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Record and Analyze Calls to Reduce Abandon Rates and Customer Churn

August 08, 2013 by Morgan Pulitzer - Last Updated: June 05, 2019

It’s a fact that doesn’t really need to be stated – no one likes to wait on hold when they call your company, or any company for that matter. You don’t like to be placed on hold, do you?   Well, neither do your customers. Reducing abandon rates, and thereby losing potential sales, is a challenge for many companies that operate either internal call centers, sales and customer service departments, as well as for companies who may outsource their inbound calls to an external call center.

Why are abandon and churn rates important? These metrics speak to customer dissatisfaction and the negative impact it has on the customer experience that your company is providing. As is stated frequently, it’s less expensive to keep existing customers happy rather than acquire new ones. According to callcenterhelper.com, 6/10 customers have ditched a company because its telephone customer service has been so bad.

Search & Analyze Call Recordings for Insights to Reduce Abandon and Churn
If you are not monitoring calls by recording and mining them to identify problems, then you can’t fix the problems. Call monitoring solutions – like call recording with speech analytics – will provide you with a wealth of information and insight into your calls.

How the call was handled from the start, how many times the caller may have been transferred before they finally hung up, and why a caller may be cancelling their account, are all insights into how your contact center/call center/sales/customer service teams are interacting with your customers. Access to this call data, and customer data, helps you make informed decisions on how to overcome the challenge.

Great customer experience is the key to improving and growing your business. With the right technology in place, you can record and listen to your incoming calls to monitor call quality and script compliance and hear customer interactions first-hand. You’ll gain access to “the big picture” with statistical summary reports, call categorization. And you will be able to use the data as a workforce training tool to address the challenges, fix the problems, reduce abandoned calls and customer churn.

For more on how call recording and speech analytics technology will help you identify challenges, capture the call data, listen to the voice of your customers, and make improvements to operations, take a tour of our cloud-based, phonetics search technology. Contact us to schedule a live demo today!

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