Speech analytics is not a new tool. In fact, it’s been around for approximately 15 years. Just like any other tool, in the beginning, the functionalities of speech analytics were limited, but over the years, it has grown in popularity & capabilities. Now speech analytics tools have incorporated AI & Machine learning to monitor & analyze 100% of the conversations, whereas, in the past, they could only monitor 2-5% of calls.
If you think customer conversations have completely shifted off phones that’s not the case!
In reality, 74% of people contact customer service by phone. With email being the next popular channel at 62%, which usually gets redirected to phone.
Since customer service interactions typically begin over the phone, do you know what your customers are saying or how your agents are engaging with your customers?
CUSTOMER ANALYTICS
Analyzing conversations in real-time provides unprecedented insights & value to make call centers more effective & to grow their business.
96% of customers say customer service is an essential factor in their choice of loyalty to a brand.
Listening to the voice of the customer can help you understand what improvements & clarifications need to be made & depending on the nature of the call, the solutions can be incorporated right away.
One of the many pros of speech analytics is that the call centers don’t need to ask the customer to do anything in terms of providing feedback. No more asking them to complete surveys, answer questions about the call, follow up emails or text messages; which frankly people don’t answer anyways.
You can get the following insights on the data you already have:
· Proactive insights vs waiting for months
· Insights from data you already have, not spending resources on getting new data
· Customer pain points for product development or updates
EMPLOYEE PERFORMANCE
The customer’s voice is important, but listening to the employee’s (in this case, the agent) voice is just as important. In this day and age, customers have much more choice when it comes to products & services meaning, that the most significant differentiating factor is the quality of customer service provided. Are your agents providing them with the best service?
Speech analytics provides insights into employee performance that allows call centers to:
· Understand which scripts work better
· Train & onboard new employees faster
· Provide real time unbiased feedback
· Get insights into customer pain points & value your business provides
· Understand what the best-performing employees do & train the others to do the same
COST SAVING
Managing costs is a top priority in all call centers & the automation of speech analytics allows businesses to scale while keeping costs in check.
· Quality control across 100% of cases
· High employee engagement means less turnover
· Better customer satisfaction leads to reduction in customer churn
These are the top 3 reasons we have heard from many of our customers, but we are sure there are a lot more benefits of speech analytics. We would love to hear those, feel free to reach out to us with your thoughts on this.
