Reveal essential customer insights with Speech Analytics
Your competitive advantage often depends on anticipating and addressing market needs faster than the competition. There are few things that can tell you more about your business and market than the voice of your customers. Call recordings are a gold mine of rich insights about customer satisfaction and churn, competitive intelligence, service issues, agent performance, and campaign effectiveness.
However, the sheer volume of phone calls can exceed your contact center’s ability to manually review and analyze them. A manual review can only process a fraction of calls using unsophisticated analysis.
Now is the time to unlock the valuable intelligence held in your recorded calls. Read on to find out how and why.
How it works?
Right out of the box, Verint Speech Analytics provides sophisticated conversational analytics. This will automatically identify, group, and organize words and phrases spoken during calls into themes, which reveals rising trends and areas of opportunity or concern. Going beyond merely isolating words used repeatedly during a specific time period, Verint’s conversational analytics can identify and group words that are different but contextually related to a particular topic, such as relating overage, minutes of usage, and late charges to “fees”.
With this innovative functionality, you can quickly build categories that reflect current customer issues and concerns across thousands of calls, helping you take action right away. You don’t even need to tell Verint Speech Analytics what to look for – the solution will identify themes automatically, continually refine them and add new themes over time. It’s a practical and powerful way to help you continually stay on top of customer perceptions and what’s being said during calls.
Additionally, you can process up to 100 percent of calls – a benefit for compliance scenarios – and provide results within seconds. The solution can categorize call content with high accuracy, including accents, dialects, and slang, and can be customized to accommodate specialized words, such as industry terminology.
By deploying Speech Analytics, you will:
- Gain a deeper understanding of the meaning and context used in conversations.
- Get a deeper view into customer journeys, wants and concerns – and be able to take targeted action quickly.
- Receive insights about improving agent performance, call handling efficiency and accountability.
- Reveal process-related opportunities, points of failure and technology barriers.
- Accelerate speed to insights and return on investment with a solution designed to facilitate ease of operation and expansion.
- Optimize your customer engagement and omnichannel service strategies across assisted and self-service channels
The positive impact of real-time Speech Analytics:
1.Compliance with regulations and policies
Comply with government regulations, industry mandates and internal policies.
Example: Missed or improper ID verification and disclosure failures.
Benefit: Avoid costly fines and penalties and reduce the risks associated with liability exposure.
2.Increase customer retention and first contact resolution
Deliver timely guidance to employees to retain customers and resolve issues.
Example: Prompt employee to offer special credit to premium customer based on complaint heard and selection/entry of “Product Complaint” in CRM desktop screen.
Benefit: Lower customer churn and the associated high cost of acquiring new customers to sustain growth.
Deliver nuggets of interaction-relevant knowledge to the employee desktop.
Example: Provide answers on country-specific international calling plan based on customer request and selection of country on CRM desktop screen.
Benefit: Avoid hold-time searching for the correct answer, thereby reducing the handle time and cost.
Identify cross and upsell opportunities.
Benefit: Prompt employees with relevant promotions and complementary products and services.
Alert supervisors to specific issues such as use of profanity and/or escalating emotion.
Benefit: Immediately listen-in and intervene to provide in-the-moment corrective action