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Why Workforce Management Solutions Should Include Speech Analytics
How well are your agents performing on the job? You may be able to report that they’re showing up to work on time, staying within established Key Performance Metrics (KPIs) and schedule adherence is well within the projected rang, but is the customer experience at its best? A workforce management solution with speech analytics can help answer this question, yet call centers still overlook the importance of putting it in place.
If you’re surprised to see that speech analytics plays an important role, you’re not alone. This is an often overlooked tool for call monitoring as management often assumes that recording and search capabilities provide everything you need to effectively monitor your campaigns. When only seven percent of consumers are reporting that their experience in dealing with a company’s customer service department exceeded their expectations, this suggests there is room for improvement.
A recent Monet Software blog highlights the point as more than one out of every four consumers on average report being transferred between agents and still end the call without their issue resolved. If you don’t know these things are happening, you’re ill-equipped to do something about them. Fortunately, merging your call recording with speech analytics has been proven to significantly boost lead conversion rates.
The merging of these two technologies can also increase customer retention levels, which positively affects your bottom line. Plus, you can also take advantage of the opportunity to be 100 percent sure that agents are in compliance with federal and industry regulations. When you can search through recorded data by using specific words, you can quickly identify patterns, problems and even areas of success that may not have been readily identifiable without speech analytics.
According to Monet Software, a workforce management solution provider, a 10 percent increase in customer retention levels is equal to a 30 percent increase in company value. If you aren’t taking advantage of the technology available to add or keep customers, you could be leaving money on the table. Speech analytics allows you to gather all valuable data contained in every call. By doing so, you can check for script adherence, customer responses, patterns of discontent and so much more.
The point is that solutions are available that allow you to dig deep into these interactions so you can effectively measure the experience against the outcomes. There are always opportunities to improve agent performance and the customer experience. If you’re not doing that now, you’re missing out on key opportunities to improve the bottom line.
Edited by Stefania Viscusi