February 2, 2019

Speech Analytics Drives Customer Experience Improvements

Speech analytics is a powerful business intelligence tool that delivers accurate insights companies can use to make business-critical customer experience improvements.

Consumers today interact with companies across multiple channels, from phone and email to text, social media and chat. For this reason, understanding the customer journey can be a challenge. But this information is vital for retaining existing customers and attracting new ones. Businesses that are adept in customer experience management gain a competitive advantage. By understanding their customers’ behavior, they can develop smarter CX strategies. Voice recognition and speech analytics are at the forefront of understanding the customer journey. This technology provides vital information in near real-time, as well as after interactions. The technology can help improve customer experience in several ways:

1. Data Mining

With call interaction management, keyword tracking and automatic transcription of customer conversations, speech analytics provides multiple advantages. Conversations can be mined for data around positive or negative sentiments, insights on agent behavior, customer preferences and even “dead air.” In these ways, speech analytics can quickly and accurately identify brand strengths and weaknesses and help businesses efficiently reach goals for increased sales, improved customer service and greater ROI.

2. Reduced Operational Costs

By highlighting where processes fail or succeed within an organization, speech analytics can identify cost savings and can be used to enhance team performance and productivity.

3. Increase Sales

Because speech analytics provides near real-time data, it allows management to support agents with better responsiveness, conversions and issue resolution. What’s more, agents can design personalized up-sell and cross-sell opportunities while a call is in progress based on past data and current conversation.

4. Track Marketing Campaigns

Speech analytics can be used to track customer demographics and other information to determine the impact of marketing campaigns. Based on these insights, companies can evolve their product offerings and features to better suit customers. What’s more, they can create more effective marketing strategies.

Knowledge Rhino brings high-quality data analytics solutions, including speech analytics, to a diverse range of customers. For a FREE consultation contact us today to learn how our solutions can help drive business improvements like CSAT, churn, labor costs and more.

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