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UK Research Reveals How Speech Analytics is Helping Call Centers Improve Their Customer Service Levels

UK Research Reveals How Speech Analytics is Helping Call Centers Improve Their Customer Service Levels

Businesses are discovering how critical the contact center is to their success. They do not receive the hype they deserve despite their role in ensuring customer satisfaction. Well, COVID-19 altered the perspective, revealing how crucial the call center can be.

But your call center can’t function alone. Innovative tools like speech analytics are critical for measuring agent performance during calls for enhanced CX.

To further buttress the importance of call centers, the lockdown saw a spike in customer calls. This meant that call centers needed to strategize to meet new demands. Thankfully, businesses are leveraging conversational HR tools for improvement.

Recently, 750 call center customers were surveyed to find out the behavior towards contact centers. The survey identified the industries that are succeeding or underperforming in customer service or customer satisfaction.

Industries with the Best Customer Service

Ordinarily, we can’t overemphasize the importance of call centers in the relationship between businesses and customers. Over the course of the lockdown, call centers were faced with the challenge to accommodate improved customer demands and chained calls. Awaken’s survey found that industries, including finance and banking (23%), consumer goods (20%), and entertainment and hospitality (13%), occupied the top 3 positions regarding good customer service.

Occupying the 4th, 5th, and 6th positions are utilities (11%), technology and electrical (11%), and insurance (8%) respectively. Travel (7%), vehicles and transportation (5%), and legal and government services (3%) occupied the 7th, 8th and 9th places respectively in terms of good customer service.

Industries with the Worst Customer Service

Society has a binary structure, such that we find negatives and positives. The same applies in the business world. The survey identified underperforming industries in good customer service as utilities (18%), travel (14%), legal and government services (14%), consumer goods (11%), finance and banking (10%), insurance (9%), technology and electrical (9%), entertainment and hospitality (9%), vehicles and transportation (7%).

18% of the respondents think that the utility industry provides the worst customer service since the pandemic emerged. However, people between the ages of 18-24 voted the travel industry as the worst.

How Speech Analytics Helps Call Centers to Improve Their Customer Service Levels

Convert Audio into Actionable Data

Collecting researchable data should be your priority. You want to be able to create records of audio customer-agent conversations and convert them into actionable data.

Depending on your speech analytics provider, the functionality, features and management will not be the same. The technological solutions in some software go farther than others, so you want to be careful when selecting a suitable system for your company.

Optimal and Cost Effectiveness

Who wants to operate on high-cost systems? No, not you. Now, typical modern speech analytics is designed optimally and thoughtfully for convenient deployment that aids your business cut costs. You would experience reduced QA and monitoring costs. Regarding optimal operations, conversational analytics lets you control call volumes, ensuring better internal processes optimization.

Eliminate Long Wait Times

You need not be told how much your customers dislike that long wait times, and this occurrence is rampant in most industries. With conversational analytics, you can figure out and address the problem of wait times to improve CX.

Analyze Processed Data

Speech analytics lets you transcribe and refine your data. In this case, you do not only collect data; you analyze to determine where to make changes. You can identify and analyze keywords, phrases, and topics of interest raised during the calls automatically. Deeper analysis lets you uncover trends and opportunities to make better decisions.

First Call Resolution

To ensure good CX, you must have a call culture that encourages first call resolution. After analyzing each call, you can determine what improvements to make following customer attitudes so that subsequent issues can be resolved quickly.

Improve Customer Experience

The general importance of speech analytics is CX improvement. This innovation analyzes speech data to reveal customer expectations and establish specific behavioral patterns, as well as predict trends that ensure quality conversation.

Speech Analytics is Fast Becoming a Business Engine

Speech technologies and voice AI are changing how businesses and professional service industries cope after the pandemic. Meanwhile, audio and video conversations during business meetings were already on the rise, even before the lockdown, which merely popularized them. For example, 200 million Microsoft Teams meeting participants interacted in one day in April 2020, generating over 4.1 billion meeting minutes.

Despite the disruption of global travel plans and work amid the pandemic, customer service centers have experienced a surge in call volume. WestJet, for example, experienced a 10-hour wait. Banks and credit card companies such as Capital One see above-average hold times, and some customers complain about annoying disconnections.

Now, voice-assisted chatbots are being adopted by many call centers in a bid to be efficient. Following the current state of the pandemic, considered the new normal, voice analytics technology might be replacing or aiding human call tasks permanently.

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by Lottie Pritchard // Lottie Pritchard is a contributor to Businessing Magazine.

Opinions expressed by contributors are their own.