Research shows that for every one negative customer service experience, it will take 12 positive customer service experiences to make up for the effect. Preventing that one negative experience can help you cut costs, boost income and improve your business’ reputation. Speech analytics can help with that.

Speech analytics technology offered through top-of-the-line call center software helps businesses track the customer experience through a detailed analysis of each and every service call. From tracking the reason for the call to keeping track of products that customers mention, it can enhance the experience for the customer while also helping businesses cut costs and boost revenue. Here’s how speech analytics can benefit your business.

Lower Costs

One big benefit that speech analysis can provide for businesses of any size is cost-savings. Speech analysis makes it easy to look at the big picture of your business’ customer service to help you get to the bottom of why customers are calling in to begin with. Armed with this information, you can fill the gaps in your service and reduce the number of calls being made, lowering your associated costs. You can also boost profits by using speech analysis of products mentioned during calls and inquiries to make decisions about what to upsell or market to consumers in the future.

Boost in First-Call Resolution Rates

Not only is the initial volume of calls being reduced, but your first-call resolution rate is being increased as well. More calls are resolved in the first round because your business can use those speech analytics to better help customers find the right solution. This means fewer calls and lower costs for you — and greater satisfaction for your customers.

Higher Interactive Voice Response Containment

Resolving customer inquiries and problems without the help of a live agent can help cut costs, save time and also lead to higher customer satisfaction. But without speech analysis, it can be difficult to figure out exactly why customers are opting to skip self-help opportunities to instead ask to speak to an agent. With speech analysis, your business can use the collected data to increase your IVR containment and cut costs.

Less Agent Stress

The more calls coming in — and the more frustrated customers calling in — the more stress your agents are experiencing. Speech analysis helps two-fold with this problem:

  1. It helps to target the problems that are causing customers to call in the first place. With time, this can lead to a massive reduction in the number of customers calling in to voice their frustration with the issues they’re facing.
  2. The total number of calls is being reduced, giving agents more time to focus on the calls that do come in, with less stress.

Improving Customer Experience With Speech Analysis

Speech analysis goes far beyond simply collecting information about the reason that customers are calling in. It also takes note of the tone of voice customers are using, picks up on subtle emotions being expressed, keeps tracks of products that are brought up during a call and more. All in all, agents with less stress are able to provide superior customer service, while higher first-call resolution and IVR containment rates mean less manpower and time needed, which in turn lowers costs. All of this information that’s gathered achieves one overarching goal: improving the customer experience.