, the company began using customer analytics tools to better understand why customers are calling, when they tend to call, and other granular insights.
In both cases, each organization is using customer analytics to listen more closely to their customers and help make it easier for customers to interact with them. Numerous studies have shown that companies which deliver strong customer service have higher customer retention rates. Not only is it more expensive to acquire new customers than it is to retain existing customers, satisfied customers are more likely to generate higher customer lifetime value through future purchases and referrals. Good customer service makes good business sense.