Why Should Call Centers Use Speech Analytics?

March 25, 2021 at 04:00 pm

In the age of virtual technology, the transition to online chat-based customer service has now become easier than ever. Being able to use and identify “voice” as a means of communication with your customers equals more sales for your company.

Where should Speech Analytics technology come to play in customer service?

Where it creates a system that will simplify work for both customer and agent;

Improves agent-customer relationships; and

Creates more revenue for the company in the long run

  • Where it creates a system that will simplify work for both customer and agent;
  • Improves agent-customer relationships; and
  • Creates more revenue for the company in the long run

Previously known as “audio-mining”, where audio files of calls were translated to text files in order to look through specific words and phrases, it has now been innovated to a more intelligent product that can accomodate the growing needs of companies. “Speech Analytics” uses recorded conversations and extracts relevant information that can be used to turn subjective conversations to something measurable and objective.

Benefits of Speech Analytics:

1. Measures agent compliance with policies, regulations and performance

Are your agents following the structure and protocols? Speech Analytics can detect words or even phrases such as “refund”, “disappointment”, or “I want to speak to your supervisor”. Unsatisfactory performance can automatically be detected and be swiftly improved. It promotes and encourages agents to be consistent with their performance in providing the customer care they were always trained to give. This is a sure way to ensure the quality of customer service your agents bring to your customers.

2. Improves efficiency in customer support

The intelligence of Speech Analytics brings improvements in operations, call deflection, first call resolution, and even a decreased average handle time. It reduces stagnancy or deterioration of the quality of customer service through the constant intelligent refinement of the system.

3. Improves customer experience

According to research from Vonage, they found that 75% of people still prefer verbal communication when interacting with companies and brands. Sure, simple issues might just need a quick email or chat, but complicated issues are bound to arise at some point. With Speech Analytics, companies are more prepared to handle more complicated requests by preempting similar scenarios, as well as training agents to ensure customer satisfaction. It is no doubt that customers have an easier experience through the constant improvement brought about by Speech Analytics. What used to be a back-and-forth conversation about issues has become a quick call resolution because of the improvement in the customer service system.

4. Generates more revenue

Did you know that businesses lose billions of dollars due to poor customer service? According to Forbes, it is estimated that these companies lost $75 billion due to their failure of providing excellent customer care. That’s $13 billion more than the previous year.

Now that companies are starting to emphasize the importance of customer service, there is a greater need to invest in a system that is worth putting money to.

How can Speech Analytics offer a return on your investment by reducing costs?

1. Speech Analytics reduces the volume of calls after analyzing any issues or broken processes that cause these calls in the first place.

Speech Analytics lowers the cost of calls through reduced handling time, as well as reduced transfers.

Speech Analytics gathers data from the customers and also enables companies to improve on their Interactive Voice Recognition (IVR) and online-based customer service.

References:

Hyken, S. (2018, May 17). Businesses Lose $75 Billion Due To Poor Customer Service. Forbes. https://www.forbes.com/sites/shephyken/2018/05/17/businesses-lose-75-billion-due-to-poor-customer-service/?sh=460426f616f9

New research Reveals 75 percent of Customers Still Favor Live Agent Support for Customer Service vs 25 Percent Self-Service and Chatbots. (2018, December 6). businesswire. https://www.businesswire.com/news/home/20181206005294/en/New-research-Reveals-75-percent-Customers-Favor

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