As regulation crack-downs, competition, and customer needs increase, financial institutions are facing tough challenges on many levels. As a result, these financial companies are looking for ways to drive long-term value and they’re finding that a renewed focus on delivering an outstanding customer experience is one significant strategy to distinguish their organization and grow market share.
However, providing a unique, stand-out customer experience for every customer depends on how well a company understands their customer’s wants and needs. It’s no secret that customers have grown financially and technologically more sophisticated as they’ve adopted constant connectivity with cellphones and tablets. They have more choices of who to do business with, more choices of where to voice their complaints – word of mouth, social media. And they are not beholden to one company anymore.
As service delivery has expanded across multiple channels including branches, call centers, the Internet, and mobile channels the business of serving customers, not to mention satisfying them, is particularly complex.
How does a company implement and manage this strategy change? With call recording and speech analytics solutions.
As they’re searching for new ways to achieve customer satisfaction, financial institutions are finding that the advanced speech analytics capabilities in today’s call recording technology can unlock a wealth of insights that are shared by customers every day through their call centers.
Using this combination of technology – recording and analytics on calls – companies can listen to their customers, and get to the depth of their needs to then deliver a defining customer experience.
Speech analytics is an integral tool that can help companies achieve this strategic goal of delivering exceptional experiences to their customers. This technology provides an affordable way to ensure regulatory and/or script compliance so that employees adhere to company rules and regulations during customer conversations. This mitigates liability risk and acts as a customer service training tool to help guide and improve agent performance in challenging situations.
The precision of a cloud-based phonetics search engine, using exact keywords and phrases from your script, will help pinpoint issues with compliance in recorded calls. Call recording also provides a jump on risk mitigation and the development of improved phone sales training programs to ensure 100 percent compliance.
By using speech analytics to mine recorded phone calls for script compliance concerns, your business can:
- Ensure a level of call center monitoring that is not possible with random sampling or manual call monitoring
- Save the compliance manager’s time by automatically exposing script compliance issues
- Provide insight for agent performance evaluations and training tips
- Enforce a consistent customer experience, which will improve customer satisfaction
Learn More About Speech Analytics
To learn other ways speech analytics and call recording can help your business achieve exemplary customer experience, contact a CallFinder Specialist at 1-800-639-1700 or request a live demo!