In love, as in life, “Not right now” and “Never call me again” have two entirely different meanings. Never call me again suggests that really, you should never call again. Not right now stops just short of outright rejection with the possibility of a later – not now, but maybe later.
If your business is investing heavily in creating a world-class contact center, how do you ensure that all your agents are correctly identifying – and responding to – the needs of your customers and prospects? How do you train your agents to recognize the difference between not right now and never? Most companies today carry out manual call evaluations, which can’t identify these differences effectively enough to provide reliable data to take action – and they require considerable time and money just to monitor only a fraction of your total call volume.
Efinancial had just such a challenge. Efinancial was founded to provide insurance consumers quick, easy access to their life insurance policy. As a result, Efinancial invests heavily in building trusted relationships with prospects to guide a very personal investment decision – how to protect loved ones with the right life insurance policy. So, it was no surprise that Efinancial was already doing manual call reviews to analyze how their agents were performing, and how calls were being categorized. But this effort came with a price that wasn’t scalable for their full volume of customer interactions.
That’s when they turned to speech analytics to help automate call monitoring and the analysis of agent skills. With speech analytics, Efinancial was able to pinpoint important phrases (rather than just spot keywords) said by their customers and prospects, which enabled them to detect subtle nuances in meaning, as well as gaps in agent responses and misalignment in call classifications. With the addition of speech analytics, identification of common agent challenges subsequently led to improved agent training and coaching, and better alignment for managers, supervisors and agents alike.
Not right now never sounded so promising
So what’s the impact of having a comprehensive understanding of every call and agent performance? Check out this on-demand webinar on speech analytics titled, Boosting Revenue with Speech Analytics: the Efinancial Story. You’ll hear directly from Efinancial and learn how they leveraged speech analytics to reduce call categorization mistakes, increase prospect-to-customer conversion rates, and boost revenue by over half a million dollars per year. View it here today!
Thanks for reading!