End to End Call Analytics Blog

small business guide to speech analytics

Posted by John Kiszla on Mar 14, 2016 12:29:15 PM

Speech analytics software can help your small to medium sized business (SMB) in countless ways including enabling you to identify which on-the-phone sales practices are working best, identify at-risk customers about to defect, and provide important voice-of-the-customer intelligence immediately following the call. These and many other advantages mean the time is right for you to start considering speech analytics for your business.

You may be thinking that speech analytics software is too expensive and designed primarily for large enterprises. Well, this used to be the case. Now, for as little as $800 a month, you and your business can be armed with this invaluable tool so you can start realizing all the benefits it has to offer.call-center-agent-smiling-400x250.jpg

The way speech analytics technology works is that it comes with call recording technology built in so first every call your staff makes is automatically recorded and stored. Then, the speech analytics software will automatically mine all calls for select keywords that you specify. Reports are then delivered to your managers in near real time to alert them of important occurances such as a customer, e.g., that just mentioned a variation of the words "cancel my account". Think for a moment how valuable it would be to have near real time alerts of when such a phrase was being uttered by your customers. What would you do with this invaluable intelligence? You would have a supervisor call the customer right back and try to save them from defecting. Right? If you are successful in stopping even one client from leaving, then speech analytics is worth its weight gold. 

Another example might be every customer that utters the word "supervisor". With speech analytics software you will be notified almost immediately and can listen carefully to these calls to find out the reasons for their discontent. Could it be due to a business process error or an underperforming agent? Either way, you will know and can take immediate corrective action so more customers won't become dissastisfied.

If you are an SMB contemplating speech analytics, carefully weight these considerations before making any decisions:

1. How much is the implementation process and how long does it take to get up and running?

2. Is the call recording capability built in or do I have to purchase that separately?

3. How do I intend to use speech analytics: to increase revenue, improve customer service, uncover competitive intelligence, reduce costs, improve regulatory compliance...? (once you have determined the reason or reasons, inquire with your vendors how they can help you meet these goals.) 

4. Ask the vendor to explain the following costs, if they apply: license fee for calls analyzed, implementation costs, bandwidth costs if hosted offsite, costs for additional users, extra hardware expenses, system training, etc. What are the upfront costs and what are the ongoing costs?

5. Which speech recognition technology is used? Phonetic Speech Analysis (audio is processed into a sequence of sounds and the results are presented in a lattice of possibilities) or Large Vocabulary Continuous Speech Recognition, which applies a dictionary or language model of upwards of 100,000 words and pharases to produce a full transcript.

ebook - Speech Analytics  for SMBs

 

 

 

  

Rescue Lost Sales Opportunities with Speech Analytics

Posted by John Kiszla on Jan 11, 2016 11:50:46 AM

 

 

Imagine being able to immediately access every sales prospect call your sales staff has in which the words “not interested” were muttered by the caller? You could instantly learn why sales prospects aren’t converting and can then retrain your sales team.  Or how about the words “refund” or “cancel”?  You could have your customer rescue team contact them immediately following the interaction to save them from defecting. 

 

Without these capabilities, companies just like yours risk losing customers and failing to convert otherwise-viable prospects. And let's remember that it costs 6 times more to attract a new customer than to retain an existing one.  So when you have somebody on the hook, you need to close them.

 

Rescue-Series_November2015.jpgThink of all the potential sales opportunities that you may have lost already – and will continue to lose in the future.

 

Peering into your customer interactions in this way is akin to running through a crowd of thousands and intentionally locating a long-lost friend or loved one you’ve been desperately trying to find for years.  Interaction analytics guides you to make these types of “wow” discoveries.

 

"You can now auto-detect emotion and keywords in your prospect and customer calls, chats, email and social interactions.  This allows you to convert and retain more business."

 

The type of solution we’re talking about here is multi-channel customer interaction analytics. You can now affordably and very easily enjoy its benefits in as little as two days.

 

The benefits to your business will be quite profound, including the ability to:

 

  • Identify underperforming agents that need additional sales training
  • Uncover lost sales opportunities that can be rescued
  • Understand what is causing customer frustration and how to fix it
  • Discover actionable insights from your customer interactions that can lead to increased sales performance
  • Track all performance improvements to ensure their successful completion.

 

ebook - Speech Analytics  for Sales Organizations

 

What is ‘Customer Interaction Analytics'?

