Every time a customer makes an effort to reach out to your business, they hope to speak to a friendly, knowledgeable person who is patient enough to help them find a solution to their problem. According to a report released recently by Walker Information, customer experience is set to overtake product and price as the central brand differentiator. And with 86% of buyers willing to pay a little more if that would mean experiencing better customer care, companies should have more than enough motivation to invest in excellent customer experience.
For many customers, customer care is somewhat synonymous with call centers. Call centers are the go-to path to a solution that up to 79% of customers choose in their attempts to speak to a company about a complex problem they’re facing. For this reason, businesses cannot overestimate the need to set up a competent, well-trained customer agent team.
Voice Analytics for Game-changing Insights
As businesses seek to transform their customer care, voice analytics has become a worthy investment. Voice analytics data is growing in value in just about every type of business. Many of them see it as a business intelligence tool capable of delivering game-changing insights that can positively impact their bottom lines. Current projections of the voice analytics market put its value at a whopping $1.64 billion by 2025.
From healthcare companies to technology firms, businesses in a growing array of industries are molding their customer experience around voice data. For call centers, a focus on voice data is changing how companies listen to, understand, and interact with their customers.
According to a research report by Technavio, voice analytics, and speech analytics will offer business enterprises the ability to adapt to rising consumer behavior trends. Voice analytics will help you better understand your customers’ perspectives through their voice and tone. Their pitch, timbre, loudness, pauses, and speech rate can all help assess whether the conversation with your customer care reps is a negative or positive experience for them.
Real-time voice analytics solutions help businesses understand the subtle, complicated conversations that their customer care reps have with their customers. For instance, a customer could use a word like “excellent” to describe your customer care yet be unhappy and dissatisfied with the experience. A voice analytics solution would help you know that. You can then use that information to make improvements.
Searchable Customer Care Databases with Speech Analytics
Speech analytics, on the other hand, revolves around the content of a business-customer conversation. The technologies in this space are designed to dig deeper into what a customer said, the response they got from your customer care reps, and the context of the conversation.
To get this information, the speech is converted into text or through phonetic indexing. The end result of this process is searchable databases of everything customers and associates said in every conversation they had.
For example, a customer could call your customer care with complaints about an apparent erroneous charge on their credit card. Through speech to text technologies and the databases created, you can search for specific words and phrases that the customer used, such as “unexpected fee” or “inaccurate charge”.
You can also check whether the issue was resolved by searching for your customer care rep saying “resolved” to determine if the customer received the solution they needed. By strategically identifying phrases and words used in a given conversation, speech analytics can help business leaders make more data-based decisions that improve their companies’ quality assurance.