5 Benefits of Speech Analytics for Your Business
The average call center with about 500 agents produced 2,000 hours of recorded calls per day, according to Speech Tech Magazine. In order to really understand the customer and their journey, speech analytics processes every word of a customer conversation by turning each word into data that can help inform your decisions and call center operations, and improve the customer experience.
Speech analytics can help create opportunities within your company to uncover insights by analyzing customer sentiment. Here are five benefits of adding speech analytics to your enterprise’s call center software.
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1. Reduced Agent Stress
Your agents are typically the first point of contact with anyone in your company, and speech analytics allow your agents to provide the best possible customer service by giving them insights into customer behavior and activity. Speech analytics takes the unstructured data from recorded calls, emails, chat transcripts and other customer interactions and matches it with structured metadata, like which agent handled the interaction, who the customer was, the time of day the call occurred and the length of time of the call. Speech analytics can detect agitation in the voice, as well as loudness, tempo and silence. Having all of this information at their fingertips helps reduce agent stress in the long run because they’ll be able to draw from the data they have to better serve your customers.
2. Higher IVR Containment
Speech analytics can also help improve IVR containment, meaning the percentage of calls completed within the IVR without needing to be forwarded to a customer service representative is higher. Higher IVR containment means less time your agents spend resolving issues that could easily be handled by the IVR system and results in increased productivity. Speech analytics makes it easier for your agents to do their jobs by giving your contact center software more data and insights to work with to help improve every customer interaction before they even need an agent.
3. Increased First-Call Resolution Rates
Because speech analytics helps you better understand the customers’ needs and history, your agents will be able to resolve many customers’ issues on the first call. That means increased first-call resolution rates and a better overall experience for both your agents and your customers. Speech analytics can also give you a better idea of the quality of your agents’ performance, allowing you to either reward them or help them improve. You can make use of an FCR software which includes the speech analytics in assessing an FCR.
4. Reduced Quality Management Costs
Your call center managers can use speech analytics to monitor your call center agents and your customers at the same time. Managers are able to track whether agents are following the scripts to ensure that regulatory requirements are being met. With speech analytics, managers can easily coach your under-performing call center agents and help reduce quality management costs, as well as call volume. Software like this can also help your managers identify the difficult customers or calls and create special workflows for handling those kinds of calls, which helps streamline the entire process and provides a better experience for customers.
5. Improved Customer Journey
Once all of the data, including the transcription, the acoustic properties and the metadata are normalized into a consistent format across multiple channels, your agents are able to better understand and follow the customer journey. That means they’ll be able to determine where each customer is in the journey so they can help get them to the next stage and closer to closing the sale. Speech analytics also helps reduce customer attrition by making it easy to do business with your company.
Integrating Speech Analytics
Speech analytics is a great addition to any call center software because it helps reduce agent stress and quality management costs, and it increases IVR containment and first-call resolution rates. Using speech analytics also helps improve the customer journey by providing the right data at the right time. Find out how to implement speech analytics into your organization’s call center software today.
