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The Importance of Analyzing Customer Conversations with Speech Analytics [Resource Guide]

Company

Scott Kendrick

July 02, 2014

Analyzing customer conversations

As we’ve written about previously, customer expectations in today’s digital era are steadily rising. Nowadays, customers expect personalization, more options, constant contact, response to customer feedback, and specific action taken on that feedback.

With mediums like social media giving customers a loud voice, companies now more than ever need to be providing top-notch customer service. In fact, Oracle research shows more than 50% of Facebook users and 80% of Twitter users expect a response to a customer service inquiry in a day or less. Failure to respond via social channels can lead to up to a 15% increase in churn rate for existing customers.

Analyzing customer conversations to determine the root cause of a customer service inquiry or complaint can make all the difference when it comes to providing a positive customer experience. The following is a collection of recent CallMiner blogs that discuss the importance and benefits of speech analytics solutions:

There are many ways to leverage insights from speech analytics to improve the customer experience. Examples include uncovering and solving problems that create inefficient calls (e.g., long hold/wait periods), finding out why customers are unhappy, and better targeting offers. While implementing a speech analytics solution will not automatically improve the customer experience, it can have a direct impact on customer acquisition/satisfaction and drive continuous process improvement throughout the entire organization. More…

Your contact center, like any other customer-facing employee group, is responsible for upholding the customer experience. Customers won’t always remember the name of the agent who picked up the phone, but they will remember if your company delivered on its customer service promises or fell short right when it was needed the most. Tips to help ensure your contact center is delivering the best possible customer service to each and every caller include the following: 1) Create agent teams with a diverse range of skills, 2) Share examples of best practice behaviors, and 3) Empower agents to make decisions on their own. More…

Speech analytics solutions, while invaluable to any enterprise looking to better manage risk and compliance or improve agent performance and contact center efficiency, can sometimes drown a contact center manager in reports. With a speech analytics solution in place a contact center has practically unlimited access into how their operation runs and how every agent performs. However, too often companies are losing the forest for the trees and fail to turn that data into real action. Here’s a closer look at how companies can use speech analytics insights to their advantage. More…

For performance marketers, the contact center plays a crucial role because the information contained in customer conversations can be used to more effectively target and promote marketing programs (as well as identify new sales opportunities). There are a number of ways speech analytics can be used to improve agent performance in sales-based call centers, but three of the most significant include: delivering immediate feedback to managers and agents, using data insights for training purposes, and improving sales effectiveness. More…

The goal of this blog post series is to educate those who are just getting started with speech analytics. So, what is it, exactly? At its core, speech analytics is a tool that automates the process of listening to customer interactions. Delivered as an enterprise software solution, speech analytics extracts information from customer conversations that might otherwise be lost. In addition to using speech recognition technology to identify spoken words or phrases, many speech analytics solutions can analyze the emotional character of the speech and the amount of silence in the conversation. More…

Final Thoughts

Today, companies need to be providing consumers with quality customer service, especially with the explosive growth of social media and the rise in customer expectations. This is extremely important in call centers, where agents are one-on-one with customers. By implementing speech analytics solutions, companies can develop an understanding of customer pain points, ultimately allowing them to act, not react to customer service issues before they escalate.

Stay tuned for additional CallMiner resource guides!

Image Credit: ©iStockphoto.com/Palto

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