Speech Analytics: The Key Deciding Factor for Delivering Excellent Customer Service
In today’s highly competitive marketplace, delivering exceptional customer service has become a key strategy for ensuring business growth and stability — and one way to do this is by using Speech Analytics.
Speech Analytics allows enterprises to anticipate customer needs and better understand customer requirements. Speech Analytics technology enables businesses to unlock valuable insights hidden behind customer conversations with service agents. It goes beyond the content of the conversation (what they say) to analyze their intentions (what they mean) and motivations (what they want) by analyzing the tone of their voice, the way they pause and interrupt, the volume of their speech, the emotions they express, and more.
Speech Analytics can be the key deciding factor for inspiring customer loyalty, increasing market share, and differentiating yourself from your competitors. It can give your business the following benefits:
Improved Customer Experience
IDC states that “the concept of customer experience is raising the bar higher and the goal is to surpass customer expectations.” Speech Analytics can help you improve user experience by enabling you to analyze and evaluate customer conversations with your agents for customer sentiments and identify recurring issues, opportunities, root causes, trends, and outliers.
Using Speech Analytics assures you that the right resources are being utilized properly in order to deliver processes, services, or activities. It can streamline process efficiency by reducing average talk times because it is designed to allow call routing from one agent group to another.
Reduced Operating Costs
As enterprises transition from CapEx to OpEx models, reducing operating costs is a top priority for call contact centers. But doing so requires a balance between resource optimization and staffing—without sacrificing customer service quality. One way Speech Analytics can reduce operating cost is by enabling searches for specific words, phrases, or characteristics within recorded conversations.
Increased Revenue and Market Share
Speech Analytics can identify which words or phrases have the best impact on customers, help you anticipate customer trends, and boost revenue and market share by identifying cross-sell and upsell opportunities. This is one area where Speech Analytics is useful not just for contact centers but for sales and marketing departments as well.
Reduced Customer Attrition
Customer attrition can crush enterprise revenue. One of the reasons for customer attrition is bad customer service. In fact, according to an Oracle study, 9 out of 10 customers leave a business because of poor experience, while 86% are willing to pay more to have improved customer service. With the help of Speech Analytics, you can identify the root causes of customer attrition. This gives you the opportunity to continually improve your products and services based on customer requirements.
Allsec’s VoiceIntelligence is a speech analytics solution that helps contact centers analyze and discover actionable intelligence to better serve their customers. It helps companies to:
- Identify which words or phrases have the best impact on customers
- Analyze and evaluate conversations for sentiments, acoustics, categorization, and agent performance scoring
- Search within recorded conversations for specific words, phrases, or characteristics
- Use data visualization to analyze historical data and evaluate key metrics
- Identify recurring issues, opportunities, root causes, trends, and outliers
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