Do You Know Everything About Interactive Voice Response (IVR)?

Technological innovations like artificial intelligence (AI), the internet of things (IoT), etc., are leveraging the communications and customer experience. Cloud telephony (CT) is playing a major role in encouraging seamless business and customer communication globally.

The customer experience (CX) is now a fundamental differentiator in the market. It is advancing a customer-centric approach and increasing brand loyalty. A growing company will encounter large call volumes, and every customer needs a practical solution to accommodate. A practical solution with a personal touch will expand the customer base. 

It’s impossible to hire, appoint, and assign an agent/representative to every customer for basic FAQs (Frequently Asked Questions). It is where Interactive Voice Response (IVR) comes into the picture, a standard component included with many business phone systems. Most cloud-based call centers have this tool in their package for efficient communication.

For a strong understanding of IVR, its working, benefits, and more, keep reading this guide.

Basics of Interactive Voice Response

The acronym IVR is self-explanatory. A pre-recorded voice response encompassing interactive communication with customers (giving answers to their queries). According to books, it is an automated business phone system feature that interacts with callers and collects information by providing them choices through a menu.

The interaction is based on the action of the caller via the keypad input (touch-tone keypad) or their voice response (speech recognition). A well-designed IVR increases customer satisfaction, improves contact center operations and KPIs (Key Performance Indicators).

The callers' action will decide whether the IVR can provide the necessary information, or route to the right department (skill-based routing). If you ever answer or receive an automated greeting, which proceeded to interact with you with some pre-recorded message, then you know what an IVR is.

Working of IVR

IVR reduces hold times and workforce, which in turn saves time and money for an organization. Earlier, a separate computer and software were needed to get IVR work. But at present, modern cloud contact center solutions have IVR and necessary components that are integrated into their system and needed to make the technology work. Cloud handles components like telephony, databases, and servers.There is no requirement for separate software, in-house infrastructure, or specialists to manage the IVR. It is simple to understand and integrate into the business. Basically, they have two primary components that enable the computer to understand and process the caller’s request.
 

First, voice recognition technology,

Second, Dual-Tone Multi-Frequency signaling (DTMF).
 

• Voice Recognition Technology acts after the verbal response from callers instead of a keypad input to navigate the menu.
• DTMF technology gets active with the keypad press on the phone after selecting from menu options. The keypad press provides the necessary information to the caller and allows intelligent call routing. It enables immediately connecting and interacting with a human operator.

Caller (receives the call) → Auto-attendant Greets → IVR Kicks In → Caller gets the phone menu option → DTMF or Voice Recognition to interact → IVR Self-Service or Route Call to Agent
 

• The IVR begins with a greeting by an auto-attendant; once the call is received.
• IVR kicks in and presents the caller with a phone menu.
• The caller receives a series of options via the IVR.
• Callers have the choice of either using dual-tone multi-frequency tones (DTMF) or voice recognition.
• The caller’s input will decide the next voice response or action.
• Callers can navigate through the menu ‘IVR self-service’ to solve their queries, or they can choose to interact with an agent.
• This is where skill-based routing or intelligent routing begins - based on the caller's query, the call will be routed (ACD for distribution) to an agent who holds the skills to handle the caller’s need.

*Automatic Call Distribution tool distributes the call to the right agent and department based on the skills or expertise.

Sarv IVR Features That Make Customer Interaction Smooth Text to Speech (TTS) is an additional tool that makes the overall process quicker. Simply write and transform the text into a voice recording. You can choose the language, either English or Hindi in a male or female voice.
 

• Text to Speech (TTS) is an additional tool that makes the overall process quicker. Simply write and transform the text into a voice recording. You can choose the language, either English or Hindi in a male or female voice.
• Dynamic Announcements are personalized greetings that begin soon after the caller speaks. Sarv offers businesses to set the announcement in three ways - voice, TTS, and API call by webhook.
• Webhook is an API integrated with the system to send and receive data from the server whenever needed.
• Call Transfer assists in LIVE calls. Agents can transfer the calls to different departments or people via webhooks.
• The Ringtone is executed before the call is answered. It ensures the caller is not bored.
• Answer Call allows you to decide the point where you need to answer the calls during the IVR flow. You can select the modules and decide; whether to apply them before or after the call is answered.
• The Call Recording feature records all inbound and outbound calls, which can be paused, resumed, and stored. Listen to it anytime for quality standards. Create Notes of the necessary information for future references.
• Colors Icons or Tags are for businesses to specify their activity, which will remind them about the action that needs to be taken. Music on Hold is executed to keep your customer entertained and retained. Customization & Personalization is Key to Customer Satisfaction

89% of digital businesses and 79% of digital marketers are investing in personalization and customization.

A customer-centric approach is all about customization and personalization. It is generally considered an advantage in speed, cost efficiency, and resource allocation.

Customization means you can tailor the services according to customers' needs. If the service better fits their needs, then the business has a high chance of success in sales and retention.

Customized services are utilized in two ways and are interchangeable with personalized services. They go hand-in-hand. Meanwhile, personalization means understanding who the customer is and what are their past purchases, queries, and calls about. Around 75% of customers expect you to know who they are and the reasons for their last call immediately.

Customization and personalization in IVR increase customer satisfaction and retention rate. This in return helps businesses to project a more professional image.

IVR is a Feature of Growth

IVR is mostly included in cloud-based call center solutions, making it an affordable and optimal choice for business. It helps improve agent performance and morale while ensuring continuous availability 24/7. IVR further leaves no room for manual errors and encompasses a positive customer experience with your company. Happy customers tend to turn into loyal customers, which in turn can lead to more customers.