Posted by John Kiszla on Nov 12, 2015 1:46:41 PM

Contact center analytics is nothing new, but the scope of the word “analytics” has evolved from what was once only speech analytics to now including a variety of “customer interaction” analytics, such as text analytics, social media analytics, chat analytics, desktop application analytics, IVR analytics and so on.

Analytics software vendors abound are starting to adopt the term “customer interaction analytics” but they typically only offer a singular component of the full solution set. This comprehensive set of analytics now represents every stage of the customer interaction – from the IVR to the conversation to even the post-call survey.

Let’s further explore where customer interaction analytics play in the various components of a customer interaction:

IVR

When the customer navigates the IVR system, are they uttering cuss words as they try to reach an agent? Do they hang up due to frustration or because they have satisfied their needs on their own? Also, wouldn’t you like to know which IVR prompts specifically are giving people problems, so you can fix them? These are all questions that can be answered with IVR analytics, which assesses all parts of the IVR experience and provides calls centers with detailed analytics on spoken words customers utter while in the IVR and which prompts aren't working and are causing customer frustration, hang-ups and even defection.   

Agent/customer interaction

The customer interaction with the agent can take place in a number of ways today – live via telephone or web chat, or not live via email or even social media. Regardless of the manner in which a customer seeks assistance from an agent, he/she expects the best service, and this is where speech, quality assurance, desktop and text-based analytics come into play.

  • Speech Analytics

Wouldn’t it be valuable as a call center manager to be able to see a rolled-up metric showing the specific calls in which the customer spoke the words “cancel my order” or “want to speak to a supervisor”? Better yet, what if you could then dive into those interactions and listen to them at the point those words were spoken? This is what speech analytics software does for contact centers today. It recognizes speech and converts it into data (either phonemes – the sounds that go to make up words – or as a text transcription). Once transcribed, the entire conversation is searchable. Alerts can even be set to notify managers when certain words are spoken.

  • Quality Assurance Analytics

Call recording systems offer selective recording quality assurance software which captures a random selection of customer calls and then assesses the interactions based on pre-defined customer service criteria. From these assessments, workflow optimization changes can be made and/or skill-specific training can be given to agents to avoid future problems.

  • Desktop Analytics

The keystrokes your agents make and the specific data they enter into their desktop applications – when intelligently analyzed – can tell you a lot about customer satisfaction, workflow efficiency and/or breakdowns, client segmentation and more. With desktop analytics software, call center managers and/or business users can specify select conditions, that when met, trigger an analytics event.  For instance, a trigger can be set to flag every call in which the agent enters a dollar amount larger than $350 into the final cost field. You can then review all of these calls to see, for instance, what went right in terms of up-selling these clients from the typical $75 a month service package. This sales intelligence can then be shared among lower-performing agents to boost their sales skills.

  • Text-Based Analytics

Much like speech analytics software without the speech-to-text conversion, text analytics software makes all text-based conversations (email, chat, social media) searchable by keyword(s) so you can access every interaction, for example, in which the customer mentioned the words(s) “happy”, “so happy”, “very happy”. Managers can then take those interactions and use them as best practice interactions for underperforming agents who interact with customers via text, chat and social media.

Post-Call

When a customer completes their interaction with a live agent, this is the prime time to solicit their feedback via a post-call survey. With post-call survey analytics, this customer satisfaction data can be collected and analyzed to identify what is and is not working during your agents’ interactions with your customers.

The time for customer interaction analytics is now, and your best option is to work with one provider who can offer you an integrated package of the various analytics solutions.

ebook - Speech Analytics  for Sales Organizations

Topics: speech analytics

The Out-of-Reach Treasure Trove of Customer Insight

Posted by John Kiszla on Sep 22, 2015 11:49:15 AM

Imagine being able to immediately access every call your staff has with customers, members and/or patients in which the individual said the word “unhappy” or “cancel” or perhaps expressed anger by the tone of their voice.  You could instantly follow-up with these people and save them from defecting.  Keyword spotting also holds true for chats, email, social media interactions and more!

head_customer_insight

 

The reason that almost 90 percent of small to medium-sized businesses today can’t do these types of things is because they lack the ability to peer inside their customer interactions with microscope-like accuracy.

 

Without these capabilities, companies just like yours risk losing customers and failing to convert otherwise-viable prospects.  Think of all the potential opportunities that may be lost already.

