5 Ways in Which Speech Analytics Can Benefit Your Business

speech analytics solutions

In a customer-centric industry, it is apparent to have customers who face challenges when using your products or services. They might have queries for which they need an immediate resolution. There can also be times when even after offering the best customer support services, the customer retention rate is low.

It is an established fact that customer satisfaction is the key to survival in this highly competitive market. Every business aims to deliver the best customer experience but that requires a lot of effort and hard work. Therefore, in order to minimize these efforts, a number of latest and advanced technologies have been introduced in the market and one of those is speech analytics.

Speech analytics is the latest technological solution that helps you gain some valuable insights about your customers that are otherwise not available. It provides you a detailed analysis of the recorded calls that help you collect relevant customer information for improved communication and interaction in the future. Be it handling the customer query or assisting them with an optimum solution, this latest software advancement with an ability to record customers’ voice serves as a great help.

There are a number of ways in which the call centers can make the best use of speech analytics solutions. Some of these are as mentioned below:

1. Improved Service Quality

Using speech analytics for customer experience may help in improving the quality of services delivered to the clients. Capable of analyzing both incoming and outgoing calls, utilizing speech analytics solutions helps the call center in gaining clarity about its agents’ performance such as whether they are following the predefined script, mistakes committed while conversing with a customer and various others. Having such detailed information about their agents assist them in finding the most suitable remedial options that may help them in delivering the superior quality services to the clients.

2. Improved FCR Score

In a call center business, leaving a positive first impression on your customers is extremely important. And this can be ensured by providing the most appropriate solution for the customer on their very first call, better known as the First Call Resolution (FCR). While being knowledgeable about the company’s products and services is important, this rate can be improved a lot more by using speech analytics solutions.

Resolving a large number of queries at the first go helps in decreasing the volume of calls received during the busy hours of the day. This, in turn, is a great way to eradicate a major performance issue while improving the customer satisfaction score.

3. Developing Predictive Models

Requesting customers who are not satisfied with the assistance offered by your customer service agents to share their feedback via a survey form is a mere wastage of time. Since they are not likely to do it, a lack of feedback from all your customers creates a loophole in the feedback collected about the customer satisfaction level.

Being aware of the causes that are leading to dissatisfaction among the customers is important. This would enable you to take the necessary steps to improve your customer service and in turn, improve the customer retention score.

Identifying these issues is no longer tough with advanced speech analytics solutions. Helping in detecting the negative emotions expressed by the customers and their causes, speech analytics helps the brands in building predictive models to rectify their mistakes and take preventive measures.

For instance, speech analytics can help you identify the key phrases and words used by the customer and reflect their frustration with your service. This can, then, be used to create an action plan to avoid committing such mistakes in the future.

4. Optimizing Self-help Content

A customer calls a customer support agent mostly when other modes of communication fail to help. Therefore, it is important to fix all such errors and look for ways that can optimize your help for them. Helping you realize the loophole in your voice support system, speech analytics is a powerful tool that tells you directly about the issues in your digital support system.

Speech analytics lets you know the common terms that are used by the customers when sharing their problems. This is possible owing to the tool’s ability to mimic those words and phrases used by the customers to ask their questions. The information available by using this tool can, then, be used to make the self-help content better and improved for the customers.

5. Improved Sales Techniques

With speech analytics tools, it gets easier to compare the terms, phrases and other relevant content exchanged between the agent and the caller. This analysis helps in determining the most significant words and phrases that can help in attracting sales and understanding the most effective practices. For instance, there can be certain phrases that are likely to generate interest for the product among the customers. Therefore, planning to use these phrases smartly during a conversation with the customer can be helpful in generating better sales leads.

Speech Analytics Can Be Your Good Luck Charm

The scope of using speech analytics solutions is wider and large. It not only helps in improving the customer experience but also in reducing the cost, time and effort borne by the company to attain maximum customer satisfaction. This is why the technology has been readily accepted by the majority in the market.

If you too are planning to use this technology to benefit your company, make sure that you conduct a thorough analysis of your present business situation and requirements. This would not only help you in making a smart choice but also an intelligent decision to rely upon.