Speech analytics software is a market research tool that quickly provides businesses with data that can be used to improve business processes. It allows businesses to search conversations for key phrases to truly understand the voice of the customer. Because cloud-based solutions are now an option, speech analytics is accessible to companies of all sizes and across many industries due to its affordability. Using speech analytics software, companies are able to extract critical business insights contained in customer conversations to overcome common business challenges including the following:
Inefficient agent training
Call center agents are speaking with current and potential customers all day long. They have the power to bolster customer relationships and earn loyalty through their excellent customer service, or do the complete opposite if their skills aren’t up to par. Speech analytics software allows managers to monitor agent performance. Searches can be defined by specific agent using employee tracking codes. This allows managers learn what’s working and what’s not. The data extracted from these conversations can be used for future training purposes, improving agent performance overall.
Missed sales opportunities
In a sales environment, sales agents must seek additional sales opportunities during every call, without being too pushy or completely turning off the customer. Sales managers can use speech analytics software to mine calls for mentions of up-sells and cross-selling techniques, to ensure that sales agents aren’t missing out on potential sales opportunities.
Irrelevant marketing campaigns
Speech analytics software data doesn’t only benefit the customer service and sales teams. Its benefits are far reaching. For example, the marketing team can mine calls and search for keywords related to a particular product or new campaign launch. The calls that contain these keywords can then be monitored to see what customer response to the product or campaign is. Depending on what the feedback may be, the marketing team may choose to alter their approach.
In some highly regulated industries, organizations must ensure that agents are compliant with rules and regulations during customer conversations. A compliance officer can use speech analytics software to monitor calls to determine whether essential statements are delivered, which ensures that the company is maintaining compliance during each call and can prevent disputes. The data can also be used to train agents how to handle these potentially challenging situations.
Speech analytics software is a worthwhile business investment. At an affordable rate, it provides businesses with important insights that can result in improved company procedures and a better customer experience.