Conversational Analytics / 03.12.2020

Speech Analytics Can Improve CX and Business Outcomes

Contact centers today are considered customer experience (CX) hubs that focus on delivering a delightful experience and building positive relationships. The volume of customer insights that contact centers hold drives insights to optimize the experience continually. The million-dollar question, though, is – how best to unlock these insights from the large data volumes? The answer – speech analytics. Let us delve into how speech analytics can pave the way for better CX and favorable business results.

Speech analytics can do root-cause analysis and help us learn more about what drives higher CSAT scores. It is possible to identify triggers for various CSAT scores. Leveraging Artificial Intelligence (AI) and Machine Learning (ML) to parse millions of customer conversations, speech analytics can predict trends in conversations and deliver better human cognition.

No matter how cliche it sounds, customers today are short of time and have the attention span of a goldfish. A single undesirable incident or unfavorable customer interaction with the brand can mar deep-rooted customer relationships that took years to build. Speech analytics, or real-time speech analytics, to be specific, can come to the rescue here. It is possible to identify words, phrases, or sentiments associated with negative customer experiences and alert agents in real-time. The agents can then take corrective actions instantly and safeguard customer relationships, thanks to real-time conversational analytics working in the background.

Real-time speech analytics can guide contact center agents to take the best course of action while servicing customers. That way, agents can strive to exceed customer expectations by anticipating needs and offering superior customer service. Ultimately, it leads to better NPS, and there is no better promotion than word-of-mouth.

Customers are continually sending you signals about how they perceive your brand via various digital channels, be it on Twitter, online forums, or webchat. It is incumbent upon you to listen diligently. Conversational AI solutions can scour the internet for customer feedback and advice around the clock. Analyzing these customer reviews holistically can give you a head start in serving customers better. Customers, today more than ever, expect you to know the context of their interaction and want solutions in near real-time. Thus, speech analytics can help you deliver a 24/7, omnichannel customer service experience.

Research shows that most contact centers analyze between 1% and 3% of customer conversations for quality assurance purposes. That is inadequate if you are serious about improving customer experiences. Brands have dedicated channels to solicit customer feedback, like some surveys or review sites. But the crux of the matter is that customers often forget the context or content of their discussion with the customer care agents. Thus, insights derived from solicited customer feedback do not reflect the real voice of the customer. Marrying the unsolicited feedback hidden in millions of hours of customer conversations with the solicited one can provide exemplary results. Thus, speech analytics capability is indispensable if you are serious about listening to your customer’s real voice.

An often-overlooked aspect of contact centers is that your agents are as good as you train them to be. Providing agents with additional coaching on how to flip negative customer sentiments into positive experiences is priceless. The same speech analytics solutions that help you uncover hidden customer insights can help you design customized agent coaching programs based on how the agents interact with customers. It can be a powerful way to provide agents with the right guidance to polish their listening skills, inculcate a sense of empathy towards customers, and strive to provide real solutions to pressing problems. Now that is akin to turning a customer frown upside down. That rings the cash register in the grand scheme of things!

Learn how Uniphore can help you deploy speech analytics to improve CX now!