previous icon Back to blog
Dec 12, 2022
5 minutes read

Voicebot vs IVR in today’s contact centre

Wouldn’t it be fascinating to put a value on service speed for your business? How much do you think it would be worth to route customers as quickly as possible to the right place? A place where their problems can be solved in record time?

Would you invest in staff training to shave off precious minutes to boost ROI? Would a central, accurate customer database be worthwhile to your customer service agents?

Unfortunately, we're not aware of any software that can place an accurate value on customer service speed. But that doesn’t mean it isn’t a critical metric to be considered. 

Speed and convenience are two essential components of excellent customer experience, which is why we’re exploring the value of Voicebots in 21st Century business. We’re also unpacking the key differences between Voicebots vs IVR and the advantages they bring to the table.

Voicebot vs IVR - What is the Difference?

As with any emerging and evolving technology, it’s important to understand the key differences between a Voicebot and IVR before making business decisions. 

Defining Interactive Voice Response (IVR)

IVR (interactive voice response) is technology that can stand between your customer and your contact centre. It offers pre-recorded messages available through either voice commands or keypad tones. The 24/7 system is fairly simple and allows your callers access to information without having to call on a human agent. It can also be used to direct callers to the appropriate department or agent based on their needs.

IVR is a great option for companies with a limited budget and for systems that don’t require conversational service. It’s very much a get in, get your information, and get out medium.

What is a Voicebot?

Voicebots are next-level IVR systems which use AI to interpret and respond to users’ voice queries. While IVR systems require the user to listen and respond to menu items, the AI behind today’s Voicebots uses Natural Language Understanding (NLU) to determine both the meaning and intent of the caller. We’re familiar with Siri and Alexa, right? These are excellent examples of AI-powered voice assistants. 

What is Conversational IVR? 

Now that we’re on top of the differences between IVR and Voicebots, we need to throw another player into the mix: Conversational IVR. 

The brains behind our CM.com products explain: “In simple terms, Conversational IVR is the technology behind a Voicebot, allowing callers to engage with a self-service solution with their voice. In contrast to traditional IVR, there is no static menu, and callers don't have to dial-in numbers. Conversational IVR can understand full sentences in voice and can even understand the context. The voicebot will reply in full sentences, allowing callers to lead the conversation.”

Voicebots & IVR Value Add

It’s immediately clear how Voicebots and IVR add value to forward-thinking businesses. Let’s see what that looks like in real life.

Using AI to Understand & Respond to Customer Needs

One of the incredible and largely untapped benefits of AI is its ability to interpret enormous volumes of data. When correctly applied, a Voicebot supported by well-designed AI can:

  • Provide product recommendations tailored to each customer’s preferences
  • Comprehend and respond to the customer buying cycle based on demographics
  • Offer accurate, contextual responses to user queries
  • Create and deliver the right content to customers at the right time
  • Simplify the process of finding the information or product that your customers need

Nothing is left to chance when employing the services of AI, as the system analyses data based on a combination of factors that customer service agents can’t possibly process. This includes internet usage, age, location, income, previous buying behaviour, and so much more. 

Make Use of a Centralised Customer Profile

In the race to the top of Customer Service Mountain, the one stumbling block that we want to avoid is the frustration of fragmented data. This is, undeniably, a challenge for our customer service team, but even more so for our customers. 

Employing a system such as our Conversational AI Cloud to drive your AI-based Voicebots allows you to create a unified profile of your valued customers. This, in turn, offers personalised, instant, and accurate responses based on a complete picture of all your customer data. 

With this robust design and a smart, self-help system in place, you grant your customers the ability to check account balances, report lost items, apply for loans, or request additional services. And in the instance where your Voicebot can’t assist, your caller is passed quickly over to a customer service representative with all the information they need at their fingertips. 

Promote Your Brand on Multiple Channels 

Some businesses have been a little slow on the uptake when it comes to cross-channel communication and AI-based customer support. However, the sands are definitely shifting as more businesses than ever appreciate the value of real-time, channel-agnostic support and service. 

Imagine allowing potential customers to open an account with you from your Facebook page or granting them the freedom to switch to a WhatsApp chat when they encounter an issue. And imagine that all of this is done without losing a stitch of data at a time and channel of their choosing.

It may sound like utopia, but it is, in fact, today’s reality for those organisations that choose to embrace this technology.

Proactively Engage with Customers

Who says that a Voicebot is merely a reactive FAQ database? 

Did you know that the data gathered and processed by AI systems can be put to work in other exciting ways? For example, when your customer calls in to change some personal information (which they do via your clever, personable Voicebot), the AI may pick up that this person is statistically likely to require an upgrade. This option is offered during the conversation, and the upsell or cross-sell is initiated. 

