Business hardware, software and communications companies are under enormous pressure, thanks to rising inflation and a tighter financing market, to understand and respond to their customers.
To compete, they need to be in tune with the 24/7 omnichannel feedback loop that exists in the contact center, on social media channels, and beyond. However, many are not equipped to effectively listen to the solicited or unsolicited feedback that customers are already giving them.
conversation intelligence it is a way to truly understand the voice of the customer (VoC). This technology is based on a combination of machine learning and natural language processing to analyze 100% of omnichannel feedback. Instead of offering only cursory assessments of written or spoken customer interactions, conversation intelligence harnesses the power of AI to understand the intent, sentiment, and meaning of customer data. That way, teams can evaluate a large volume of interactions much more deeply, in much less time than manual approaches.
Let’s discuss five ways tech companies can use this technology to improve customer experience (CX), compete, retain talent, save costs, and drive revenue…
1. Boost Contact Center Experience and Quality Assurance (QA)
Surveys like Net Promoter Score are a common practice to determine contact center performance on a given call. However, the surveys have an average response rate of 5-15%and often only represent people who are either extremely satisfied or extremely dissatisfied with their interactions. That leaves a big middle ground open for interpretation. Other common practices include manual approaches like listening for random calls for quality control and agent performance. However, when the typical contact center handles hundreds or thousands of calls per day, call listening only covers a small fraction of overall interactions.
Conversation intelligence can be applied to 100% of omnichannel customer interactions, helping contact center supervisors more effectively understand agent performance and process adherence for quality control and compliance. From there, they can use data-driven training methods to hone exact areas of improvement or reward top performers.
2. Improve the employee experience (EX)
In a challenging climate, it’s important to retain top performers and help employees succeed in their chosen career paths. Not to mention, happy employees equal happy customers. According to the CallMiner CX Landscape Report, 99% of companies believe that EX and CX are closely related. It is important to create new opportunities for data driven training for managers and supervisors. Tech companies with customer service and support centers can have thousands of customer interactions per day, which are full of data-driven performance insights for coaches.
Capturing your employee’s side of conversations that take place beyond surveys can help drive more relevant employee engagement programs. The right insights equip managers, supervisors, and HR leaders to have more informed conversations about their future path and direction in their organization, while retaining valuable employees in the process.
3. Drive revenue through new logos, expansion and retention
Generating revenue is the most important thing for technology companies. The good news is that sales reps can use conversation intelligence to continuously improve their interactions with prospects, accelerating sales cycles. The technology can be applied to sales teams in a similar way to how it is used to train customer service teams.
Another area where conversation intelligence can be particularly useful is retention. This technology helps sales and support teams understand certain signals, such as likely churn behavior in existing customers. Real-time guidance for reps can help guide them through potentially difficult retention situations.
4. Detect and respond to customer problems and brand crises
Where there is smoke there is fire! That doesn’t necessarily have to be the case for customer problems. While customers have more channels than ever to express their frustration, conversation intelligence can be harnessed to monitor these interactions and take action before a larger brand or PR crisis emerges.
For example, if customers don’t respond well to a digital marketing campaign or strategy, the marketing team can make adjustments (eg, replace a controversial spokesperson or change a message that doesn’t resonate). For issues like product warranties or safety issues, product teams can spot signs of dissatisfaction and make adjustments before a larger event, like a recall, has to take place.
5. Drive innovation and product improvements
As we talk about product quality, it’s important to note that conversational intelligence is a powerful tool in a product team’s toolkit. Customers can be a critical voice in determining product roadmaps and feature prioritization. Data collected from a conversational intelligence solution can reveal important insights for product quality and engineering teams, as well as supply chain partners, for continuous product improvement.
Technology companies that discover and use deep customer insights effectively can better compete and retain talent, despite economic conditions or other challenges. Conversational intelligence can not only differentiate the experiences and outcomes technology companies deliver to their customers, but it can also drive cross-functional improvements across customer service, sales, marketing, products, and more.
Download the latest white paper, Cracking the customer code at Enterprise Techto learn more about how insights from customer conversations drive improvement in every department, from the service desk to product and beyond.
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