With an upsurge in competition among organizations across industries, the pressure has moved onto contact centers to deliver exceptional customer service. Providing a remarkable customer service has become the key determining factor for their success. To enable this, it has become vital for the contact centers to keep their team informed about the things that work best for them, ways to qualify prospective leads and diffuse customer churn issues. While there are contact centers that still follow the traditional ways to improve their business, there are others that have already chosen the smart way of attaining the desired output – Speech Analytics.
Speech analytics software allows real-time call data evaluation to derive actionable insights. With features like searching key phrases, product names, hold time, silent patches and others, the software assists the contact centers to identify their flaws and work towards improving their services. This, in turn, enables them to attain a reduction in cost and growth in revenue.
Innovative Technology To Enhance Agent-Caller Interactions
Helping you identify the habits and skills of the top-performing agents, speech analytics can serve as an excellent tool to improve the culture of the entire contact center. This tool enables you to analyze the agent-customer interactions and identify aesthetics like the tone of voice, relevant phrases, estimated age of the customer, and common queries raised. Assisting its users with accurate business information and reducing its total operational cost, this technology can assist in improving the overall call center productivity.
A few of the common ways are as mentioned below:
1. Improves Agents’ Adherence to Scripts.
By identifying how well the agents’ adhere to the predefined scripts, call center speech analytics software makes it easier to detect the flaws in their performance. It gets easier to know whether the agents are delivering their performance up to the mark or are unable to meet the expectations.
2. Identify Cross-Sell/Upsell Opportunities.
With speech analytics, it gets easier to identify whether an existing customer who is already buying another product would buy any additional products/services. This can be done by analyzing any call interactions between the customer and the agents. It gets easier to identify the most effective ways to close a deal, the type of products that were most in demand, development of training programs for the agents and the right ways to reduce the overall missed opportunities.
Use this tool to improve your sales conversion, debt collection, reduce customer churn rate, and be prepared for your competitors’ tactics.
3. Plan Strategies To Improve Service Quality.
It would get easier to know the things that work and doesn’t work for the customers. With speech analytics, you would know the aspects that can keep your customers happy and ways to attain them. For instance, your customer might be interested in a particular range of products whereas your focus is entirely on a different product range. In such a scenario, you would know the need of improving your service quality that, in turn, may also help you reduce operational costs by reducing call volumes and handling time and boost first-call resolution (FCR) rates.
4. Call Categorization.
A call center receives thousands of calls per day, and each call is related to a different query. With several agents deployed to handle these queries raised by the customers, you collect a complete database of the common customer queries. This database, in turn, can then be used for call categorization.
Categorizing this call data is very helpful to enable a smooth analysis of the agents’ performance, queries raised by the customers, to name a few. Having all this information readily available can make it easier to strategize better.
5. Assessment of Training Needs.
With speech analytics software, identifying the flaws in your contact center’s performance gets easier. This, in turn, makes it simpler to ascertain the training needs of the agents and the areas that need improvement. The weaknesses identified using this software can help one understand the areas where the majority of work needs to be done so that better outputs can be attained and delivered to the client.
6. Spot Recurring Issues.
Spotting recurring issues faced by the customers can be accomplished using speech analytics. The software can make it simpler for you to identify the common troubles faced by the customers and their frequency. It also becomes possible to track how the agents have tried to fix the issue or resolve their query. This makes it possible to enhance the performance of the contact center and be prepared for the future occurrences.
7. Boost Profits & Revenue.
With the help of speech analytics, it gets easier for the contact center to attain a boost in their profits and revenue. The tool makes it possible to reduce the cost of unnecessary callbacks by training agents to resolve customer queries in the first go. This also makes it possible to reduce the cost of quality assurance and monitoring of agents’ performance at work.
When there are a lesser number of issues in the contact center’s performance, it, in turn, leads to lower staff attrition rates and recruitment costs.
8. Improved Script Compliance.
In various government-controlled and regulated industries, it is essential for the contact center agents to stick to a predefined script. This is majorly owing to the abundance of sensitive information they deal with. Ensuring this compliance gets easier with speech analytics as the software can track and share insights for agents’ compliance with the script and performance at a high level. Doing so will not only ensure agents’ adherence to the script but also help in improving the scripts followed at the contact center.
9. Seamless Customer Journey.
The possibility of delivering a seamless customer experience increases with speech analytics. Using this software not only allows you to capture agents’ performance but also to navigate through your customers’ experience. This can help you understand the best ways to improve the customer experience, routing their calls to the right department and the best ways to increase their retention score. Doing so, in turn, can help in improving the chances of managing the contact center more efficiently and better manage the information flow.
10. Take Immediate Action.
The sentiment analysis of the callers as well as the agents gets easier with speech analytics. This makes it possible to detect the common flaws in the agents’ performance, level of customer satisfaction, number of queries resolved, etc. You can also strategize an action plan to quickly fix the issues and ensure that the better results are attained soon.
Optimize Your Business Processes
In this vastly competitive era, customers do not necessarily stick to the businesses making the maximum noise but to those who can listen to their voice. Therefore, the need of the hour is to make the most of the data collected through agent-customer interactions and implement the advanced technology tools like speech analytics to derive relevant insights. The technology can also assist in improving a number of agent-related metrics.
The analytics derived using speech analytics software is sure to transform the organizational efficiency and improve agents’ performance as well as customer satisfaction score (CSAT). In short, it is the right time for the contact centers to start using speech analytics and they are sure to reap benefits in the long run.