It makes you think, doesn’t it?

Conversational AI Solution from CM.com

It's exciting to see how what once sounded like science fiction is now a reality. AI-powered Voicebots are ready, willing, and able to handle most customer calls in a professional and proactive way. From managing simple tasks and FAQs during peak call times to solving more complex issues and offering personal information, IVR and AI is definitely the face of the future. 

However, effective integration and setup are the driving force behind a successful Voicebot. That’s where CM.com comes in to wave our wand over splintered data and frustrated agents and craft a seamless, versatile, and robust solution. 

Was this article interesting?
Share it!
CM.com
connects tens of thousands of companies with millions of consumers via their mobile phone each day. Behind the scenes, from our innovative platform, CM.com makes sure companies can use these millions of messages, phone calls and payments to become part of people’s lives.

Related articles

hero-17-sms-customer-service-templates-to-use-today
Nov 11, 2024 • Conversational AI

Turning shoppers into loyal fans: how to retain customers post-Black Friday

Black Friday is a huge shopping event, drawing crowds of eager shoppers hunting for deals. But after the frenzy fades, the real challenge begins: turning one-time shoppers into loyal, repeat customers. Customer retention is vital for long-term success and post-Black Friday is the perfect time to build lasting relationships. So, how can your business retain customers post-Black Friday? In this blog, we’ll explore how to make it happen.

blackfriday-2024 blog
Oct 07, 2024 • Conversational AI

The art of simplicity: help customers make quick Black Friday decisions

Black Friday 2024 is just around the corner, bringing with it a great opportunity for retailers to maximise sales. However, standing out in such a competitive event isn’t easy. Consumers expect attractive offers, fast deliveries and top-notch customer support. In this article, we’ll show you how to simplify the purchasing process during Black Friday, optimising everything from promotions to logistics and 24/7 customer service to ensure a seamless experience and increase customer loyalty.

engage-platform-effect-customer-service
May 13, 2024 • CM.com

Happy clients, happy agents: the platform effect in customer service

As a member of the customer service team, you stand on the frontline of customer interaction every day. In a world where customers demand quick and personalised service, long wait times, impersonal responses, or worse, incorrect answers, can quickly drive a customer away. Your goal, however, is to connect customers with your organisation and deliver the best answers and service possible.

Education Technology
Nov 27, 2023 • Conversational AI

How Generative AI supercharges your customer service

Meeting customers' expectations remains the biggest challenge in service. Speed, convenience, and accurate responses are critical to achieving this. With the power of Generative AI, customer questions can be identified, categorised, and resolved more quickly. Plus, your organisation is continuously fed with data to improve the entire customer journey.

Acquisition and retention in marketing engage platform
Nov 13, 2023 • Conversational AI

Decoding the struggles of acquisition and retention

In life, they say percentages don't matter, but in marketing, they are everything. The customer journey, spanning from acquisition to retention, is a path filled with potential incremental drop-offs at every touchpoint. A confusing experience here, an ill-timed communication there, and suddenly, your conversion rate is plummeting.

chatbot-customer-experience
Sep 18, 2023 • Chatbots

Omnichannel chatbots: create once, offer everywhere

Chatbots spent a decade-plus as a technological sideline: nestling at the corner of websites, roaming the odd FAQ, inviting people to click with a hopeful link. They weren’t a big part of the customer experience. But now – suddenly – they’re everywhere.

blog-image-chatbots-improve-customer-service
Aug 07, 2023 • Chatbots

How to use AI chatbots to improve customer service

Customer service teams face a vast range of challenges in their day-to-day. Customer expectations are higher than ever, and large volumes of repetitive queries can test their patience and create stress where there needn’t be any. That’s likely why the average customer service representative only stays in a job for 12 months.

dutch-grand-prix-service
Jun 30, 2023 • CM.com

Seamless customer support at the Formula 1 Heineken Dutch Grand Prix

In the run-up to any event, attendees will have numerous questions, such as "how do I get there," "where can I find my tickets," and "Is there somewhere to stay nearby." F1 fans often ask these types of questions before the Formula 1 Heineken Dutch Grand Prix.

Generative AI chatGPT blog about new updates
Jun 22, 2023 • Conversational AI

CM.com's next steps into Generative AI: upcoming releases for 2023

The market for generative AI has experienced significant growth, with over $14.8 billion of venture capital invested in startups building their products on Large Language Models like OpenAI’s ChatGPT and other generative AI tools. The space is booming, evident from the high number of website domain registrations in the field every week. The key challenge for most companies is to find out what will propel their businesses moving forward.

Is this region a better fit for you?
Go
close icon