A happy and satisfied customer is the key to building a sustainable business. As a business leader, the biggest challenge today has been addressing the changing consumer behaviour patterns and enabling personalized experiences across business touchpoints, both in the digital space and the real world. Customer feedback allows you to gain a better understanding of your consumers so that you can consistently deliver a stellar customer experience.
Speech analytics is one way to acquire a keener understanding of how customers perceive your product, brand, or services. Based on this information, businesses can tweak the value engineering of their products and services for greater longevity. If your business has a contact centre, especially, you can leverage speech analytics to garner deeper insights about your customers and also your top talent. In essence, speech analytics paints a more holistic picture about the key areas of opportunity to unlock value for your business.
So, what are the keys to an effective speech analytics deployment? Based on insights from the aspect, let’s take a closer look at some effective strategies for unlocking business value via speech analytics.
Set measurable goals and expectations
When you deploy a new software solution, it’s natural to feel overwhelmed. It’s perhaps wiser to start small and focus on one aspect of your business. Most businesses usually launch speech analytics to acquire a better understanding of how their contact centre is performing against specific key performance indicators (KPIs). Identifying your goals is the best place to begin your speech analytics journey. To identify these goals, business leaders must ask themselves certain pertinent questions:
- What do you hope to achieve by implementing speech analytics? Is it to learn what customers appreciate and don’t like about your products and services in order to improve the customer experience?
- How well are your agents performing based on certain pre-established parameters?
- To reduce risk, can you improve regulatory compliance?
- Do you need speech analytics insights for the purpose of generating better products and solutions or other goals?
According to a Bloomberg Corporate Week poll, providing a positive customer experience is a top priority for business leaders presently. Your business risks a bad reputation, a drop in performance, and a drop in customer retention, and revenue if your company isn’t focused on providing a great experience.
Facilitate better decision-making
Speech analytics software collects data that is only useful if your business takes action. Assign members of your team to serve on your action committee. The action committee examines the data and looks for customer trends that may have an impact on your goal. When they notice these patterns, it is their obligation to investigate why and how improvements might be made to correct the problem. Data is also deemed to be useful when it is accurate, and audits are an important aspect of the start-up process.
Members of the action committee should be appointed to compare random calls to the data collected. This ensures that you are only making adjustments and reporting data based on accurate information. Your employee connections will benefit from an action committee as well. Rather than the management bringing new facts to the table on a regular basis, employees see a group of their peers doing so. Employees have a higher level of trust in their peers and are more receptive to process modifications they suggest.
Eventually, an organization will have a holistic perspective of specific need-gaps and how they can be addressed. It would help foster an environment of trust, learning, and growth.
Tried and tested
The key to making your speech analytics work like a well-oiled machine is to have established routines. Before using speech analytics software, go over your practices. Determine how the software will alter the responsibilities of your staff. What are your plans for dealing with red flag items? Who will be in charge of ensuring that the action committee’s recommendations are implemented?
Before you go live, you must answer each of the aforementioned questions. It’s also vital to hold all employees and the management accountable for their tasks once you’ve launched. Allow your staff to keep each other and their bosses accountable. A 360-degree accountability method ensures that everyone is on track to meet the company’s objectives.
Granular changes to speech analytics will be a part of the process to unlock the maximum value for your business.