Businesses are now improving their business performance by utilizing conversation analytics as a way to tap into insights from everyday customer telephone interactions.
Contact centers have been recording conversations for decades as part of either regulatory obligations or future reference for service-related clarification. For many organizations, this vast treasure trove of data remains untapped as they rely on post-call surveys, team leader observations, and the limited amount of manual Quality Assurance reviews.
With the growth of machine learning, accessing this rich source of unstructured data became a reality. Currently, market leaders are tapping into the huge volume of calls that happen every day to uncover incredible insights as to what is occurring across the conversations in their business. These insights are now proving a significant asset in driving business performance.
Between “Hello, how can I help you?” and “Thank you! Goodbye” there are thousands of words and phrases, which contain information about customer emotions, agent performance, company processes and products. When analyzed, contact center conversations constitute the ultimate source of knowledge about the customers.
Until recently, the industry standard for reviewing calls coming through a contact center oscillated below 2%. For the thousands of calls handled every month by an average agent, only 5 would be manually reviewed, with a minimum of 98% of calls going unchecked. Manual reviews are costly and time-consuming, driving businesses to search for different solutions. The focus started shifting from listening to agents to listening to customers.
The trend of integrating voice-based technology into voice of the customer programs will only strengthen in the upcoming quarters. Why? The answer is simple: businesses are investing in capturing and analyzing customer feedback. The ability to process data faster, at a greater scale, and with higher accuracy is a tempting prospect for all stakeholders.
This trend is further spurred by the API economy and a rise of marketplaces such as AppFoundry, offering specialized, highly sophisticated, yet light solutions. The name of the game is integration. Call Journey enables a customer of Genesys to process their Genesys-stored calls without leaving the ecosystem.
Furthermore, Call Journey delivers seamless integration, streaming its voice-derived data into a majority of well-known data platforms such as SAS or eMite, while also offering native or custom dashboards. , while also offering native or custom dashboards.
There are many benefits of converting unstructured contact center conversations into structured and actionable data.
The main one is the automation of important, but costly and ineffective processes, such as Quality Assurance, agent monitoring or script adherence. Call Journey’s processing engine not only speeds up this process but also improves it greatly thanks to a unique output containing:
- Customer Emotion and Sentiment
- Agent Sentiment and Emotion
- Agent Script Adherence
- Every spoken word transcribed and searchable
- Trending keywords
- Call Silence Periods
This allows for a thorough, simultaneous assessment of agent compliance and customer experience, delivering double the value for the customer.
Information collected by the processing engines is grouped and assessed providing information about a wide range of areas and allowing users to:
- Improve Sales Performance
- Find the drivers behind the Net Promoter Score
- Map Customer Journeys
- Automate Compliance and Adherence
- Reduce Customer Churn
- Decrease Workforce Attrition
- Automate Quality Assurance
Yet, the true beauty of Conversation Analytics is that nothing gets past it. It catches every disgruntled customer, every conversation with growing negative emotion and dissects them to discover common root causes. What makes customers unhappy? It’s rarely the agents. Most often the culprits lowering the NPS and endangering compliance are broken processes requiring heavy customer effort, misguided offers and unresolved issues. All these can be brought to light with a bit of smart technology.
This post was co-authored by Paul Humphrey, CEO of Call Journey. For the past 30 years, Paul has been helping businesses find solutions to business pains related to workforce optimization, sales processes and lately, growing data requirements. Recently, he took a chance on Call Journey, an innovative tech startup using Artificial Intelligence to analyse phone conversations. Since then, he transformed Call Journey into an official partner of one of the largest market players. Paul is a recognized thought leader in data-driven revenue protection and growth, customer experience, and operational efficiency. He is a regular presenter at global service and sales thought leadership conferences and has a passion for execution and opportunity realization.