Are you missing out on key customer insights?

If you are like me and have teenagers consuming vast amounts of social media posts, streams and feeds, for fear that everyone is out-pizzazzing them, then the fear of missing out phobia (aka FOMO) has likely infected your household. But I contend that a bad case of FOMO can sometimes be a good thing -- when it comes to your customers, that is. Nuance analytics can help, so you don’t miss out on key trends.
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Analytics helps businesses uncover customer insights

If the customer is king, ask yourself, how well do you really know your customers?

Your customers are talking, but are you listening across every customer, every channel, every geography? Are you clued in to their preferences, behaviors, and challenges and taking opportunities to improve customer satisfaction, increase operational efficiency and delight your customers, which in turn will serve your business better? As customer demand for greater experiences grows, contact center leaders need greater visibility to customer interactions. Enter analytics.

 

Voice of the customer analytics

The growing antidote to FOMO is voice of the customer analytics (VOC), which automate the capture and analysis of multi-channel customer interaction data such as contact center calls, chat transcripts, SMS conversations, emails, and social media posts. Once captured, the seemingly endless amount of raw data is transformed into structured data that can be sorted, filtered, searched and analyzed to better understand customer interactions and identify patterns and root causes for successes and failures in order to improve outcomes, sales, and the customer experience.

When leveraged well, analytics not only improve customer satisfaction, but also help businesses become more efficient and profitable. By capturing and analyzing customer interactions, businesses can:

  • Identify areas to improve process, increase efficiency and reduce costs while sharing successful behaviors that improve sales and delight customers
  • Streamline and automate agent coaching and training, improving the overall experience and interaction with your company, which incents repeat and loyal customers
  • Reduce liability exposure by providing critical insights to agents in real-time to respond to legal threats, minimizing risky language, and to ensure regulatory compliance adherence

It’s no wonder that contact centers are top users of analytics solutions with 80% of contact center executives citing customer feedback as core to their DNA and 66% citing analytics as a critical investment to uncover and mine that feedback.

 

What you might be missing out on:

Choosing an analytics solution that gives you the insights you are looking for, as well as return on investment, requires a thoughtful approach to selecting a partner. There are many things to look for, but here are a few of my must-haves you don’t want to miss out on:

Analyzing 100% of customer interactions, not just a small sample: Today’s customers are interacting with businesses across all channels. However, many call centers are only evaluating 1-3% of calls. By mining 100 percent of your customer interactions, you can get a complete picture of trends and areas for improvement.

Ease of use: Contact center resources are stretched thin, so having out-of-the box results delivered through a user-friendly, intuitive interface ensures that key insights can be easily understood and shared throughout the enterprise. While expert professional services are invaluable to most analytics deployments (and I cover these more in-depth later), users should also have the flexibility to customize and tune to their own specific business conversations without the need for specialist support at every turn.

Automated agent performance feedback, assistance, and call intervention: Quality assurance is one of the most mission-critical functions in the call center, yet agent performance feedback is often a time-consuming, incomplete and costly process. Automating scorecards, live-call intervention and script prompting help reduce manual effort and improve agent effectiveness. And, an efficient agent performance management system should offer a live, dynamic feedback portal, offering agents real-time access to review their performance and chart their own progress for self-improvement.

Speed to intelligence: A key consideration is the speed to which you can deploy an analytics solution. Ask your vendor if they offer out-of-the-box products, flexible deployment options such as hosted or on-premise, APIs to share data across systems, and pre-built starter packs that deliver rapid setup and a fast ROI. And how soon can you expect to see results? Whether your contact center has hundreds or millions of customer interactions per week, you should expect to gain insights within the first 24 hours of deployment.

Data security and privacy: Security is essential and should be an inherent part of any analytics solution. Automatic redaction capabilities allow businesses to confirm and declare that their customer data is secure and their organization is PCI-compliant. Call center compliance solution packs and automatic monitoring reduce risk associated with compliance and liability exposure, and reduce the risk of fines.

Open architecture: An analytics solution based on an open architecture allows you to leverage the data you have captured, both inside and outside of the analytics solution. Whether you want to use your analytics data for custom reporting or with other business intelligence or analytical tools, APIs provide opportunity for greater value and impact across the business.

Expert, intelligent services: The ability to turn detailed analytics into meaningful, actionable business insights comes from collective intelligence and wisdom developed over time. It is vital to ensure that the vendor chosen will be able to work alongside your team should you so desire, combining analytical skills with your business knowledge to deliver meaningful business intelligence that will drive effective organizational change.

Clued in: According to research, 60% of repeat calls are process or training related.  Understanding the root cause, whether it is a training issue, a call being dropped or an IVR routing problem, can expedite resolution.  Getting clued in with analytics is the first step.  For more information on how Nuance analytics solutions can help, visit our webpage: https://www.nuance.com/omni-channel-customer-engagement/analytics.html

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Rachel Ashby

About Rachel Ashby

Rachel Ashby joined Nuance in April 2017 as Senior Principal Solutions Marketing Manager for Nuance analytics as well as Nuance Core Technologies including automatic speech recognition, text-to-speech and transcription engine. Before joining Nuance, Ashby worked in various marketing, consulting and sales support positions at IBM and has over 20 years of experience in the high tech industry.