convergys analytics - getting it right with speech
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Getting It Right with Speech:
Lessons from the Trailblazers
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Ready to take the leap into speech?Most customer service leaders recognize that implementing speech analytics is no small task. Not only does it require big up-front and ongoing capital expenditures, there’s also the issue of extensive personnel allocations. And that’s just to get it up and running. Gaining insights that matter, then sharing them with the right people introduces even more challenges. Has anyone solved for all of this … and is there really an ROI at the end?
Why speech analyticsAs brands fight for the attention of the always-on customer, organizations are making big bets on Big Data to understand needs, wants, preferences and behaviors. Innovators in using Big Data to improve the customer experience are taking advantage of unstructured data, including the spoken word.
Not surprising to call center leaders, one of the best sources of customer insights lies within the gigabytes of contact center call recordings.
In the past five years, there’s been an avalanche of companies trying to use speech technology for day-to-day agent compliance and performance. Placing speech automation on top of call recordings gives agents more feedback than ever about performance, even above traditional quality monitoring.
But one doesn’t exclude the other. Rather than going all or none, your best bet is to blend speech into ongoing quality and reap the benefits of both. Done right, they’ll inform each other to yield deeper insights your team can use in process improvements and targeted actioning. Speech benefitsThere are multiple benefits to using speech analytics in customer service, from performance management to cost containment. In the end, if it improves the customer experience it’s sure to improve the business.
Early adopters of speech analytics as a supplement to quality monitoring quickly recognized that more data alone doesn’t improve interactions. If call quality is intended to measure the customer experience, then call metrics need to reflect actual customer expectations—not just what we think is important.
If you still don’t know what customers value, you’re wasting time and money. The only way to capture that is to listen. Doing it rightTake the time and make the investment to understand how customers want to be served. Keep in mind that expectations vary from segment to segment and change over time, so anticipate digging deeper on a regular basis. Find out what customers expect through an integrated effort—conduct interviews, focus groups, surveys, even calibration sessions—and add analysis of call recordings. A complete view gives more intelligence and direction.
For leaders, getting from Point A to Point B is about changing business outcomes not adding another technology. Today’s speech trailblazers do more than improve agent-controllable factors, they drive business transformation.
Read on to learn how they do it.
“If you’ve ever wondered whether taking the leap into speech analytics is worth it, you’re not alone. With the first commercial speech technology launched in the 1970’s, stories began to abound from early adopters facing myriad challenges and resulting failures. A huge obstacle to entry in today’s market is the associated price tag; doing speech right isn’t cheap, or easy.
The latest innovations in speech analytics emphasize the importance of having smart people actively managing inputs and outputs on an ongoing basis. The tools themselves are extremely robust but that means they’re not a plug-and-play option for IT to install and your team to noodle around in. To really achieve value, you have to know how to do it right and be willing to make the proper investments.
With the evolution to real-time squarely in our midst, the benefits of speech analytics are becoming clearer and more tangible. If you can listen to a caller and interpret on the spot whether they’re frustrated and need an escalation, or satisfied and open to an up-sell … imagine what that would mean to your business.
As with many growing markets, sometimes the best way to dip a toe in is to learn from those who have gone before. Here we share stories from five companies that solved the speech conundrum with great success.”
MIKE CHOLAKGeneral Manager and Vice PresidentConvergys Analytics
FOREWARD
Mortgage loan originator and servicer used speech to establish KPI offers, attempts and eligibility. Also analyzed call events to refine offers and agent techniques, then created propensity models for offer acceptance.
IMPROVE SALES
in agentretention
13%increase
in new loanrefinanceamount
10%increase
$
convergys.com/analytics | [email protected] | 800-576-0920
Healthcare insurer used speech analytics to identify which business processes and agent behaviors caused higher member frustration, then established new agent metrics and claims processes.
Communications company used speech analytics to identify top call drivers, assess agent troubleshooting
and explore ways to lower truck rolls.
A multi-national financial services company used speech analytics to automatically categorize call reason thereby eliminating manual dispositioning by agents.
Communications company offering voice and data bundles used speech to increase sales-agent compliance checks and better set customer expectations about upcoming
pricing changes.
INCREASE SATISFACTION LOWER COSTS
HIGHER EFFICIENCY BETTER COMPLIANCE
5S P E E C H A N A L Y T I C S
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one call per agent/monthto all calls per agent/month.
decreasedtruck rolls
inmember confusion15%
reduction
in contact center costs
$600,000annual reduction
in call center costs due to fewer repeat calls
$24Mreduction
Increasedagent efficiency reduced
handle time&62%compliance
increased
compliance checks grew from
Success Stories
$5Mannualsavings
$5,000,000
$
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Intelligence like you’ve never seen.Powerful, actionable, transformative.
convergys.com/analytics | [email protected] | (800) 576-0920
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