Before the speech analytics technology captured every call center in the Philippines’ attention, it was first enjoyed by the government for their financial, healthcare, and public safety efforts. But since 2004, call centers and enterprise leaders began to see it as a precious addition to their existing systems and applications.
According to analysts and marketers, speech analytics is now the fastest growing section of the call center technology market. This has become widely popular among customer service providers because it lets companies delve into unstructured data from customer interactions and obtain exceptional but detailed insights about their customers.
So why do contact centers in the country embrace speech analytics? Here are the reasons:
1. It boosts customer experience.
Experts themselves agree that one of the main reasons why call centers embrace speech analytics technology is improving customer service.
No technology has ever existed that’s capable of mining and analyzing data as obscure as human emotions such as stress, anger, and delight. Through this, contact centers gain an almost-omniscient power to identify what their customers expect, want, and need, which they use to provide customer satisfaction measures.
2. It improves agent coaching and monitoring.
Not only can speech analytics monitor customers, but call center representatives as well. In most Philippine call centers today, managers and supervisors track agent calls to improve performance and ensure their adherence to designated quotas. In coaching, speech analytics is also essential in improving first call resolution and reducing call volume.
3. It helps save costs.
The idea of using speech analytics to reduce operation-related expenses isn’t popular to many yet. According to experts, a lot of contact centers don’t realize that a lot of money has been put to waste in settling for an ineffectual analytics platform.
However, the cost-saving effects of speech analytics could take up three to nine months. Through detecting cost savings and ways to avoid spending money while generating increasing revenue, it helps the business cut down operating expenses.
4. It reduces customer attrition rate.
Perhaps the greatest advantage that speech analytics could give is its capacity to help companies identify why customers leave. With a helpful data like this, companies can make necessary adjustments to their services, products, and even to their customer service strategies to convince customers to come back. Moreover, when customers see significant improvements to their customer service, they gain less reason to stop supporting the business’ products and services.
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