 

Peering into your customer interactions in this way is akin to running through a crowd of thousands and intentionally locating a long-lost friend or loved one you’ve been desperately trying to find for years.  Interaction analytics guides you to make these types of “wow” discoveries.

 

You can now auto-detect emotion and keywords in your customer calls, chats, email and social interactions.  This allows you to convert and retain more business.

 

The type of solution we’re talking about here is multi-channel customer interaction analytics (including speech analytics), which is no longer just for large enterprises.  You can now affordably and very easily enjoy its benefits, and in as little as a day or two.

 

ebook - Speech Analytics  for SMBs

How to Boost Sales with Speech Analytics

Posted by John Kiszla on Sep 9, 2015 11:25:06 AM

Imagine being able to immediately access every sales prospect call your sales staff has in which the words “not interested” were muttered by the caller? You could instantly learn why sales prospects aren’t converting and can then retrain your sales team.  Or how about the words “refund” or “cancel”?  You could have your customer rescue team contact them immediately following the interaction to save them from defecting. 

Without these capabilities, companies just like yours risk losing customers and failing to convert otherwise-viable prospects. 

Think of all the potential sales opportunities that you may have lost already – and will  continue to lose in the future. Imagine being able to immediately access every sales prospect call your sales staff has in which the words “not interested” were muttered by the caller? You could instantly learn why sales prospects aren’t converting and can then retrain your sales team.  Or how about the words “refund” or “cancel”?  You could have your customer rescue team contact them immediately following the interaction to save them from defecting. 

phonesalesmaster

Without these capabilities, companies just like yours risk losing customers and failing to convert otherwise-viable prospects. 

Think of all the potential sales opportunities that you may have lost already – and will  continue to lose in the future.

Peering into your customer interactions in this way is akin to running through a crowd of thousands and intentionally locating a long-lost friend or loved one you’ve been desperately trying to find for years.  Interaction analytics guides you to make these types of “wow” discoveries.Peering into your customer interactions in this way is akin to running through a crowd of thousands and intentionally locating a long-lost friend or loved one you’ve been desperately trying to find for years.  Interaction analytics guides you to make these types of “wow” discoveries. 

The type of solution we’re talking about here is multi-channel customer interaction analytics. You can now affordably and very easily enjoy its benefits in as little as two days.The type of solution we’re talking about here is multi-channel customer interaction analytics. You can now affordably and very easily enjoy its benefits in as little as two days.

 

ebook - Speech Analytics  for Sales Organizations  

 

What is Total Call Center Performance Management?

Posted by John Kiszla on Sep 4, 2015 10:57:00 AM

Call center analytics is a huge buzzword in the world of customer service to say the least.  But what exactly is call center analytics?

quality-customer-service-outsource

Typically, call center analytics refers to:

  • Speech analysis - Analyzes the customer and agent's voices to uncover meaningful sales, compliance, dispute and customer retention patterns/indicators
  • Predictive analytics - Levearges data from customer interactions to anticipate what the customer will do next
  • Desktop analytics - Analyzes the agent's desktop activity to identify ways to improve agent performance and customer satisfaction

These call center metrics solutions aim to "...isolate revenue-related calls, identify agent best practices, predict root causes of their dissatisfaction" (CIO Magazine), uncover at-risk customers and more.

What these solutions do not do, however, is analyze the complete customer interaction - from the IVR all the way through to the hangup. This upfront analytics component of assessing the customer's satisfaction level within the IVR application is imperative to truly understand the complete customer interaction. All other analytics solution come into play only after the agent and the customer connect live.  What about all the fumbling around the IVR the customer has to do just to get to an agent?

Without such a tool, false assumptions can be made about a customer's happiness with your business and your customer service capabilities.  This can leave your company susceptible to unknown customer dissatisfaction which can lead to negative comments to friends, family and colleagues. You can't afford such grievances.

In order to capture a complete picture of the full customer interaction, you must consider an analytics suite that includes the following core components:

  • IVR Analytics
  • Speech Analytics
  • Call Recording - capturing and storing every call or a sampling of calls
  • Quality Monitoring - Evaluation tools to assess and improve agent performance

The combination of these four tools enables your call center supervisors to fully understand what is happening within each and every customer interaction without any unknowns whatsoever.  You can then take the necessary action to drive improvements in the customer experience and beyond.

This level of customer interaction transparency is where total call center performance management takes place.

 

ebook - Speech Analytics  for SMBs