|Speech Analytics Dashboard|
However, call monitoring without speech analytics provides only part of the data necessary to get the most from your agents. And if recent industry surveys are to be believed, there’s still work to be done in this area. Just seven percent of consumers reported that their experience dealing with companies exceeded their expectations. And more than 1 out of every 4 on average reported being transferred between agents, and still not having their issue resolved.
How can speech analytics improve these disappointing numbers? By providing additional insight into how agents do their jobs, call after call, day after day. Without that insight, developing effective training programs based on prioritized needs becomes more difficult.
Merging call recording with speech analytics can significantly boost lead conversion rates, as well as increase customer retention levels. At the same time, it’s a way to be 100% assured that agents are always in compliance with federal and industry regulations.
Studies show that a 10% increase in customer retention levels equates to a 30% increase in company value. Any opportunity to add or keep customers that is not acknowledged is one that, in effect, ignores potential sales and profits. With speech analytics, contact centers are assured of gathering all of the valuable data contained in every incoming call.