Why is an Interactive Voice Response (IVR) important to Your Business?

In the current era of swift and dynamic business operations, offering unparalleled customer service is a critical component for establishing brand devotion and sustaining a loyal customer base. An Interactive Voice Response (IVR) system serves as an exceptional resource to significantly enhance the overall customer service experience.

Automating tasks might be a newer phenomena, however automation has existed in certain aspects for sometime now. An IVR, is essentially, an auto-attendant. With IVR businesses can automate certain customer interactions if not all by simple voice responses. Since IVR is an older technology that has existed since the 1970s, it has also quite improved over the years. In current times, IVR and IVR systems are hosted on the cloud. Businesses also choose to have an IVR Number to manage customer interactions that require repetitive tasks like payment reminders, order confirmation, etc.

An IVR system is simply called Interactive Voice Response. It is programmed to offer callers a relevant, personalized and pleasant customer experience. It helps bring callers to the relevant response, and in some cases the right business representative or the most fit agent that has been trained to provide expert advice.

Also, it is very important for a business to have a well-designed IVR to make sure that the customer has great experience with the business. The customers should be able to reach the right answer without struggling. The IVR should be designed keeping in mind customer ease and solving queries at once- preventing repeat calls and boosting First Contact Resolution Rate.

Read on further to delve into the intricate details of what precisely an IVR system encompasses, how it functions, and why it holds a paramount position in the realm of your business operations.

What is an IVR System?

An IVR system is a technology that enables customers to interact with an automated phone system using voice commands or touch-tone keypad entries. The system uses pre-recorded voice prompts to guide customers through a set of options, allowing them to perform various actions such as accessing account information, paying bills, or speaking with a customer service representative.

An IVR system typically includes the following components:

IVR Number: This is the phone number customers call to access the IVR system. It is usually a toll-free number, making it easy and cost-effective for customers to reach your business.

Pre-recorded prompts: These are the recorded messages that guide customers through the IVR menu. They can be customized to suit your business needs.

Menu options: These are the different options available to customers when they call the IVR number. For example, customers may be prompted to press 1 for account information, 2 for billing, or 3 to speak with a customer service representative.

Databases: The IVR solution is connected to various databases, which enable it to retrieve and provide customers with the information they need.

How Does an IVR Solution Work?

IVR technology seamlessly amalgamates traditional phone systems with cutting-edge Voice Over Internet Protocol (VoIP) technology, generating an advanced call routing system. Such a system is further streamlined by IVR software, which facilitates automated menus to efficiently direct callers to the appropriate departments, databases, or live agents based on their choices.

For example,When a customer calls an IVR number and selects option 1 for account information, the IVR system will prompt them to enter their account number using their keypad. Once the account number is entered, the system will retrieve the customer's account information and provide it to them. If the customer selects option 3 to speak with a customer service representative, the IVR service will transfer the call to the appropriate department. This simplistic yet sophisticated IVR solution significantly enhances customer’s request while simultaneously ensuring a swift response time.

Typically, automated IVR menus incorporate voice recognition software or dual-tone multi-frequency touch-tone keypads, which enable seamless interpretation of customer input. Additionally, automated call distribution software works in synchronization with the IVR system to efficiently direct calls to agents. Accessibility, IVR & Changing Times

Being easily accessible to customers is not an optional service for a business to add. Various customer studies and market research papers have proved that customer accessibility is directly related to better customer engagement. And IVR, definitely is accessible for a business to get so that customers can get queries solved and get support.

Hence, Businesses must believe the fact that customers these days have more choices and would go for another brand in no time in case they have remotely bad experience with the business. Hence it is quite obvious, a pleasant customer experience with a business is of central importance. If a business isn’t driving engaging and positive experiences for its customers, it is losing them or on the path of losing them. So for a business to offer great experiences to its customers and their changing expectations, it is important for a business to get the simple yet automated technology of IVR.

Why is IVR important for a business?

Since we now know basically what IVR is, how it works and how it is fit for the current business landscape and its ever changing nature. Let’s look at how it is advantageous for a business, and get deeper into why IVR solution drives business growth for companies across the growth spectrum and sectors.

Offer customers a stellar experience

It is easier for a customer to dial up a business than other channels of customer engagement. It is easier as well as offers a great opportunity to businesses to offer a seamless experience. With a well-thought out IVR flow, businesses can easily manage customer engagement and offer a great brand experience.

Boost Operational Efficiency & Optimization

A well-designed IVR menu can manage calls easily and quite rightly redirect calls to the right customers. The outbound IVR can even help with small tasks like appointment confirmation, payment updates, reminders, etc. When intertwined with tools like Text-to-Speech, IVR can enhance customer support to another level without the involvement of any business agents. IVR can even support a business when there's an influx of customer calls. Since IVR is essentially a cloud-hosted software, it can be edited rather quickly for efficient management of customers without lowering service standards.

Save on costs

To put it forth again, businesses want to offer better service without having to spend extra. In essence, businesses want to be able to do more for their business without having to spend more money. This whole “problem” is solved by IVR. There are many studies that have iterated the fact of how IVR leads to cost savings for a business. In fact, on a general level, automation always leads to cost savings. 24/7 Availability

Even after business hours, an IVR system can offer your customers 24/7 availability. Customers can now access the information they require at any time, which can be especially useful for companies that serve clients in various time zones or conduct business internationally.

In addition, an IVR solution offers customers self-service options that they can use after business hours, like tracking their orders or paying their bills. As a result, customer satisfaction rises, improving the overall customer experience.

Brand Image

By offering a skilled and effective level of customer service, an IVR system can enhance your brand's reputation. An IVR solution can help you live up to customers' expectations of quick and simple access to the information they require from businesses.

Get an IVR Solution to Streamline Your Business Operations Now!

As a business owner or manager, you cannot ignore the prowess that IVR offers for your business. Apart from being wholly automated and cost-efficient, IVR drives customer engagement that always leads to the right answer whatever the question may be. Knowlarity is one of India’s premier IVR Service providers.

It is a cloud communication company that is relied on by various businesses to refine customer engagement processes. Contact us to know more on how IVR solutions can help you level up the growth of your business.