Why Your Business Needs Speech Analytics

Why Your Business Needs Speech Analytics on a Vanity 800 Number Line

With a vanity 800 number, you get more incoming calls as a result of your advertising.  But, you have to make sure you put the vanity number in your ads!  All of them….like radio, television, print, outdoor billboards, bus wraps, fleet vehicles, etc.

Once you start doing that, and getting more calls, you need to have a monitoring system in place so you can keep track of what the customer experience is like so you can make improvements and elevate your business to the highest level, improve operations, and revenue.

To accomplish this – the monitoring of calls – you can use a sophisticated and automatic call recording solution along with speech analytics technology.  This combination is a one-two punch at getting you invaluable customer insights, as well as critical knowledge on what your employees are delivering as messages to your customers – how they are representing your business and brand.

Many people may not know what speech analytics is…it’s relatively new technology that is accessible and affordable for business of all sizes and industries.

Here is a definition….

Speech analytics is…Technology that analyzes business calls to find the “voice” of customers. 

This is becoming standard business practice among companies of all sizes and industries, and within contact centers. More and more, simply recording calls and monitoring a sample with a goal toward “quality assurance” is becoming an inadequate process in the face of the growing trend to respond to the dynamic and fluid wants and needs of a business’ customer base (past, present and future). Business owners and managers are realizing that the conversations taking place every day between their employees and customers hold much more valuable information than previously understood, and which traditional call recording alone cannot provide.

In this age where ‘Customer Satisfaction is King’, it has become necessary for businesses to go beyond simple call recording solutions and commit to implementing more robust recording solutions that include an audio mining component.  This allows businesses to gain a full scope of true quality assurance. Along with ensuring quality, a complete recording and audio mining solution, also known as speech analytics, provides businesses with the latest technology to capture and analyze conversations with their customers, allowing them to improve employee training programs, monitor compliance, and capture business intelligence, with the goal of taking the customer relationship full circle to improve the customer experience and close knowledge gaps.

A speech analytics solution scans thousands of phone conversations in a systematic way, so that actionable trends begin to emerge, ultimately transforming unstructured, unleveraged data (the conversations) into insights that can then be readily examined at numerous levels of the corporate infrastructure.

This relatively new ability to efficiently access the in-depth business intelligence contained within these daily conversations provides companies a new avenue to gain direct insight into the customers’ experiences, their satisfaction levels, purchase patterns, loyalty, etc. Businesses can then in turn use this information to develop future products, services, and strategies with the overall goal of increasing revenues.

Learn more about speech analytics technology by speaking with an Account Manager and CallFinder Specialist – contact us today.