Speech analytics tools help companies understand more about their customers so that contact center agents can act on unstructured customer data collected during interactions. Today, speech analytics software goes beyond quality assurance to measure deeper, undisclosed customer information. When used correctly, speech analytics can give companies a competitive edge.
Identifying Customer Emotions with Speech Analytics
There’s a bright side to negative emotions like frustration and anger. When someone contacts customer service, something positive can result from the interaction, whether it’s improved customer satisfaction or insight from a difficult call. Speech analytics tools search unstructured data from customer conversations to detect emotion and stress levels by analyzing things like word choice and speech tempo. Conversations are analyzed in real-time to deliver data about calls from the start of the conversation through resolution.
4 Benefits of Speech Analytics
Speech analytics can improve a customer’s experience, inform contact center agent training, increase revenue and limit customer attrition.
1. Improving the Customer Experience
Improving the customer experience is one of the main reasons why companies use speech analytics. The software analyzes customer interactions to find reasons for the call that may be vague. Mentions of company products and competitor names and products can also be detected. Contact center agents are able to quickly understand what the customer needs so that they can start meeting those needs.
2. Managing Contact Center Agents
Speech analytics software helps to coach and monitor contact center agents. By tracking performance issues via speech analytics software, management can figure out where service quality needs to be improved. This influences both agent coaching and process updating, and is especially useful for lowering call volume and improving first call resolution. Managers are able to track things like how well calls adhere to scripts, call length, agent politeness and if regulations were met.
3. Increasing Revenue
Up-sell and cross-sell opportunities can be identified thanks to speech analytics software, which can lead to more sales. The software can also be used to learn how up- and cross-sell attempts affect customer satisfaction based on certain demographics.
4. Reduce Customer Loss
Customer attrition rates often go down after a company implements speech analytics. The software can determine when a customer is about to leave and then the agent can take the opportunity to personalize the service in an effort to get the customer to stay.