Speech Analytics Solving Complex Problems in Customer Engagement

Welcome back to the 7th part of ‘Smarter Customer Engagement’ series where we learn the impact of speech analytics on customer engagement.

Speech analytics is the process of analyzing recorded calls to gather customer information to improve communication and future interaction. The process is primarily used by customer contact centres to extract information buried in client interactions with an enterprise.

Big data currently moves every avenue of your business, from marketing to revenue cycle management. For businesses and call centres, the largest portion of your data can be cultivated through voice – which means if you’re not using speech analytics, you’re missing it. You won’t have access to these actionable data points that can help you better serve clients and improve service.

3 ways Speech Analytics is changing the dynamics of contact centre

·        Emotional Data

In contact centres, the only way to adequately gauge a customer’s emotional state is by their voice. There are subtle undertones that Speech Analytics can pick up in relation to cadence and tone. With this added data, call centre representatives will be able to analyse a customer’s state of mind in real time and respond accordingly.

·        Training

Speech Analytics will also double up as a fundamental training tool for those employed to represent your company. It will easily monitor what the most common calls are but more importantly, it will help representatives narrow down what makes for the best response to those types of calls too.

·        Focuses on Customer Service

Speech Analytics help ascertain what customers want and help funnel people to the right representatives, it will also be able to highlight up-sell and cross-selling opportunities.

Benefiting Businesses, Improving Customer Engagement

As we understand the various traits, let’s see the few ways how leading companies are using speech analytics to further enhance their customer engagement strategies:

·        Precise response to fast changing conditions

While traditional metrics track volume, speech analytics can categorize the underlying reasons for a uptick in calls and provide guidance for a coordinated, effective response.

A real-time speech analytics platform can quickly uncover and rank the specific concerns voiced by callers. Using these statistics, managers can create scripts, web pages, and press releases that address customer fears while simultaneously strengthening the company’s credibility. Speech analytics allows this to be accomplished in real-time using detailed information that anecdotally-based analysis can’t provide.

·        Staying in front of the voice of the customer

Speech analytics can be used to monitor caller comments and in so doing suggest changes in products, services, marketing and call centre processes.

Take the example of a high-end software business. Everything is fine but the company finds out an uncovered issue “hard to understand interface.” Leading companies respond in three ways. First, they revise their scripts to elicit from callers clarifying information about ease-of-use. Second, speech analytics tools are used to quantify the resulting stream of new usability data.

Finally, these findings are plugged in the company’s product improvement roadmap and the resulting upgrades used to increase customer satisfaction and head-off a competitive incursion.

·        Continuous improvement of customer engagement strategies

A call analytics package consisting of traditional metrics plus speech analytics can quickly determine the impact on call resolution and, through audio mining, analyze customer comments for signs of frustration or dissatisfaction.

Embedding speech analytics into your contact centre technology platform opens up numerous paths to improved productivity and a better customer experience. But beyond the one-time gains from implementation, speech analytics can improve your customer engagement strategy by enabling lightning responses to changing market conditions, providing more actionable input from your customers, and delivering in-depth quantitative data on which to make important decisions.

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