How Speech Analytics Software Can Benefit Business Areas Across the Enterprise

With the proliferation of customer communications channels (voice, email, live chat, social media, etc.), contact centers often find they’re swimming in customer data. The question then becomes: How do companies use all of that data to provide the type of experience that customers are looking to have?

Speech analytics is one solution. A video recently created by one of our clients describes how speech analytics software allows them to look for specific language patterns that influence company metrics, leading to an improved customer experience overall

As noted by Molly Sollie, manager of quality assurance and voice analytics at Defender Direct, speech analytics helps shine light on customer interactions data. “One of the teams we support currently said, ‘Now, instead of walking into a cave with no flashlight, you just gave us a 5,000-watt bulb.’”

Let’s take a look at the importance and impact of speech analytics software across all areas of the enterprise:

Speech Analytics: Not Just for the Call Center

One of the primary benefits of speech analytics technology is its ability to uncover the root cause of customer concerns or issues, which can result in a host of positive outcomes: improved customer satisfaction, increased sales, etc. But, as noted in a CRM magazine article, only 20% of customer complaints are agent-related – the other 80% stem from product or process issues or misaligned customer expectations.

The quality assurance team at Defender Direct, in fact, works to support all areas of the enterprise, whether specialists are on the phone, in the field, or in the office. After recording customer calls, the team sends the audio files to CallMiner, where our speech analytics software transcribes and analyzes these interactions to identify trends in customer conversations.

The end result? Improved performance across all departments within the organization as well as an enhanced customer experience overall.

A Closer Look at Speech Analytics Throughout the Organization

Let’s say, for example, that speech analytics software has identified that sales campaigns have been falling short of meeting customer expectations. How can the sales department leverage that information to drive more effective campaigns?

For performance marketers, who rely on customer conversations to effectively target and promote marketing programs, identify new sales opportunities, and drive company revenues, speech analytics can be the linchpin to improving agent performance.

With speech technology in place, supervisors receive immediate performance feedback that can help them determine where agents excel and where they may need additional coaching. Having this data in hand allows managers to implement training programs to hone best practices and improve sales effectiveness overall.

But that’s just one example of evangelizing speech analytics capabilities throughout the organization. CRM magazine also notes that many other departments (i.e., legal and compliance, marketing, operations etc.) stand to profit from speech analytics.

“The opportunity to mine customer data and listen to it with a more analytical ear as enabled by speech analytics can open up worlds of opportunity throughout the enterprise,” says Paul Stockford, chief analyst at Saddletree Research.

Final Thoughts

In order to realize the full benefits of speech analytics across the enterprise, proactive companies are using the technology for root cause analysis across all departments (sales, marketing, legal, etc.). With customer data growing exponentially, capturing and analyzing critical customer information can be both a strategic asset and a long-term investment in a company’s customer base.

How is your company using speech analytics for improved business results and customer interactions?