Mining the Hidden Opportunities in Customer Conversations
| Published: June 09, 2014 | Comments
Nothing can tell you more about your contact center performance and customer experience than analyzing the conversations between your agents and your customers. There are enormous business opportunities hidden within customer conversations, and gaining visibility of this information is invaluable for optimizing the efficiency and effectiveness of your workforce. This article discusses how Speech Analytics can help overcome contact center challenges and improve agent performance.
Evaluating agent performance and the customer experience is much more than sampling a few calls – traditional quality management programs often rely on human intervention, are time consuming, and therefore usually inefficient and ineffective. And given the number of different channels that consumers now use to contact a single company, this process will only get more complex.
Speech Analytics provides increased insight for contact center managers by automatically identifying key issues that are hindering agent performance. By eliminating manual processes and small sample sizes in analyzing performance, Speech Analytics can provide contact center managers with a full overview of service levels being delivered by agents at all times.
Success story shows the results
Just how does Speech Analytics work better than traditional approaches? Here is a real life example. The Genesys Speech Analytics solution was deployed at The Healthcare Revenue Recovery Group (HRRG), a division of TeamHealth, one of the largest suppliers of outsourced professional staffing and administrative services to U.S. hospitals and healthcare providers.
One of the challenges HRRG faced was to identify which agent skills were crucial to increasing collections revenue and to measure usage of those key skills. Speech Analytics helped to focus training for contact center agents on those key skills and automatically monitored skills usage across the contact center.
The data received through using Speech Analytics enabled HHRG to change some of its business rules and processes. It refocused training, coaching, and self-learning programs on the skills that Speech Analytics had identified as critical to success. The skills were not just taught but also practised in role plays and evaluated with real customer calls during training, coaching and self-learning sessions enabled by Speech Analytics until the agents became very proficient with them. Speech Analytics then continuously monitored agents' usage of those key skills.
In the first few months after agent training, key skill usage improved more than 13%, prompting 32.5% more phone payments. This contributed to a dramatic increase in collections revenue which exceeded expected revenue by 20%.
How Speech Analytics works
By automatically classifying and monitoring 100% of calls, a holistic Speech Analytics solution eliminates the concern about small sample size, as every agent's use of key skills during each customer conversation is analyzed. An optimal solution can identify key phrases used by an individual agent and assess whether these are in line with training advice, helpful to the customer experience or facilitate additional sales, for example.
Some of the specific benefits seen by implementing Speech Analytics are as follows:
- Reducing Costs by Maximizing Operational Efficiency: Once all calls are classified by call reason and specific agent skills used within the call, business process or agent training issues that are causing high call volumes or long average handle times are identified, and the underlying issues can be corrected to maximize efficiency and minimize costs.
- Improving the Customer Experience: Customer experience delivery is significantly improved by maximizing First Call Resolution rates and discovering then correcting the root causes of customer dissatisfaction.
- Boost Revenue: By identifying the agent skills that are most important for successfully selling your product or service – or collecting a particular type of debt – and then facilitating training and coaching targeted on those key skills, it's possible to automatically monitor usage of agent skills on an ongoing basis, thereby increasing sales and/or collections revenue, as the HRRG example above illustrates.
Automatically discover opportunities for improvement
Speech Analytics can provide deep insight for contact center managers into agent performance by analyzing call content to reveal how processes can be improved and the customer experience can be enhanced. By identifying potential threats as well as opportunities, it's possible to uncover the root causes of issues as well as the keys to success, and subsequently direct agent training accordingly.
By doing so, it's possible to see a significant return on investment, as witnessed at HRRG. By automatically analyzing agent performance during every interaction with customers and prospects, contact centers can discover and capitalize upon the enormous opportunities hidden within conversations.
Customer Experience, Technology
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