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Why You Need It

For your business to be customer and bottom-line focused, you must have the ability to easily react to opportunities to maximize revenue, retain customers or reduce liability. With speech analytics you can quickly review large volumes of calls to identify ways to optimize sales and revenue opportunities, understand drivers of customer attrition or collect product feedback. This visibility into customer conversations also helps you rapidly investigate, quantify and act on potential risk issues as they arise.

How You Apply It

Speech analytics can provide a new source of intelligence in many areas of your business. Companies are always looking for ways to increase revenue and find new sales opportunities – analysis of customer calls can reveal untapped customer demand. Are those missed opportunities causing customers to defect to your competition? Reviewing customer mentions of your key competitors can help solidify winning strategies.

Customer feedback after a product launch can be quickly routed back to development where they can easily hear actual customer conversations describing both positive and negative aspects of their experience with the product. Marketing can monitor reactions to new messaging or campaigns. Compliance monitoring of regulatory and corporate policies provides an additional layer of security for your organization. Also, if you are outsourcing any aspect of your customer care, you can measure their effectiveness to protect your investment and your customer relationships.

How You Measure Success

The impact to your business by can be grouped into two areas – revenue increases associated with changes made and penalty avoidance/revenue loss associated with liability management and timely reaction to possible exposures.

Not sure where to get started? Follow these Four Steps to Speech Analytics Success to start transforming your contact center into a strategic source of business/customer intelligence and competitive advantage.