Benefits of Speech Analytics for Call Centers
Call centers across industries can experience a range of benefits by using speech analytics. This includes:
Understand customer needs better
Rather than relying on a small sample of calls that can be manually analyzed, speech analytics assesses each and every call to give you a more accurate perspective on how your customers feel about the brand and what they want.
For example, your managers may have assessed 10 calls and found that all these conversations were centered around opening a new store in India. But, with automated speech analytics you may realize that the remaining 90 calls were from customers wanting a new store in Germany. Similarly, it helps assess what customers like and dislike the most about your service and increase sales.
Improve conversion rates
By helping you understand customer sentiments, speech analysis empowers agents to personalize interactions and build a better rapport with the customers. They can then leverage this rapport to cross-sell or upsell products and services.
It helps increase the chances of conversion as well as the overall customer experience. The software can also pinpoint keywords and responses that work well with specific customer demographics.
Improve resolution rate
If your agent misreads a situation and responds to a sarcastic statement with a joke rather than empathy, the customer is likely to get more irritated. Understanding the sentiment behind a customer’s call can put agents on the same page as them and helps avoid such instances.
The customer service agent is better equipped to respond to situations correctly and resolve their issue on the first call. Ultimately, a higher resolution rate reduces the overall call volume and gives your agents more time to spend on each call.
Reduce customer churn
There will always be customers who switch to competitors and unsubscribe from your mailing lists. While this is not completely avoidable, understanding the reasons behind this can help reduce customer churn. Speech analytics helps highlight keywords and themes that are causes of concern with respect to customer engagement and satisfaction. For example, if you see a pattern emerge where the words ‘cancel’ and ‘late delivery’ are used together, improving your supply chain may help keep customers from leaving and retain their loyalty.
Spot industry trends
Just as the products offered by your company need to keep up with market trends, so does your customer service team. Speech analytics helps identify trends in customer expectations to keep your call center in tune with the industry.
For instance, a speech analysis tool may highlight a growing number of conversations where customers of a flat-pack furniture brand ask for video tutorials of product assembly. Further study may identify an increase in the number of customers seeking self-service tools. Armed with this data you can work on developing such tools and keep your customers happy.
We’ve already talked about how speech analysis helps improve call resolution and, in turn, makes call center agents more productive. In addition, it also boosts efficiency and productivity for managers.
Managers can now tell which agents require more hand-holding and which agents are doing well on their own without having to listen in to calls being made by everyone. This also helps avoid micromanagement and lets managers use their time more productively.
Track agent performance without bias
One of the biggest issues with manually assessing agent service is having a biased opinion. For example, a manager may assume that an agent is taking longer to resolve an issue simply because he is speaking to an elderly customer. However, in truth, it may be because of a language barrier.
Automated speech analytics bypasses such biases completely and helps track agent performance according to standardized KPIs. It lets managers know at a glance how well each agent is doing and helps spot deviations from call scripts that work as well as those that don’t. This insight can be used to alter scripts and make them more effective.
Ease quality management
Every call center is constantly working towards improving the level of customer service offered. This is one of the areas where speech analysis plays a pivotal role. It helps assess how agents are doing and what scripts can be followed as is and what scripts are being frequently changed.
Here’s a very simple example, let’s say the city changed the name of a street but the call center script still lists addresses with the old street name. With speech analysis, managers will be able to identify company agents having to make this deviation from the script. They can then update the script to maintain uniformity across all communication.
Rather than take a hit-and-try approach towards introducing new customer service features or base decisions on a partial view of the customer’s needs, speech analytics gives you access to information that can help make wiser, more strategic decisions.
You are able to invest in developing services that are more likely to be profitable. You can also spot industry trends and shifts in consumer behavior in advance. This keeps you prepared and lowers the risk of losses.
Speech Analytics Call Center Solutions
Given the important contributions speech analysis can make to the everyday functioning and overall quality standards of a call center, it isn’t surprising to note that there are many tools available for speech analytics. They vary in terms of not only pricing but also the scope of analytics provided, processing speed, accuracy and ease of operations. If you’re looking for speech analytics tools for your call center, here are the top 3 best options you should consider.
Lettria is the leading speech analytics call center solution provider. It uses a platform-based approach with 15 pre-trained and customizable multilingual models. Lettria’s low-code customizable nature makes it capable of delivering advanced sentiment analysis with high levels of accuracy.
This is one of the reasons for its popularity. The second is the way Lettria analyzes speech. It goes beyond the basic positive, neutral and negative emotions to grade sentiments according to 28 emotional values. Lettria breaks the analysis into 2 steps.
Step 1: It identifies the adjectives and adverbs within a statement to detect a base sentiment. It is then graded from -1 to 1 according to the emotional elements or sentence-level comparisons.
Step 2: This brings us to step 2 where the AI processes the context of the statement. Thus, it not only evaluates the statement's polarity but also determines the emotional value of the statement.
Calabrio is a workforce performance software that uses Artificial Intelligence to understand the needs of a customer and anticipate demands based on interactions with your contact center. It brings all contact center data to one interface so that everyone is connected. Further, it provides analytical data that aids in taking measures required to meet customer expectations and increase agent engagement.
The CallMiner platform for speech analytics helps capture, analyze and understand the emotions behind what the customer is saying. It uses AI-powered speech analytics technology to extract data from telephone conversations as well as emails, chats and social media interactions, classify it as positive or negative and deliver insightful reports.
Boost Your Call Center Performance with Speech Analytics Today
According to a McKinsey paper, speech analytics can help call centers save up to 30% in terms of their costs and improve customer satisfaction scores by at least 10%. Speech analysis benefits apply to call centers across all industries and are especially effective for cloud contact centers.
With AI tools like Lettria, you can gain insights into customer needs that are unavailable elsewhere and identify opportunities to improve agent performance, operational efficiency and more. Explore the platform today and see how it can benefit your organization’s call center.