Let’s face it – it’s all about the Benjamins, right?
To ensure that your customers are happy, you can record your calls and then using speech analytics, you can search your calls to make sure your customer service agents are doing a great job.
Well, speech analytics can be used by many facets of an organization, including but not limited to Customer Service or Contact Centers. What about the marketing and sales department? Or the compliance department? There is so much knowledge contained within the conversations everyone at your company is having with your customers, and as a result, there is so much to learn and improve on.
Here are some ways the Contact Center can use insights derived from conversations, using speech analytics to get at those insights, in order to increase sales.
Squeeze Out More Revenue
By searching for keywords inside calls, an organization can extrapolate information from call recordings. For example, the marketing team can analyze market responses to particular products by searching across all calls where certain product names are mentioned. Marketing campaigns and promotions can then be modified using the knowledge gained in order to optimize revenue.
Customer Retention
Various speech analytic packages have the capability to identify customers at risk of defecting in near real time by predicting whether a customer’s dissatisfaction will lead to churn. By analyzing the interaction using searches to identify callers that ask to speak with a supervisor, cancel their service, or other elevating keywords, contact center managers and executive teams will know when, and what percentage, of their calls are at risk.
Sales Effectiveness
By searching across all interactions and identifying the successful calls which led to closed business, best practices can be rolled out to all sales agents. By identifying why certain calls are successful and determining any patterns which successful calls may have in common, companies can rework their training programs to make sure all agents are empowered with the knowledge they need to do the best job they can.
Up-Sell Opportunities
Speech analytics can be used to determine the volume and effectiveness of up-selling and cross-selling by identifying the number of calls where a cross-sale was attempted. Using a script, searches can be created in a speech analytics solution that match each key phrase your agents are required to say while on the phone with a customer. You can measure and track how compliant your agents are in asking for referrals, up-selling a new feature or product, and cross-selling add ons.
Learn more about the benefits of speech analytics, the difference between the types of available technology, and more by contacting us today.
