Consumers today have more choices than ever in deciding what businesses to interact with, buy from, and recommend. Do you know how or why they make the decision to work with you? Stay with you? Taking stock with speech analytics is one smart way forward.
Today is “Get to Know Your Customers Day,” and for businesses of all sizes, understanding the constantly evolving needs and wants of customers is essential for both initial and long-term success – especially in today’s competitive market. The valuable knowledge obtained from listening to your customers is what ultimately helps you improve the customer experience that can build brand loyalty, while reducing operational costs and boosting profits for you.
But let’s face it; if you are relying on one dedicated day to get to know your customers, you probably don’t really know them. And, if you don’t know what they expect (or these days, ‘demand’) from your business, it’s a lot more difficult to give it to them.
Speech analytics can help companies go from celebrating “Get to know your customers day” to “Every day I know my customer better”. A quality speech analytics solution will analyze 100% of customer interactions and distill it into information that helps a company get to know them better. With those insights at their disposal, businesses can have confidence they’re helping their customers in ways they couldn’t before. It’s no surprise then, that CEO’s have prioritized analytics as the #1 priority to improve the customer experience. (Forrester, Customer Experience Innovation Survey 2017.)
Here are a few of the essentials you’ll want when deploying an analytics-based approach:
Interpretable and actionable insights, not just a data dump
Forrester reports 74% of firms say they want to be “data-driven,” but only 29% are actually successful at connecting analytics to action. Actionable insights often are the missing link for companies that want to drive business outcomes from their data.
When selecting an analytics solution, make sure you are getting insights that are:
- Easy to understand at-a-glance;
- Specific enough to apply effectively;
- Unique enough that they aren’t rehashing previous insights;
- and extracted from graphs and charts such that they are clear enough that contact center personnel can understand how to apply them to their jobs without having to dig or take time away from their day-to-day responsibilities.
Combine speech analytics with application performance analytics to get the full picture
Customers tend to stop doing business with a company after one bad IVR experience, so getting to know your customers’ IVR journey is essential. Using application performance analytics can help you do this by quickly spotting and reacting to changing caller flow patterns, gaining visibility into caller engagement and informing ongoing application tuning – ensuring you are serving up an optimal experience for your customers.
Know your customers on every channel
Getting to the heart of what the customer needs, expects, and demands is what speech analytics is all about. And it’s important to note that this doesn’t just apply to interactions within a business’s call center. Speech analytics include all of the various interactions that customers have with your organization, including written communications through chat, text/SMS and emails. And the insights you uncover in these interactions can be applied to things beyond the contact center – marketing campaigns, sales, new product designs and more.
Deeper insight into your customers has real and tangible business benefits. From driving revenue and reducing costs to supporting customer satisfaction and brand – whatever your KPIs, knowing more about your customers puts you in the best position to succeed.