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Speech Analytics: Use It To Improve CX

Blog

February 23, 2023

Retail

Customer Analytics

We understand that delivering an omnichannel CX that is personalized, relevant, and authentic is hard work. But it can be incredibly rewarding when done right. 

If you want to stay ahead of the curb, your business must support customers consistently across all channels. And one way to ensure a seamless customer experience is to use speech analytics to analyze customer interactions.

Speech analytics is the process of using technology to convert spoken words into text so that they can be analyzed. This text can later be used to generate insights that can help improve the customer experience

In this blog post, we will explore how businesses can leverage speech analytics for better CX. We will look at how speech analytics can be used to understand customer sentiment, identify customer pain points, and improve CSAT scores.

 

What’s Speech Analysis?

Speech analytics means using speech recognition software to analyze support agent recordings or even live consumer calls to provide quality assurance. It is primarily used to improve the customer experience, drive customer satisfaction, and uncover customer insights.

Speech analytics is based on Natural Language Processing (NLP) technology, which is a field of artificial intelligence that enables machines to understand human language and extract meaningful insights from conversations. Traditionally, this technology was used mainly for voice biometrics (i.e., identifying people based on their voice). However, it has now been adapted for a variety of customer experience-related tasks.

 

Speech analytics will revolutionize CX. Here’s how:

Speech analytics provides your business with insights that can help you make informed decisions about how to better serve customers. Get access to customer insights that simply aren't available from other sources. Speech analysis will reveal several opportunities for you to improve operational efficiency and agent performance.Better-CX-With-Speech-Analytics

You use it to detect trends in customer conversations or get a deeper understanding of customer sentiments. You can also identify underlying issues like lack of agent knowledge and address them in real time.

Some businesses are also using speech technologies to transcribe their customer calls and save transcriptions as notes in their CRM platform. By doing so, not only are they maintaining a record of past conversations but also building a database that can be used to create an intentional CX strategy.

The results include significant cost savings and high CSAT scores. Companies that fail to leverage this information risk falling behind their peers. Speech analysis reduces average handling time and speeds up issue resolution.

Unleash the Power of Speech Analytics Today

To use speech analytics to improve customer experience, you must first integrate it to your contact center. This means your businesses must have the right technology infrastructure in place to support speech analytics, such as a digital contact center platform. Additionally, you must also have contact center agents who are properly trained in using speech analytics to optimize customer interactions.

Once their contact center is set up, you can start collecting customer data. This can be done through voice recordings of customer conversations, surveys, and other feedback channels. The data collected must then be analyzed using speech analytics software to uncover insights. This data can then be used to inform decisions and strategies related to improving the customer experience.

Post-call Speech AnalyticsReal-time Speech Analytics
  • Post-call speech analytics tools are critical for quality control because of their prescriptive nature.
  • Key index parameters like frequently asked questions or repetitive problems can be identified.
  • Track agent performance and replies to automate workflows.
  • Monitor the frequency of words used in consumer calls to determine how frequently these problems surface.
  • Real-time speech analytics tools help you keep an eye on current conversations.
  • This can aid in your agents' awareness of a caller's actual purpose as well as their true sentiment.
  • Agent performance can be enhanced with real-time coaching.
  • Ensure compliance and automate quality assurance processes to lower the likelihood of SLA violations.
Conclusion

Speech analytics is a powerful tool for businesses who are looking to improve their customer experience. Businesses can use speech analytics to get a better understanding of customer sentiment while uncovering customer pain points.

It also provides businesses with actionable insights that can be used to optimize their customer experience strategy.

Don't know how you can leverage speech analytics into your cloud contact center? Let us guide you.  

Reach out to us at: [email protected] and we'll work with you to create a CX strategy that intentionally utilizes speech analytics for good!

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Gans Subramanian

Managing Partner

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