6 Reasons Customer Interaction Analytics Will Grow Your Business

6 Reasons Customer Interaction Analytics Will Grow Your Business

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It’s no secret that customer service and the customer experience are now the key differentiators between competing businesses. That’s why companies spend a lot of money on gathering customer data. But the most successful companies know how to use that data to ensure customer satisfaction and understand what motivates their customers.

Kohler is a good example of a company that used customer insights to better understand their customers and give them what they want. Not only did this help Kohler provide better customer service; it also gave them an opportunity to capitalize on the insights they gained to help grow their business.

Delivering a better customer experience starts with implementing solutions that automatically analyze the content of every inbound call. Capturing critical customer data – also known as business intelligence – will also help you assess and modify strategies for growth.

With that said, here are 6 reasons you should use customer interaction analytics to grow your business:

1. Boost Customer Satisfaction

Customer analytics tools, such as speech to text transcriptions, scan calls for key phrases based on specific business goals. For instance, you may want to uncover poorly handled calls, or how often an agent says “thank you” to a customer. All of this data gives you a better idea of where you land on the customer satisfaction scale. And it helps identify areas that need improvements in order to achieve better CSAT scores.

2. Increase Cost Savings

Identifying common issues on calls improves efficiency and ultimately saves money. Pinpointing periods of high call volume, or long duration and repeat calls helps managers schedule staff accordingly. It also gives them a place to start improving costly problem areas. Once you start reducing the “high-ticket problems,” such as average handle times and customer churn, you will have the extra time and resources to identify and address other issues hindering revenue growth.

3. Gain Competitive Intelligence

While customer analytics provides a vast amount of inside knowledge on your own business, it’s also a powerful tool for spying on your competitors. Capture the latest promotions, strategies, and messages that top competitors are pushing simply by searching call transcriptions for what your customers reveal about your competition. Then use this knowledge to adjust ad campaigns, marketing strategies, and other tactics to gain the edge over your competitors.

4. Improve Marketing Effectiveness

Automated transcriptions make it easy for contact center managers to keep a pulse on the customer experience as a direct result of their interactions with agents. But they also make it easy for the marketing team to track campaign performance, understand which promotions and key messages are most successful, and so on.

When gathering call data, sales and marketing teams can get as granular as searching for specific key phrases that led to more conversions. Kohler’s experience with CallFinder is another good example.

5. Reduce Customer Churn

Locating common key phrases that go hand-in-hand with a successful sale means that you can also uncover common phrases associated with cancelations. Understanding why customers leave is the key to reducing churn. It’s that simple. Gaining clear insights into why customers leave will tell you what changes are necessary for keeping them on board.

6. Create Scripts That Create Sales

Customer analytics data helps managers fine-tune agent training programs focused on sales. But this data can also help you write better sales scripts. CallFinder is proven to uncover trends that lead to more conversions. When you develop scripts based on those trends, you get more conversions and more sales. In addition, you can use CallFinder to monitor script compliance and train agents to use the language that leads to more sales.

There you have it – six reasons your business will grow using valuable customer interaction data.

Learn more in a 15-minute demo of 800response and CallFinder’s customer interaction analytics solution. Stop wasting time and resources and start growing your business – book your demo today!

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