Speech analytics is basically a technological software that analyses calls by transcribing them into text for delving deeper in order to derive intricate insights, trends and metrics. These are derived to assess agent performance for constructive feedback and improvement. Moreover, it helps to understand the dynamics of the customer trends which further helps the organisation to align its pitch for driving sales.
The pandemic has made us realise that with the intervention of technology, the most adverse situations could be dealt without in person contact. In the new normal, it has become necessary to adopt a data-driven approach and automate the operations of any organisation. This is where speech analytics has come into limelight when it comes to bringing in sales.
Speech Analytics for Sales
Speech analytics involves a multi-step process which uses artificial intelligence, natural language processing, etc. to capture and process all the unstructured data from the call recordings to convert it to structured data. The entire process is based on-
- It becomes necessary to capture the entire sales conversation for analysis.
- The platform captures information and data on the lines of customer type, date and time.
- Speech recognition occurs when converting audio to text, collating data together for a unified view.
- Lastly, the software analyses the data to identify patterns, emotions, language characteristics, etc. by scoring on certain parameters.
Benefits of Using it
- Increased call coverage: speech analytics enables organisations to review sales calls in minimal time for enhancing call coverage.
- Providing real time feedback: With increased call coverage and faster analysis, managers can deliver personalised constructive feedback to reps in no time.
- Improving customer experiences: In order to understand the customer better, sentiment analysis is used for analysing positive customer experiences indicators as well as the negative ones to reduce customer churn.
- Cutting excessive costs: This data-driven approach eliminates guesswork which further cuts down excess costs, driving more sales. This enables the team to formulate strategies based on facts rather than ballpark figures.
- Plethora of opportunities: By understanding customer dynamics, the speech analytics software aids in recommending new offers, discounts and products to cater the direct needs of the customer for satisfaction.
The speech analytics industry has made a big breakthrough in the technological world where ODIO has stepped up to produce amazing AI solutions. It is the go to software because of its competent results and impactful case studies in multiple industries.