5 Key Industries Profiting From IVR Services
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5 Key Industries Profiting from IVR Services

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Content Writer,Servetel
 According to a study by Gartner,“By 2018, more than 50% of organizations will implement significant business model changes in their efforts to improve customer experience.”

Nowadays, Customers’ needs have stepped up to a new level and business industries can no longer turn a blind eye towards them. From a value add-on feature to an inevitable component of the business, customer experience has come a long way.

If the truth is told, customer experience has now become a safe ladder to attain profitability in the business. Happy customers are likely to increase your customer base by word of mouth leaving behind all other advertising means.

To stay competitive & relevant in customer experience arena, many components come into play. From a basic feature such as User Interface(UI) to an advanced feature as IVR services, everything adds a layer of strength to your Customer Experience(CX) in numerous ways.

After a company’s product, the power to enhance a quality customer experience lies in its infrastructure to provide maintenance services. Unfortunately, only 31% of companies strictly monitor the quality of relations with target customers as a part of their service.

IVRIVR took over the customer service industry and streamlined the whole experience over an intelligently routed call system. This technology benefits the industry by providing an automated and secure way to record customer’s interaction and their experiences over a database accessible through the cloud.

These IVR systems have elevated customer engagement, a large number of industries have already started leveraging potentials of these systems.

Let’s explore how these different industries are reaping profits from these customer-centric services.

Payment Industry

Recent transformations in government policies like demonetization have pushed payment industry to go online and strong arm their payment system with online methods. To keep par with these changes, payment companies have introduced innovative yet customer-oriented ways to stay ahead.

Now, customers can pay their bills by simply connecting to a company’s IVR and typing in their card details on the numeric keypad operated by DTMF technology.

Introduction of DTMF (Dual-Tone Multi-Frequency) applications is the most significant solution which has transformed the transaction processes, by replacing the physical presence of the customers in a bank with a telephonic conversation. These numbers are detected as tone pattern and verified with the customer for the successful payment.

Removing any dependency over PC or internet connection, payment through IVR has emerged out to be the best alternative for most Indians who may be technologically or educationally not well versed in the process.

Food Industry

The Indian food and grocery market is the world’s sixth largest. And with 150 percent year-on-year rise in online food delivery industry, this industry is going to multiply it’s worth in coming years.

This huge increase in the online-food industry is symptomatic of customers craving and expectations from any food stores. These online stores are leaving no stones unturned in keeping their customers high on dopamine.

Buying an IVR service is now of utmost importance to all the food vendors as it is now a vital part of company’s infrastructure which facilitates the whole process from placing orders over a call to receiving a delivery confirmation call to asking for a quick feedback.

As these calls get recorded, so it helps the store owners to understand their customer changing tastes, expectation or behavior pattern according to the time of the year. This analysis further helps in food companies to innovate their menus and maintain the inflow of customers throughout.

And with the integration of CRM software with IVR call data, food industry took a big stride towards enhancing the customer experience by reminding them to place an order.

Travel & Tourism Industry

India is one of the digitally advanced countries when it comes to planning travel itineraries or booking services online. Traveling industry is thrusting hard to satisfy the quench of travelers as per their convenience.

Providing an Interactive Voice Response(IVR) to travelers, gave them a platform to instantly approach the travel company and draft their own customized plans as per their expectations and budget.

From stating all the prerequisites of the place to booking an online guide, everything now gets perfectly woven into the travel packages as per traveler’s requirements.

This industry is an intricate industry in which customer satisfaction & service quality is an uncompromisable factor.  One major milestone which has been achieved with the introduction of IVR is being 24*7 approachable in the on-road crisis.

This quality growth by the introduction of IVR is not only attracting domestic travelers but is also expecting a surge in a number of foreign travelers. In fact, the expected growth of foreign tourists as stated by tourism industry is expected to reach 17.3 MN by 2017.

tableE-commerce Industry

More than products it’s the customer services which forms or destroys the brand image of e-commerce companies. To lead this e-commerce race, giants like Amazon & Flipkart have rolled up their sleeves to keep customers satisfaction as a priority instead of offering drooling discounts or cash back to them.

Customers feel important if their grievances are addressed & attended appropriately by the company. And a platform like IVR offers customers with the perfect opportunity to directly report their issues to the company and receive a solution as quickly as possible.

24*7 availability along with direct interaction with customers through IVR has given e-commerce companies a ground-level view of customer’s expectations and problems. Quick replacement & refund policies have proved to be one of the major game-changing solutions after the introduction of IVR.

 Healthcare Industry

All the industries mentioned above have leveraged IVR to generate profits or to keep the customer happy. Whereas healthcare industry has effectively utilized IVR services for a noble cause, shifting their focus from making profits to protecting people’s life & time.

Hospitals are deploying IVRs to assist people to deal with comparatively smaller diseases over phone calls, saving patients from long queues. It also helps doctors to focus their time