Showing how co-browsing saves time sometimes doesn't matter as much as its impact on conversion or retention. It depends on what your CEO thinks about all day. While co-browsing might reduce time taken to support a customer, what if the CEO's priority is growth because of pressure to meet investor targets? Below we'll show you the ROI you might want to report first depending on company priorities.
Also read: Customer interviews about the benefits of co-browsing
CEO's focus is on growth so measure conversion and retention
Let's say co-browsing reduced average handle time of support requests by 30% and you report that to the CEO.
Yes, they'll be happy but they may not be enthusiastic.
However, if the time saved was used to respond to a greater number of customers resulting in a 5% improvement in conversion rate, they might throw you a party.
A CEO might well view a 5% improvement in conversions per month as paying for the whole department as well as hitting growth targets that investors demand.
Rather than doubling down on efficiency gains they may wish to add more support staff to take advantage of this new channel of growth.
The CEO is focused on customer experience in a competitive industry
The customer experience (CX) focused Qualtrics sold for $8bn to SAP and its rapid growth and purchase was due to CX being a board level issue now.
Customers can choose between lots of different companies with similar features and pricing. CX is then the differentiator and becomes part of how they compete as a brand. It is their brand.
Within these companies there's more of a focus on NPS, CSAT, Customer Effort scores.
What impacts these metrics?
Fast and accurate support. Not only average handle time but first contact resolution and also providing customers with a key moment of delight in being supported by a new technology. You get these with co-browsing.
There are further details to it. You might see CSAT scores improve heavily for a customer segment that struggles the most with technology. When we did an analysis of Upscope customers some of the heaviest users were companies with complicated interfaces and people who spent minimal time with technology as part of their jobs. It becomes worth measuring impact by specific segments.
NPS scores are gathered every 3, 6 or 12 months and a tiny improvement can mean millions in revenue for larger enterprises.
CEO is focused on staff satisfaction
It's almost like this is the unspoken truth to it all.
Sitting in an office environment with colleagues supporting customers and hearing them asking the same questions again and again and seeing their growing frustration is tough.
People like helping people and there's great satisfaction in doing that effectively.
In addition, there's a reason experienced CEOs spend more and more time on better recruitment, company culture, events, getting feedback from team members and more.
Why?
The cost of losing good people is not just personally difficult, it hurts customers, other team members and the company's growth.
If this is a key concern then the CEO can measure the impact of co-browsing on turnover, employee NPS, new hire failure rates, absenteeism and more.
CEO is focused on cost efficiency
We've rarely heard companies mention they have a focus on cost efficiency, maybe because most companies using Upscope are part of the upward tech cycle of growth and so focused on conversions, onboarding and staff satisfaction.
However, at the time of writing, Upscope is reducing average call handle time up to 43% for individuals and teams with existing processes for demos, onboarding and support.
Note, this is where Upscope is improving speed on existing set processes and not creating new ones.
It can improve first contact resolution (FCR) by up to 20%.
It can reduce future support requests by 10%.
That said, using co-browsing for the initial onboarding and ongoing training of customers impacts FCR and future support requests. Building new processes around new technology can be cost efficient.
Here's a list of metrics you might want observe
Average handle time: The average handle time can drop for common support queries because the agent can see the customer's screen without having to ask them to download software. However, it may rise for other support queries because the customer takes the opportunity to learn more about the software.
First contact resolution: Rather than give a reply to a specific problem, seeing what the customers sees gives context on the real underlying misunderstanding or problem and you can avoid having to fix further related problems by explaining it there and then.
Conversions: Improving onboarding and support using co-browsing increases the number of customers that go on to purchase the product because they understand how to use the service and are guided past problems. If you take up the opportunity to use co-browsing for one to one onboarding or simply educating customers when given the chance, this improves further.
Conversions of a specific sub-set of users: The greatest impact may be on the least technical users who might also take up the greatest amount of time to understand a new software. They can be the toughest users to support on live chat or via the phone because they'll spend an hour discussing basic features. If you segment customers and notice an improvement in any one group, take note of their relative technical ability. When Upscope last ran a customer analysis we noticed that many of our customers are likely to have relatively non-technical customers and often people who simply didn't work with computers for most of their regular working day.
Engagement: Improved onboarding and support improves customer engagement figures where they increase the volume of usage and the speed at which they get to your critical engagement metric.
Employee satisfaction: By giving your team the tools they need to do their job and focus on helping people, which is what they want to do, it can lower employee turnover, improve employee NPS and reduce new hire failure rates.
Retention: As co-browsing is an interactive educational tool, they'll understand the product faster, feel like they're well supported and you'll have better context on their problems. This will improve retention.
NPS and CSAT: The customer satisfaction scores are likely to improve quickly and then mid to long term, this will impact the NPS scores.
Feedback resulting in UX improvements: This is tough to measure but we were slightly shocked when we first began using co-browsing. Customers struggled with what we imagined were simple sentences and interfaces. For example, we assumed everyone knew what "Domain" meant. Some did not. One word could change their understanding of an entire section of the app and the increase in feedback from co-browsing is immense.
Learn more about** the customer experience strategies of 7 companies.**
See a list of raw unedited responses on time saved by co-browsing
