Why is everyone raving about speech analytics?

Faith Ocampo Published on April 2, 2016

happy-business-team-celebrating-by-laptop

Speech analytics has the power to transform contact centers into insight-driven organizations.

Classified as a high-value subset of data analytics, speech analytics has become one of the most in-demand call center solutions. This tool is popular among companies mainly because it allows them to make evidence-based decisions. They gain useful insights from customer interactions, allowing them to zone in on what customers truly want. The result? Happier customers and more sales.

happy-business-team-shaking-hands

How exactly does this happen?
In speech analytics, unstructured conversations such as phone calls are converted into structured outputs. This output can then be analyzed according to one’s objectives. Mostly, speech analytics is used to spot the root causes of customers’ issues, detect arising trends, understand callers’ emotions, and monitor the quality of customer service.

It’s thus not surprising that call centers quickly began using this technology. If you’re thinking of joining these speech analytics fans, here are five benefits that might finally convince you.

1. Cost-efficiency

group-of-ceramic-piggy-banks

If you’re trying to find cost-efficient solutions to a problem, speech analytics is your best friend. Insights gained from analyzing customer calls will allow you to spot unnecessary expenses that could instead be spent for something more important.

Better yet, it can help increase sales and attract new customers. With the aid of this sophisticated tool, you’ll learn where your money should go and which business aspects need cost-cutting.

 

2. Less customer churn

annoyed-woman-on-phone-call

Listening is an underrated customer service skill, and that’s what speech analytics aims to change. By understanding your customers through their interactions with your brand, you’ll discover exactly why some of them leave. Then, the next step is to make the necessary changes to encourage every single customer to come back.

 

3. Stronger branding

overview-shot-of-desk-of-laptops-with-digital-marketing-branding-icons

To survive the competition, brands need to offer something to customers that no other business does. To identify what this attribute should be, you should pay attention to your customers’ ideas. They may not blatantly tell you to conduct a specific marketing tactic or to offer certain perks, but try reading between the lines. If you do, you’ll easily discover what makes customers decide whether a brand deserves their money and attention or not.

 

4. Better operations

diverse-customer-service-team

For call centers, the success of a customer service outreach depends on how efficient their internal operations are. All functions must be carefully scheduled and organized and must follow a smooth flow. This ensures that all tasks are being executed well.

Some changes in internal operations can change the way customer service is being delivered. Yet, without insights from your target audience, it’s almost impossible to create a strategy that they would appreciate. Speech analytics can help you reverse this situation.

 

5. Call center productivity

busy-female-call-center-agent-smiling

In relation to the previous item, efficient operations lead to higher productivity, which then helps you generate more revenues, attract new customers, and retain existing ones. Speech analytics can fuel your agents’ productivity, as this tool can guide them on how to properly communicate with customers. In the long run, this will also help you save money.

Faith is a digital media enthusiast aiming to become an active part of the tech world by sharing her insights. She likes to blog about everything digimarketing, technology, and social media.
Join us on facebook
Open Access BPO 2 days ago
Gaining a leg up on the global competition means so much more than speaking your customer's langauage.

Understand their culture and you stand to capture the international market: https://buff.ly/3W2ODcL

----------
Outsource with a #MultilingualCallCenter that will help you establish a strong foothold in your global markets: https://buff.ly/4bDl6Mj

#WeSpeakYourLanguage
Open Access BPO 2 days ago
Open Access BPO hosted a successful #Pride celebration, fostering a spirit of #inclusivity and community.
Attendees enjoyed a lively atmosphere with video showcases, band performances, and a drag queen showcase.

The event highlighted our commitment to #diversity and inclusion within the workplace.

𝗛𝗲𝗮𝗱 𝘁𝗼 𝗼𝘂𝗿 𝗯𝗹𝗼𝗴 𝗳𝗼𝗿 𝗮 𝗳𝘂𝗹𝗹 𝗿𝗲𝗰𝗮𝗽 𝗼𝗳 𝘁𝗵𝗲 𝗲𝗽𝗶𝗰 𝗰𝗲𝗹𝗲𝗯𝗿𝗮𝘁𝗶𝗼𝗻: https://buff.ly/4cXfjSS

----------
Open Access BPO is a dedicated employee-centric #outsourcing firm that champions a culture of respect and appreciation for all, regardless of background or identity.

Outsource to gain a #CX team and a strategic employee-centric operations management without losing your focus on growing your business.
Partner with us today: https://buff.ly/4cWE95y

#WeSpeakYourLanguage
#OneWithDiversity #PrideMonth
#Pride2024 #CelebratePride
#OABPOSpeaksWithPride
Open Access BPO 4 days ago
You need skilled and creative #CustomerService agents to wow your customers.
But #hiring the right people to engage with your consumers can be difficult for many brands.

Here's how to tweak your #recruitment strategies to get the best #CX experts: https://buff.ly/3zJNPSn

----------
Or you can outsource to Open Access BPO and we'll do the recruitment and training for you.

Send us a message today to set up your own team of #CX specialists: https://buff.ly/3VZNHG3

#WeSpeakYourLanguage
#outsourcing #CSat
#CustomerExperience
Open Access BPO 5 days ago
Aside from the different accents, Americans and Britons have different attitudes when talking to #CallCenter agents.

Here's what agents have to know about both types of English-speaking Westerners when providing #CustomerService: https://buff.ly/3WdNKPW

----------
Anticipate and exceed your global customers' demands with a multilingual #CX expert: https://buff.ly/3WbhEnR

#WeSpeakYourLanguage
#CustomerExperience #CX
Open Access BPO 5 days ago
Great #CallCenter agents rely on strong Team Leaders for guidance and motivation. But even the best intentions can be overshadowed by negative leadership habits.

Check out our blog post for 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗰𝗼𝗺𝗺𝗼𝗻 𝗽𝗶𝘁𝗳𝗮𝗹𝗹𝘀 𝘁𝗵𝗮𝘁 𝗰𝗮𝗻 𝘀𝗮𝗯𝗼𝘁𝗮𝗴𝗲 𝘆𝗼𝘂𝗿 𝗹𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 (plus insider tips for becoming a stellar leader who inspires your team and drives results!): https://buff.ly/4eWMurQ

----------
Ready to man your brand's with the premier #CX team?

Find great call center agents and leaders to help manage your brand's growth when you partner with Open Access BPO: https://buff.ly/3WdMbBy

#WeSpeakYourLanguage
#CustomerExperience #CustomerService
#CallCenterManagement #ContactCenters
#CallCenterLeadership #LeadershipQualities
#EmployeEmpowerment
Open Access BPO 9 days ago
Open Access BPO Makati picked up where our Davao colleagues left off in #PrideMonth celebrations.

Here are some of the highlights in last Friday's Pride Party at The Enderun Tent: https://buff.ly/4cHNoa9
Open Access BPO