Improving customer experiences is one of the important areas of focus for leading brands. While it is the responsibility of the entire organization to ensure quality customer experiences for sales and support services, the team contact center agents is the front line for quality interactions.
In this modern era, pricing or products are no longer the only key differentiators, but rather, it is the overall experience that brands provide their customers which makes a remarkable difference and keeps them coming back for more. Technology helps organizations improve customer loyalty and experiences, without compromising on operational efficiency. But how does speech analytics revolutionize customer service experiences? Let’s take a look.
Why Speech Analytics?
Customer interactions are often referred to as gold, as they contain important information such as customer preferences, competitor insights, and actionable analytics. These valuable insights often go unnoticed without the use of speech analytics.
Speech Analytics is critical for the success of call centers. By having a partnership between experience and technology, you can drive transformation across an organization, from agent coaching to product improvement, and marketing opportunities. Some of the key benefits include:
- Identifying Customer Insights
- Reducing Operational Costs
- Improve Agent Performance
- Identify & Reduce Knowledge Gaps
- Improve Overall Customer Experiences
Want to know how speech analytics makes a massive impact on the contact center’s performance?
Register for Etech’s Webinar on May 18th for a FREE Live Case Study and Discussion.
Key Challenges of Contact Centers
The two major factors that haunt the contact centers are:
1. Agent Retention
- We invest so much in coaching call center agents but due to the nature of the job, attrition rates in call centers are very high.
- Many organizations have a large pool of training resources that fine-tune agent responses but how do we know if those metrics by which we measure those interactions are correct?
- By using speech analytics technology, organizations can identify specific areas where agents require help & then receive targeted coaching, which not only saves a good deal of training time but also motivates call center agents’ performance.
2. Customer Sentiments
- Many organizations claim to have some sort of quality monitoring process but how can you know your quality monitoring parameters are effective?
- One of our customers was monitoring agent performance based on the number of times an agent says a customer’s name, believing this to be a way of providing a personalized customer experience. However, when we applied analytics to these interactions, we learned that using a customer’s name over and over was having the reverse effect, causing customer frustration rather than a pleasant experience. These insights allowed us to make positive changes based on information gathered using speech analytics.
- Are your quality monitoring parameters effective? How do you know?
- Do you know the massive impact speech analytics can make on your revenue if we improve Customer Sentiment by only 1%?
You can look at the FREE live case study during Etech’s Webinar on May 18th.
How to Implement Speech Analytics?
In the era of Industry 4.0, organizations are searching for solutions that can resolve their current challenges. While organizations are reducing their expenses, it is of utmost importance to keep customer satisfaction rates at a high level.
Etech helps over 50+ companies find solutions that make the difference by overhauling their current scenarios. The following is a step-by-step process on how they are doing it:
1. Alignment with Business Goals
Identify what things are required to digitalize? Is it Operations, quality, sales, marketing, or maybe even all of the above? Based on your specific requirements, you must identify where digitization is most needed and align those initiatives with your business goals.
2. Set Objectives & Goals
Chart out a parallel course for your existing and desirable processes using the right digital tools. Are there any gaps? If so, resolve them. Without aligning your As-Is and To-Be business processes, your digital transformation may fail!
Further, define your objectives and goals for the AI initiative. This will help you effectively frame an appropriate plan of action to achieve certain benchmarks.
3. Prioritize your Initiatives based on ROI
How would you measure the success of your AI initiative? What are the benchmarks and what numbers will define success or failure? Compare the returns to your investment in AI and ensure the process is optimized, whenever required.
4. Aligning Cross-Functional Teams and Effective Change Management
Any digital initiative fails without participation from employees. So, bring all your team to the table by demonstrating the benefits of using AI technology, offering help for adopting the technology, and guiding them until they become experienced in processes and solutions. This is the key to success for any digital transformation initiative.
5. Emphasize Data Security
For organizations going digital, the main concern is data security. In this era, a data breach can have a huge impact on a company’s reputation, revenue, and customers. Organizations should choose wisely when selecting a solution provider that stores data on a secured cloud, making sure they provide excellent data security.
6. Transforming the initiatives into a Long-Term approach
The approach for digitization shouldn’t be only to take preemptive measures. Companies must have a long-term approach for continuous optimization of business processes. A long-term approach will likely result in the automation of repetitive tasks, seamless connectivity, and safeguarding critical data while working remotely.
Do you want to learn more about how speech analytics can drive transformation at your contact center? Register for Etech’s FREE Webinar on The CX Strategy: Igniting Performance with Deep Analytics. This 18th May at 11 am CST | 12 pm EST.
This Blog was earlier published on LinkedIn