Listening to your customer has always been an important part of great customer service. Paying attention to feedback, survey responses, and social mentions gives companies a deeper understanding of what their clients need. So, what if you could go beyond the basics of listening to your customer’s words and start analysing those utterances instead?
Set to reach a value of around $3.8 billion by 2025, the global market for speech analytics is growing at a record pace. Providing an insight into not just the words your customers say but how they say them and what they really mean to your company, speech analytics is transforming the way we approach CX.
Let’s take a closer look at how the right analytics can have a significant impact on each interaction with your customer.
Speech Analytics and Understanding Your Customer
Mining through conversations for crucial data is a wonderful way to boost your chances of successfully understanding your audience. Speech analytics allows companies a behind-the-scenes look at what their customers are really thinking and feeling during interactions. Some analytics tools are more complex than others, but most can boost CX by:
- Offering insights into sentiment: Natural language tools use AI to pinpoint evidence of certain emotions within a conversation. An automated system can instantly tell you whether your customers are happy in a call or not. These tools can also predict things like CES, C-SAT and NPS scores from every interaction. If you notice sentiment diminishing in a call, agent supervisors can also step in and rectify the issue
- Explaining the customer journey: Analytics give you an insight into the questions your customers usually have before making a purchase, and the kind of conversations that lead to a sale Collecting voice and conversational data ensure a better view of the full end-to-end customer journey. You can even combine insights from multiple environments to see why customers switch from phone calls to video, or instant chat
- Identify at-risk customers: Interaction and speech analytics can identify the root causes of customer dissatisfaction, and how agents might handle those problems. You can see where your customers begin to lose their trust in your brand. If your analytics identify words and phrases associated with churn, the agent can be alerted and given guidance in real-time on how to avoid losing the client
- Supporting agents: With access to better data about your customers and their preferences, your agents can deliver better, more relevant service. Speech analytics can make it easier for employees to immediately access relevant data about clients, relevant to their previous purchases or requirements. Supervisors can even track a call in real-time and detect when agents might need further guidance from a colleague
- Better training: Practice makes perfect, even when it comes to serving customers. Speech analytics improve your knowledge of your customers, so you can make better decisions about how to train your team. You may even use call recordings and conversations with personal details omitted as training opportunities
Unlock the Power of Analytics
It’s not just what your customer says that matters anymore, but how they say it too. Listening to your audience and reading between the lines of the conversations they have with your brand can make a huge difference to your brand reputation, and NPS score.
How are you using speech analytics to improve CX?